Banks are expected to modernize their IT investments in 2023 to remain competitive, with a focus on digital transformation and innovative technologies that break down data silos. Composable architecture designs allow for faster innovation, improved operational efficiency, and new revenue streams by orchestrating strategic partnerships with fintechs and software providers. Operational efficiency will also be key, with automation of manual processes using robotic process automation, machine learning, and artificial intelligence to streamline processes and free up workforce capacity. Additionally, there is growing pressure on financial institutions to provide ESG data and report on their sustainability efforts, requiring modern data platforms that can consolidate different types of data from various providers. The digital payments market is also expected to continue growing, with a focus on creating personalized, secure, and real-time payment experiences. Finally, security and risk management will be critical, with the adoption of next-generation data platforms necessary to manage costs, maximize security, and foster innovation.