Strategic Planning Assumption: By 2013, 90% of bank services hub initiatives that are planned or under way will need to be re-architected on a global basis (Gartner clients see “Predicts 2010: Operational Technologies Present Threats and Opportunities in Banking and Investment Services”).
Mary Knox believes that most banks that are undertaking payment, lending and treasury management services hubs are doing so in an isolated fashion, without using common enterprise services. Industry reference models to guide more holistic hub initiatives are immature. Vendor offerings are also often immature, unable to leverage common enterprise services and incomplete, in terms of functions to support a broad range of requirements from a single platform.
The implication of all this is that banks will need to migrate/upgrade services hubs as standards and practices become more mature. This will occur in the next five to 10 years, when significant progress will have been made on industry reference models, messaging and process standards and SOA governance at banks. These advancements will enable more holistic approaches to services hub designs along the lines of “virtual hubs” that leverage common enterprise services.