Union Bank has decided to move to an integrated banking platform, undertaking the conversion in multiple phases. It is the biggest U.S. bank to announce such a core project, and if all goes well, Union Bank stands to gain not just from better customer service, but a substantial first-mover advantage.

Industry analysts and core platform vendors say that the number of bankers engaging them in serious discussions about core platform renewal has picked up significantly during the past year. Other banks watching how such core renewal projects pan out before jumping in will do well to remember that core renewal projects take time. The so-called fast followers can’t be too fast when the project takes four to five years from start-to-finish. That would give banks like the Union Bank plenty of time to make hay.

Read the article to learn how the functionality-rich modules of a truly comprehensive, integrated platform can enable U.S banks to continuously innovate on their product and service offerings.