Banking Whitepaper Core Banking Transformation Geared towards a “New Normal” Digital World Every change need not be intimidating. A change that is planned and in the right direction can work wonders. While most industries have adapted to the digital shift, banks are still apprehensive to make the move. Banks are synonymous with savings, security, and so on…but unidentified risks, cyber frauds, etc. hover too. Digitization is no longer a choice, it’s the need of the hour. This white paper talks about why core banking transformation is a crucial step for banks to remain competitive and retain their customers by providing them with an enriched banking experience. The core banking strategy involves understanding why banks need to undergo transformation, followed by the possible diverse approaches that can be taken. The core transformation journey is decided with the help of an evaluation grid which contains all necessary parameters that act as a checklist to aid banks in choosing the right suite. Hexaware helps banks analyze their position in the existing digital lifecycle vs. where they want to be, for which we leverage the C-bead framework. Post the analysis, another framework COPSID is used to implement and enable digital transformation in banking ensuring operational efficiency.