What challenges does this rapid expansion present in terms of core banking systems?
PW. One of the biggest challenges facing banks is ensuring that the infrastructure is adaptive enough to accommodate the rapid growth in the area and marketplace. The core banking system (CBS) must also be flexible enough to ensure quicker time to market for new products and simultaneously be scalable to handle the growth. Furthermore banks must adapt their systems from a risk perspective. Islamic banks share their risk with investors and borrowers, which is fundamentally different to conventional banks. Banks in the Middle East must manage risks common to conventional banks (e.g. liquidity, credit, market and operational risk) as well as risks unique to Islamic banks (e.g. reputation risk for non-compliance to Sharia principles or ownership risk with assets owned as a part of financing) BM. And what solutions does HP offer to help overcome some of these issues? PW. HP has developed a banking architecture framework called HP Adaptive Bank, to enable banks to deliver world-class cost st
