Muhammad Faisal Anwar, CTO of HBL, warned financial institutions at the Temenos Community Forum that core banking modernisation projects frequently fail when banks treat them purely as technical challenges. Speaking to FinextraTV, Anwar emphasized that banks must establish clear problem statements defining what their core transformation will actually solve before initiating upgrades.
The HBL executive highlighted employee engagement as a critical success factor, stressing that staff should be viewed as business ambassadors whose satisfaction directly impacts modernisation outcomes. Anwar also urged banks to fundamentally shift their perspective on customer transactions, moving beyond traditional product-focused thinking to view each interaction as part of broader customer lifestyles including homes, vehicles, and travel.
The remarks come as financial institutions globally accelerate core banking overhauls to meet digital demands, with many projects experiencing delays and budget overruns.
FXnCO Insight
Banks planning core modernisation should prioritize strategic clarity and workforce buy-in over technology selection to reduce implementation risks and improve ROI.
Source: Finextra