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Ageing Applications: A Hidden Cost in Financial Services

Why legacy systems are driving up maintenance costs—and what technology leaders must do about It

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Technology leaders across financial services have spent years simplifying their application landscapes – reducing functional overlaps, consolidating vendors, and rationalizing portfolios.  

But despite extensive efforts, many continue to face rising maintenance costs.  


Our new analysis of 40 leading banks globally has uncovered a hidden, and often underestimated, driver of these mounting costs: application age.


In collaboration with Expand, BCG’s benchmarking arm for financial services, we drew on normalized data to examine the relationship between average application age and maintenance costs – the results are striking.  


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