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Escaping the trap of legacy banking using a value stream operating model

Author

Listed:
  • Van Der Graaff, Ad

    (PwC, Thomas R. Malthusstraat 5, The Netherlands)

  • Raghavan, Ramya

    (Organisational Performance & Insights, Australia)

Abstract

Legacy modernisation is high on the agenda of banks but notoriously difficult to do well. The operating model and business architecture can enhance productivity and clarity on which business leaders should feel responsible for modernisation. When the alignment of technology to business has not happened yet, a tech or ‘supply-led’ modernisation effort ensues. Through a case study, this paper aims to explore the right balance between technology-led modernisation and business-led modernisation, the results of when modernisation works, and what can be done to avoid potential pitfalls. Although this paper focuses on value stream-based organisations with ‘product model’ delivery, learnings can apply to functional organisations working with a ‘project model’ as well. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.

Suggested Citation

  • Van Der Graaff, Ad & Raghavan, Ramya, 2025. "Escaping the trap of legacy banking using a value stream operating model," Journal of Digital Banking, Henry Stewart Publications, vol. 10(1), pages 18-29, June.
    • Handle: RePEc:aza:jdb000:y:2025:v:10:i:1:p:18-29
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    More about this item

    Keywords

    modernisation; legacy; transformation; value stream; platform; productivity;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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