In a conversation with Innovación Digital 360, our CEO explains why many transformation initiatives fail before they even begin, highlights the strategic value of banks’ operational history, and discusses how to leverage it without dismantling what already works

In an interview with Innovación Digital, Julián Colombo, CEO of N5, reflected on one of the main challenges currently facing the financial industry: the role of legacy systems in innovation processes.

Although more than half of banks still believe that their legacy infrastructures limit their ability to evolve, the discussion — according to Colombo — goes far beyond technology.

The real turning point, he explained, lies in how organizations think about, manage, and relate to their banking core, not merely in the tools they use.

Legacy as a strategic asset, not an obstacle

Throughout the interview, Colombo developed a central idea: legacy is not an unavoidable burden, but rather an asset that is often underutilized. He emphasized the immense value of the historical data accumulated by banks and how, when properly leveraged, it can become a competitive advantage.

During the conversation, N5’s CEO analyzed the most common mistakes organizations make when attempting to modernize without replacing systems, and explained how artificial intelligence can play a key role when it is built on traceable, reliable, high-quality information.

Technological transformation vs. cultural transformation

Another topic addressed was the impact of legacy systems on business metrics. According to Colombo, when legacy systems start working in favor of the organization, the first metrics to improve are those related to efficiency, customer experience, and decision-making.

However, he warned that in most cases, cultural transformation is more complex than technological transformation, as it requires revisiting deeply rooted processes, habits, and narratives within financial organizations.

Rethinking the future of the banking core

With a strategic lens and without oversimplification, Julián Colombo proposed rethinking the dominant narrative around legacy systems in banking and introduced the idea of a true “legacy comeback.” A perspective that encourages questioning assumptions, better understanding the relationship between history and innovation, and reflecting on who is truly prepared to lead the next phase of the financial system.

To dive deeper into these topics and read the full analysis, we invite you to check out the original interview published in the newspaper:
Innovación Digital 360