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The thought of learning a new core system, making a significant investment, and undergoing another complex conversion process are enough to make someone sick, and we’re not talking about the common cold either. When bankers are not ready or in the right mindset to bring on a new core system, they can start developing Core Technophobia. It’s important to recognize the signs and symptoms and learn how to treat and prevent this ailment before a bank starts experiencing undesired problems and complications.  

What causes Core Technophobia? 

Core Technophobia is best described as feeling apprehensive or hesitant about investing in modern core banking technology. The ailment is generally caused by misconceptions, assumptions, and having had a negative experience with a core provider. All of these tend to cloud one’s judgement and many bankers start thinking that a new system is too expensive, too labor intensive, or will not yield the returns as expected.  

Common symptoms include:  

  • Anxiety over bringing on new technology  
  • Feeling overwhelmed by all the new options available on the market  
  • Fear of replacing technology with little to no staff support  
  • Lack of confidence in a new core provider’s service  
  • Denial that a new core system will offer better benefits 
  • Uneasiness about financial and labor costs related to technology  


Many bankers may not realize they’ve fallen victim to Core Technophobia and may believe they dodged a bullet with passing on a new core system. However, they may have actually created a disservice to their bank.  

Deprioritizing or even eliminating the need for new core technology only creates barriers to a bank’s future growth. Not only is the bank at risk of its current core’s performance slowing down, but it can also jeopardize its security and compliance protocols. And in today’s climate, banks must place a heavier focus on protecting their data, systems, and customers from cyberattacks and data loss. 


If you suspect that you or someone you know has Core Technophobia, then the next step is learning how to treat it as soon as possible. But you have to know what is causing the ailment first. Download our ebook on Debunking Common Misconceptions About Modern Core Banking Technology to identify the triggers and learn the truth. Knowing the difference between what is fact and what is not will help a banker make better, informed decisions about their core.   


Core technology is supposed to have a long shelf life, but legacy systems often start deprecating after years of neglect and there may not be a plan to update the infrastructure. Patches and quick fixes will only go so far and eventually your bank will need a new core system. Instead of waiting for the inevitable, it’s best to be proactive and start looking for a new sustainable solution that moves your bank forward as well as a provider that supports your bank when you need them the most.  

Prevent Core Technophobia (and an unfortunate event) from happening to your bank. 

Connect with IBT Apps to discuss modern core technology options today.  

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