Unpicking legacy platforms is never a simple process, especially if years of technology workarounds have been built on top of the platform. Senior executives are understandably hesitant to launch programs of work that could involve months of planning and system review.
The steps to transform a legacy risk environment must eventually be taken, however, if firms are to meet the current and future requirements of the market.
This white paper examines the challenges faced by risk management executives when attempting to replace their risk technology architectures. It highlights lessons learned during this process and pitfalls to avoid, including those related to technical, operational, and cultural factors.