Sovereign Clouds: The New Neighborhood for Core Banking
In banking, proximity has always mattered, not just to your customers, but to your data, your regulators, and your peace of mind. As core banking systems modernize, the shift to the cloud is no longer a question of if, but where. And increasingly, the answer isn’t a far-off data center. It’s a sovereign cloud, built […]
The Hidden Cost of “Good Enough” Banking Infrastructure: Beyond the Balance Sheet
Banks spend nearly 70% of their IT budgets just to keep outdated systems running, leaving little room for innovation. This inefficiency costs global banks $36.7 billion annually, and spending is projected to reach $57 billion by 2028. The modernization decisions banks make today will shape their competitiveness tomorrow. Legacy technology continues to be a top […]
CARITech and Finastra Announce Strategic Partnership to Accelerate Core Banking Transformations in MENA
Cairo, Egypt – 27th of April – CARITech, a leading digital transformation partner specializing in core banking modernization and implementation services, and Finastra, a global provider of financial services software applications, today announced a strategic partnership to strengthen the deployment of Finastra Essence for financial institutions across the Middle East and North Africa. This collaboration […]
The Evolution of Modular Solutions in Banking: Transforming On-Premise Technology
For decades, the banking industry has been a stronghold of stability and tradition. However, the acceleration of digital transformation has made it increasingly evident that legacy on-premise systems can no longer meet the demands of a fast-changing financial ecosystem. Enter modular solutions: a game-changing approach that’s enabling banks to modernize their on-premise infrastructure while retaining […]
Breaking the Legacy Cycle: Strategies for Overcoming Modernization Paralysis
For many banks, the need for core system modernization is clear—but taking the first step can feel like navigating a minefield. Concerns over cost, implementation risks, and operational disruptions often lead to what we call “modernization paralysis.” In 2025, standing still is no longer an option. Here’s how you can break free from the legacy […]
CARITech-Appraised at CMMI® Level 3 for Services
CARITech- Professional Services and Support Unit- Has Been Appraised At Capability Maturity Level Integration (CMMI®) Level 3 For Services. We’re proud to announce that CARITech- Professional Services and Support Unit- has been appraised at Capability Maturity Level Integration (CMMI®) Level 3 for Services. The appraisal was performed by Software Engineering Competence Center (SECC). CMMI is […]
Fostering team spirit and community- The CARITech annual Ramadan Iftar
Fostering team spirit and community at CARITech. Our annual Iftar brought us closer as colleagues and friends, and reminded us of the blissfulness of Ramadan, making our evening unforgettable. #RamadanKareem #IftarCelebration
CARITech Milestone- ISO 27001 Certified
CARITech has achieved ISO 27001 certification, a significant milestone that underscores our unwavering commitment to information security and best practices. CARITech is immensely proud of accomplishing the ISO 27001 certification as it reflects the hard work, expertise, and diligence of our entire team, as a testament to our dedication to protecting sensitive information and maintaining […]
Digital Banking in Africa: Opportunities, Hurdles & What’s Next
Digital banking in Africa, including South African Development Community (SADC) countries, continues to see a combination of opportunities and hurdles. However, there are many digital solutions African banks can use to increase online adoption among their customers.
Modernizing Banking: How to Reduce IT Costs While Transitioning Legacy Systems
Legacy banking systems are outdated applications, systems, and infrastructures that are expensive to maintain. As technology advances, the costs to support these aging systems rise substantially over time. According to industry experts, banks spend an average of 75% of their IT budget on maintaining existing legacy systems.
