Why banks shouldn’t wait for AI to fix their legacy challenges

Chris Eley, Application Modernisation and Transformation Director at TXP, has been featured in Retail Banker International with a thought-provoking article exploring why banks cannot afford to delay modernisation in the hope that AI will resolve long-standing legacy system issues.

In the article, Chris challenges the growing assumption that generative AI can simply be layered over ageing Gen-based platforms to remove complexity. While AI can play a valuable supporting role, he explains that it cannot replace the strategic decisions, architectural redesign and risk management required to modernise deeply embedded legacy systems.

Chris outlines the real risks of inaction, including rising costs, shrinking specialist skills, operational fragility and missed opportunities for innovation. He argues that waiting for a future “silver bullet” only widens the gap between banks constrained by legacy technology and those building more agile, future-ready platforms today.

Rather than a single disruptive leap, the article advocates a structured, phased approach to modernisation that reduces risk, unlocks value incrementally and creates a stronger foundation for future AI adoption.

Read the full article to explore why taking action now is critical for banks planning their long-term transformation.

https://www.retailbankerinternational.com/comment/why-banks-should-not-wait-ai-fix-gen-problem/