Gartner Research

Use This Readiness Maturity Model to Avoid Core Banking Program Failure

Published: 09 January 2019

ID: G00374173

Analyst(s): Don Free


Most banks unknowingly place their core banking renewal program at risk of failure following board approval. Bank CIOs need to slow down and assess their project readiness before proceeding or risk extensive time and cost overruns of 25% or higher.

Table Of Contents
  • Key Challenges


  • Critical Success Factors


  • Sustained Business Sponsorship and Ownership of the Core Banking Renewal Program Are Pivotal to Success
  • Functioning Decision-Making and Program Governance Processes Are Critical to Avoid Delays, Cost Overruns and Program Fatigue
  • Banks That Don’t Possess the Skill Sets and Experience for Core Banking Program Management Should Perform an Expansive Search for Contract Hires
  • Identify Core Banking Program Resource Roles, Time Commitment and Relative Time Frame to Assess Contract Help Requirements
  • Manage Internal Culture by Performing Aggressive Organizational Change Management to Lessen the Impact of the Core Banking Renewal Program
  • Don’t Let the Approved Business Case Gather Dust — Actively Manage the Business Case Throughout the Core Banking Program
  • Appendix

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