As the term itself suggests, a ‘core banking solution’ forms the very backbone of a bank’s technology infrastructure. It is a mission-critical application and even a minor error can critically affect a bank’s operations causing it to come to a grinding halt. It is, therefore, essential for a bank to have a robust, future-proof core banking solution that can enable the bank to design innovative products and execute new competitive strategies. As banks across the world evaluate their existing core banking solutions’ ability to meet current and future needs, we discuss the issues surrounding corebanking replacement in this edition of FinacleConnect. We look at why it is imperative for banks to replace antiquated legacy applications and the benefits achieved by a few progressive banks that have taken this momentous step. Indeed, according to estimates by leading research firm, TowerGroup, global IT investment