VSoft’s latest eBook provides insights on how a core conversion can unlock new growth opportunities
ATLANTA–(THETECHMUSK=TTM)–VSoft Corporation, a global leader in providing information and technology solutions for financial institutions, today published its newest eBook, “4 Ways to Unlock Growth with a New Core.” The eBook explores the signs bankers should watch for that indicate it’s time for a core conversion, key attributes of a modern core banking platform and what a new core can help their financial institution achieve.
“However, outdated, inflexible core banking architectures lack what is needed for financial institutions to use that data and deliver truly innovative products and services that today’s customers expect.”
VSoft’s eBook also outlines the key considerations bankers should keep in mind when exploring a core conversion, including how to weigh the potential ROI of investing in a new core system versus the costs of sticking with an outdated legacy solution. A new core platform is a major investment for a bank, but statistics show that institutions often dedicate up to 75 percent of their IT budgets to the maintenance of legacy systems.
“Between online and mobile banking channels, third-party apps and more, financial institutions have access to more data than ever before, unlocking the potential to create a more informed and profitable banking strategy,” said Murthy Veeraghanta, chairman and CEO of VSoft. “However, outdated, inflexible core banking architectures lack what is needed for financial institutions to use that data and deliver truly innovative products and services that today’s customers expect.”
Veeraghanta continued, “Community financial institutions are now expected to process transactions in real time, release new products frequently, stitch together partnerships within weeks and scale their infrastructure when necessary – a feat that requires a modern core banking system to achieve. More banks and credit unions are realizing this, as recent research from Cornerstone Advisors shows that nearly one-in-ten financial institutions are planning to invest in a new core system this year. Our latest eBook will serve as a resource for these institutions as they strategize their IT investments.”
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About VSoft Corporation
VSoft Corporation offers platform-based services for the banking and financial services industry. Its core, payment and digital banking solutions reduce cost and maximize efficiency while providing seamless, real-time, high-volume and high-performance transactions across multiple channels. The VSoft platform can be delivered in-house, or as an outsourced ASP or SaaS model to best meet the needs of individual financial institutions. VSoft’s services have been trusted by financial institutions worldwide. For more information, please call 678-602-1384 or visit www.vsoftcorp.com.