WHERE A CORE BANKING OVERRUN ACTUALLY GOES: WHAT THE PRIMARY RECORD SAYS

Summary from the TLDR Fintech newsletter

WislaCod's CEO argues that core banking programmes don't go over budget because of the ledger. The cost comes from the "seams" around it: platform decisions, migration timing, integration, testing, and unmanaged vendor chains. RTGS came in £56M over budget, and TSB's failed migration came down to a login misconfiguration and poor visibility into 85 subcontractors, not the data migration itself.