Legacy systems – still the big barrier to banking innovation

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Image Source: Article

Outdated legacy IT systems are a major stumbling block for traditional UK high street banks as they look to fight back against their often more agile rivals, widely known as ‘challenger banks’, who unhindered by complex, unwieldy IT infrastructures are typically better positioned to innovate, writes Nimish Shah.

In a recent survey by Talend, nearly half of the banking industry professionals that were polled made reference to the limits of legacy systems as the biggest IT challenge facing the sector, with 43% also citing it as the main barrier to realising the benefits of big data analytics.

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