Some banks are replacing their core banking system with new software. It's extremely expensive, a huge risk (any delay in migration means time where customers c

Some banks are replacing their core banking system with new software. It's extremely expensive, a huge risk (any delay in migration means time where customers can't use ATMs or cards) and the benefit vs just adding API layers on top isn't always clear. At some point everyone needs to modernize but there are very few people who'd want to take responsibility for a project that size. TSB customers have learned how painful it can be if the migration of a core banking system fails: https://www.independent.co.uk/news/business/news/tsb-it-failure-cost-compensation-customers-switch-current-account-a8757821.html https://www.independent.co.uk/news/business/news/tsb-it-fail...