Core Banking Vendor Assessment & Selection

Client: Mid-market UK bank · Engagement: Core Banking Vendor Assessment & Selection

Strawpath led a structured vendor selection process to replace a legacy core banking system, using a No Dual-Core filter and evidence-based scoring to find a partner that met both technical and social-impact objectives.

The Challenge

Facing a technical debt crisis and the looming sunset of their legacy core banking system, the bank needed to replace its mission-critical infrastructure. With an ambitious timeline and the need to avoid the risks of permanent dual-core fragmentation, the bank required an independent, evidence-based assessment of the modern core banking market to select a partner that would support its social impact mission while meeting rigorous UK regulatory requirements.

Our Approach

1. 01

   Rigorous Filtering

   We applied a No Dual-Core principle to disqualify digital-only engagement layers or BaaS-only platforms that would have forced a fragmented architecture.

2. 02

   Comprehensive Market Analysis

   We evaluated dozens of providers, ranging from enterprise-scale legacy incumbents to emerging cloud-native disruptors, assessing them against critical criteria such as UK regulatory compliance (PRA/FCA), specialist lending capabilities, and sustainability (ESG) reporting.

3. 03

   Objective Decision Support

   We guided the bank through a multi-stage selection process, moving from a longlist analysis to structured discovery calls and scripted demonstrations. This allowed the bank to look past marketing theatre and score vendors against real-world operational scenarios, such as complex loan structuring and mid-life amendments.

The Results

1. 01

   Risk Mitigation

   Successfully identified and screened out vendors that would have created long-term technical debt or failed to meet specific UK regulatory expectations.

2. 02

   Informed Decision Making

   Provided the CIO and Executive Committee with clear, data-driven comparisons of TCO, implementation timelines, and architectural maturity.

3. 03

   Strategic Alignment

   Ensured the selected partner not only met the bank’s technical requirements for secured lending and low-touch deposits but also aligned with its long-term social impact goals and digital adoption strategy.