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The banking experience for many people today is fundamentally an application of technology to be able to carry out their financial tasks. While the need to visit a bank branch remains essential for a number of activities, increasingly the need to support mobile usage is becoming the central focus of many bank strategies. The core banking systems that process financial transactions must remain highly available and able to support large volumes of activity. These systems represent a long term investment for banks and when the need arises to modernize these large systems, the transformation initiative is often very expensive and of high risk. We present in this paper our experiences in bank modernization and transformation, and outline the strategies for rolling out these large programs. As banking institutions embark upon transformation programs to upgrade their banking channels and core banking systems, it is hoped that the insights presented here are useful as a framework to support these initiatives.