At VirtaMove, we believe in a branch evolution rather than branch revolution. VirtaMove lends itself well to using an evolutionary approach to modernize branch networks. This approach involves extending the useful life of existing systems by moving legacy branch apps to new, modern, and secure servers.
Branch evolution offers substantial payoffs for customers. Banks can get good returns from moving old apps to new, faster, secure servers.
- They get to evolve their branch systems and buy time as they experiment with new branch and service delivery models. For example, cloud hosted servers. Not having physical hardware at the bank saves significant time and money and can make it easy to virtually maintain and improve capacity and provide uninterrupted service during busy branch hours.
- When you extend the life of legacy branch apps, you get the advantage of the ongoing evolution of delivery systems without the risk of a failed revolutionary approach.
- You get improved security.
- You can plan and implement application improvements over time as needed, when and where justified.
While branch modernization is primarily a problem for banks, many other financial institutions, trust companies, insurance, and retail businesses share a similar suite of distributed, on location servers and technology stacks that all need to be modernized.