Core Insights - Financial services firms are facing challenges with legacy systems that hinder innovation and compliance, necessitating modernization without a full overhaul [3][4] - A targeted approach using an "agility layer" allows firms to modernize core systems incrementally, unifying data and accelerating innovation while minimizing risks [6][11] Legacy System Challenges - Many core IT systems are outdated and expensive to maintain, complicating the ability to meet customer expectations and regulatory demands [3][4] - Traditional "rip-and-replace" strategies can lead to operational outages, lost revenue, and complex data migrations that are time-consuming [5] Agility Layer Concept - The agility layer serves as a flexible framework that connects legacy systems with modern applications, enabling rapid innovation [7][11] - A key component of the agility layer is a data fabric, which unifies data from separate systems without relocating it, creating a single, trusted data model [8] Incremental Modernization Strategy - A successful modernization strategy begins with mapping current systems and identifying inefficiencies, using tools like process mining to reveal bottlenecks [9][10] - Addressing critical workflows incrementally allows firms to unlock efficiencies and build a foundation for broader transformation, targeting high-impact areas for rapid ROI [10][11]