Banking Roundtable Breakfast

Insight into the real constraint hindering transformation efforts: the lack of core platform knowledge and expertise.

21 May 2025, 1 Lombard Street

On 21 May 2025, senior technology leaders from across the banking sector gathered at 1 Lombard Street for an insightful roundtable discussion on Core Platform Modernisation.

Hosted by Qurated Delivery Director Paul Jackson, the session brought into sharp focus the real constraint hindering transformation efforts: the lack of core platform knowledge and expertise.

While cloud strategy, architecture, tooling, and cost controls remain central to modernisation initiatives, the conversation repeatedly returned to a more pressing concern – the “knowledge gap”.

Organisations are struggling with a lack of experienced SMEs who understand the intricacies of legacy platforms, many of which have evolved over decades. This "knowledge debt" is stalling progress and increasing transformation risk.

Key Insights From the Roundtable

  • CEO Sponsorship is Essential
    Modernisation at scale requires top-down commitment. Without sustained CEO-level support, programs can falter or be prematurely deprioritised.
  • The Talent Crunch is Real
    Banks are finding it increasingly difficult to recruit and retain people with deep knowledge of core platforms – particularly those who understand both the technical and business context.
  • Fintech Integrations Need More Than APIs
    Success with fintech partnerships depends not just on technical connectivity, but on internal teams having a robust understanding of existing platforms and products.
  • Leadership Change Can Derail Business Cases
    Multi-year modernisation programs are often undermined by leadership transitions. Building resilient business cases that can survive executive turnover is crucial.
  • Don’t Conflate Migration with Transformation
    The group agreed on the value of separating infrastructure migration from application and business process transformation to de-risk delivery.

Looking Forward

This roundtable underscored a growing consensus: core platform modernisation is not just a tech problem - it’s a people and knowledge challenge. Closing this gap will require long-term investment, stronger cross-functional alignment, and a renewed focus on talent development.

If you are interested in exploring this topic further, please reach out to Harry Dillon, Senior Consultant, Banking and Payments.