Reinventing Core Banking with OASIS by Econocom (Interview)

OASIS by Econocom (OLYMPIC Applications Suite In a Service) is an innovative, modular, and scalable offering built around the OLYMPIC Banking System® solution. It enables financial institutions to address new regulatory, technological, and organizational challenges by leveraging their Core Banking in SaaS within a broader application ecosystem that also provides solutions in regulatory reporting, KYC, and PSD2 compliance.

What are the main challenges financial institutions face today in managing their banking processes?

Vincent Koller :

The challenges are numerous and are growing more intense with the evolution of regulations and increasing pressure on operational efficiency through digitalization.

Firstly, institutions must adapt to an increasingly complex regulatory environment — including DORA, ICT requirements, regulatory reporting, and more — by being able to collect, correct, enrich, and feed data flows from multiple systems.

Secondly, there's the burden of legacy systems. Over the years, layers of systems and processes have accumulated. Making them more efficient and digitalized is a real challenge. While much is said about emerging technologies, especially AI, in practice many institutions still rely on outdated tools, often compensated by User End Computing developments or manual processing.

Finally, managing all these aspects end-to-end requires a critical mass that many institutions no longer have.

Rethinking legacy systems, driving transformation projects, and maintaining key skills have become fundamental challenges.

— all the more so for organizations that have invested little in recent years and have gradually lost knowledge of their information systems.

Do you have a quick piece of advice to help them manage this more easily?

Vincent Koller :

Yes, one key word: make priorities.

It is essential to identify what is strategic and differentiating for the end customer, and to focus efforts on these areas. Operational processes, IT infrastructure, and certain business applications can be intelligently outsourced while maintaining strategic control.

This requires relying on specialized players, whether in software or managed services. OASIS by Econocom fits perfectly into this approach by providing an integrated and controlled solution.

Beyond outsourcing, I strongly recommend collaborating at the local level. Building ecosystems in Luxembourg not only allows us to pool our strengths but also helps preserve our uniqueness and expertise in a rapidly evolving sector.

And could you share a memorable moment from your consulting career?

Vincent Koller :

A memorable moment was onboarding our very first OASIS by Econocom client. They trusted us. It was a real challenge, and we rose to it: in less than 5 months, the project was live, with customer satisfaction achieved.

It was not only a great technological success but also a significant human experience. It laid the foundation for what we continue to build today:

A lasting relationship of trust, pragmatic support, and a clear vision of tomorrow’s challenges.

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