Financial services and insurance organisations have long prided themselves on focusing on customer needs. But increasingly, outdated data and technology systems are getting in the way—slowing innovation, inflating costs, and compromising any real AI ambitions.
It’s a classic iceberg problem. The issues visible at the surface—rising costs, missed deadlines, frustrated teams—are just a fraction of the challenge. Below lies the complex tangle of technical debt, brittle integrations, compliance risks, and scalability limits that silently compound over time.
And yet, modernisation still struggles for airtime. Faced with budget pressures and the allure of AI, many organisations kick the can down the road—hoping to “muddle through” just a bit longer.
But legacy pain doesn’t go away. It multiplies.
Legacy is hurting your business more than you think
Ask any CTO: the symptoms show up in every meeting. Why is this taking so long? Why are delivery cycles so expensive? Why are we still dealing with poor data?
Even when the problems are known, the response is often: “We’ll modernise when we get time.” The focus is on new features, on AI, on the visible. But the truth is, none of these priorities will succeed without a strong, modern foundation.
Below the surface are the blockers:
- Security vulnerabilities
- Expensive workarounds and manual processes
- Integration nightmares
- Rigid processes and people that resist change
- Poor user and customer experiences
- Risk of falling behind on regulation
- A growing talent and skills gap
And critically, a risk of turning short-term decisions into long-term traps.
Modernisation done right: strategic, incremental, and business-focused
Modernisation isn’t about ripping everything out. It’s not about rewriting systems for the sake of it. It’s about achieving the outcomes that matter to your organisation—whether that’s speed, cost of change, scale, cost-efficiency, or innovation—and embedding change into your technology and your ways of working. Modernisation takes a village, and you need everyone on the ground to buy into the mission.
Change the modernisation conversation
Our customer lookbook helps you:
- – Drive better conversations with CFOs, CROs, and CEOs
- – Share common challenges
- – Draw inspiration from real success stories in financial services and insurance
Whether you’re just beginning or need to re-energise a stalled programme, our lookbook helps you drive more compelling conversations to align stakeholders around the outcomes that matter most.
