Modernising Core Banking with Hybrid Cloud and AI

This document is an Event Proceedings Report detailing a roundtable discussion held on 18 July 2024, focusing on the modernisation of core banking and payment systems. The event, supported by The Asian Banker, Amazon Web Services (AWS), Red Hat, and Temenos, brought together industry leaders to address the challenges posed by legacy systems and the importance of adopting hybrid cloud environments. The discussion revolved around five major themes: digital transformation strategies, the transition from retail to business banking partnerships, overcoming legacy system challenges, the potential of AI and GenAI, and the necessity of a solid data foundation. Key points included the need for effective project management, the enhancement of customer experience through modernised systems, and the significance of regulatory compliance. Participants emphasized collaboration with technology providers and the integration of AI to improve operational resilience and customer satisfaction. The report outlines the insights shared by various executives regarding the future trends in banking and the critical components for successful system transformations.