The February 2023 Aite-Novarica Group report outlines evolving bank software development strategies shaped by componentized core systems, APIs, open frameworks, agile methodologies, and cloud options. Traditional buy-versus-build decisions now involve combinations of buying, subscribing, building, and integrating, with hosting choices across public, private, and hybrid clouds. Incremental delivery enables rapid business impact while building long-term capabilities, and service “supermarkets” allow on-demand activation of pre-integrated components. Open-source tools expand possibilities but introduce risks. Done well, these strategies accelerate product innovation, enhance differentiation, and improve customer value without increasing operational or regulatory risk.

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