eBook: Modernize Legacy Back Office Processing
Financial institutions are always under pressure to reduce costs and improve productivity. Although much attention has been given to branch transformation and self-service solutions, legacy check processing system transformation is equally as important for the efficiency of the institution.
Originally installed to process paper checks, the regulations, technology, and market have transformed. Despite the perceived cost of change, legacy solutions are more expensive to maintain as checks continue to remain in the payment stream. Those banks and credit unions that have replaced legacy back office systems, or those that have reached end of life (EOL), have seen a significant ROI with proven, modern, and continuously maintained image-based technology.
Upgrades to the back office are often perceived as tedious and time consuming, and financial institutions must envision these projects as investments to meet modern-day standards and increase operational efficiency. For many, the systems that have “gotten the job done” are operational today, but there is a critical conversion on the horizon. As many back office solutions reach end of life, concerns around hardware and support services continue to rise. So when is the right time to upgrade?