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In a rapidly changing market, the financial and skills challenges connected with maintaining outdated legacy payments technology are escalating.
The painful truth for many financial institutions is that replacement may be the only viable long-term option to future-proof their businesses, comply with regulation and remain competitive.
Viewing the replacement of a legacy system with trepidation is only natural – ripping out technology that’s been relied on for many years is no small change, but the risks of maintaining an outdated, cumbersome platform far outweigh those presented by replacement. Getting the right technical solution and implementation partner however, are critical to streamlining the process and ensuring business continuity.
A checklist to future proof your payments technology
If you’re ready to replace – where do you start? The truth is that next generation payment platforms are very different to legacy technology, and you need to ensure that this investment will work for you for the long term.
The questions you should ask:
Learning lessons from the past is critical: many organisations who initially invested in ACI’s Base 24 Classic and Base 24-eps are now struggling to find the skills to maintain the technology, with the result that they’re now running wholly disparate, patched and clunky systems. Systems which create even more challenges through their inflexibility.
Get informed about your options
Interrogate your plans to upgrade your digital payments technology with the latest guide from BPC; ‘Evolution or Revolution? Choosing the right path for your legacy payments solution’.
With checklists, a detailed cost/ benefits analysis of enhancement vs replacement and suggested roadmaps for implementation, it’s a comprehensive handbook for anyone who has made the decision to migrate from their legacy technology.
The guide is free to download here.
Call us to speak to an expert.