For those of us in the financial industry, business goals are primarily centered on enhancing operational efficiency, providing insightful and personalized consumer experiences, and of course, driving profitability and long-term success. How is your financial institution (FI) bringing new goals to fruition this year? And where are you focusing your efforts? If there’s one strategic directive that tops your 2018 task list, it should be this: Determine how to utilize the Windows 7 end-of-life to your benefit.
Historically, operating system migrations have often been viewed as a compliance issue and not much more. Compliance concerns – and more importantly, security issues – provide an easy, defendable ‘scare tactic’ push toward migration. But I think there’s an opportunity to get so much more out of this industry event by investing in new solutions with the right partner. Your Windows 10 discussions should revolve less around minimum requirements and more around future-proofing your business to enable the transactions and experiences your customers desire.
Consumers clearly want more functionality and seamless interactions across channels. Your organization can get ahead of the competition by recognizing the real opportunity to take advantage of the migration directive and provide strategic differentiation.
You must ensure that when your customers use your network post-migration, they will see a material difference in the self-service experience and recognize the benefit of the changes. Simply swapping out Windows 7 for Windows 10, or upgrading a processor or swapping out an ATM to conduct the same transactions the same way they’ve always been done, are not investments well spent.
When ATM Marketplace asked self-service deployers about what they’re prioritizing over the next few years, the top results were all about mobile and connectivity. The Windows 10 migration is an opportunity to look closely at your entire network and make thoughtful determinations about how to evolve for the future of connected commerce and ensure your network is relevant, secure, efficient and adaptable today, tomorrow and far beyond.
The migration process doesn’t have to be an obstacle. If you start planning now, you have the time to select the right partner and solutions, as well as the ability to implement immediately or through a phased approach. With a year and a half until expiration of Windows 7 support, FIs that start preparing now are well positioned to successfully adopt – and embrace – technology that enhances the consumer experience. It is also a perfect opportunity to review your current operating and business models to consider outsourcing and as-a-service opportunities.
As the physical and digital channels continue to merge and new financial and payments disruptors enter our space, the ability to easily adjust and dynamically change course is becoming vital – FIs will need to partner strategically and engage in more cross-industry collaborations.
Remember, you’re not alone on the journey – we’ll help you build a customized roadmap to get you to this crucial destination. Consider the path that’s right for your FI and seek expert advice so you have a partner to guide you along the way.
This article is a modified version of one originally published in RBR Banking Automation Bulletin.