AI is pushing financial institutions to modernise, but the answer is not to replace everything. Banks should focus on the technology, data, and processes that directly support business outcomes.
AI is putting modernisation back on the executive agenda as legacy systems increasingly limit banks' ability to adopt AI, access data in real time, and respond to regulatory and resilience demands. Atos executives Dee Lawler and Matthew Hughes argue modernisation is now a business issue, not simply a technology refresh.
"The objective to modernise isn't to modernise the technology or the most technology," Hughes says. "It's to modernise the technology that matters most."
But banks should resist the temptation to make AI the answer to everything. Leaders should first identify the business outcome they want, then determine what is holding them back – whether that is technology, data, processes, skills, or risk. Incremental modernisation can reduce operational risk while allowing organisations to measure returns, with resilience and business continuity built into the design.
The takeaway for financial services leaders is simple: modernise where technology is constraining growth, efficiency, customer experience, or resilience – not simply because AI has created a sense of urgency.
Enjoy,
The Cyber Uncut team