In the financial world, the systems that matter most are often the ones nobody sees. Behind the polished interfaces of mobile banking and digital investment platforms lie complex back‑office engines that ensure transactions, portfolios, and processes run smoothly every single day. But as technology evolves, these hidden systems—many designed decades ago—are reaching a breaking point.
The latest episode of Dorsum Expert Talks, hosted by Dražen Tomić, Editor‑in‑Chief of ICT Business, takes listeners deep into this often‑overlooked part of the investment services ecosystem. His guest, Martina Bagarić Maršić, responsible for International Business Development in the CEE region at Dorsum, offers an inside look at how digital transformation is unfolding, which challenges financial institutions must confront, and how Dorsum supports them in building truly future‑ready operations.
When Front-End Innovation Outpaces the Core
In recent years, banks have focused heavily on modernizing their customer-facing channels. Mobile banking apps and online platforms have undergone multiple rounds of reinvention, resulting in user experiences that are fast, intuitive, and increasingly competitive.
Behind the scenes, however, the picture is far less modern. Core banking and back-office systems often still rely on technologies such as COBOL—programming languages that date back to the 1960s. According to Martina, this creates two fundamental problems: the systems cannot easily support modern requirements, and the number of specialists able to maintain them is rapidly shrinking. Both issues introduce operational risks that grow larger every year.
The gap between sleek digital interfaces and outdated foundational systems is becoming one of the industry’s most urgent transformation challenges.
Digital Transformation Starts With Defining the Right Problem
One of the strongest messages from the conversation is that meaningful transformation does not begin with technology—it begins with clarity. Martina stresses that many institutions rush into adopting new tools without clearly identifying the business challenge they are trying to address. Successful transformation starts by defining the problem and only then designing the technology around it.
This philosophy shapes Dorsum’s approach. Although the company is a software provider, it positions itself first as a long-term technology partner. Rather than merely implementing specifications, Dorsum works closely with clients from the very beginning, helping them frame their objectives, create a realistic transformation roadmap, and move toward it step by step. With thirty years of experience in the investment and fund management domain, Dorsum brings a deep understanding of both the business, and the regulatory environment financial institutions operate in.
Future-Ready Technology Built on Modern Foundations
The conversation also highlights a major differentiator: while many providers still operate on older, monolithic solutions, Dorsum has invested heavily in a new, modern technology platform. Built on contemporary architectural standards and designed for modular deployment, this platform is ready to accommodate real-time processing, automation, and AI-driven capabilities.
Rather than advocating for large-scale, high-risk system replacements, Dorsum encourages financial institutions to proceed modularly—beginning with the areas where the pain is greatest. This reduces risk, spreads investment over time, and ensures that business continuity is never compromised. As Martina notes, full back-office replacement is indeed possible in modules, though only with careful planning, realistic expectations, and an experienced partner capable of navigating the complexity.
AI, New Regulations, and Market Competition: What Comes Next
Looking ahead, the industry faces several converging forces. Regulatory expectations continue to rise. New EU directives, including DORA, are reshaping what operational resilience means. At the same time, emerging fintech challengers and fully digital banks are increasing competitive pressure. Artificial intelligence is becoming part of nearly every conversation, yet its adoption is slowed by the strict regulatory environment financial institutions operate in.
Martina explains that Dorsum is well positioned for this future. The company’s systems already meet current regulatory requirements and are built to adapt to new ones. Dorsum is expanding across the region and now operates in ten countries, with strong ambitions for further growth. Its technology and expertise enable clients not only to modernize but to prepare for a market where data, automation, and AI will play increasingly critical roles.
The Moment for Transformation Has Arrived
Legacy systems that were once “good enough” are now holding institutions back. The pressure to operate in real time, reduce manual work, ensure compliance, and respond to customer expectations leaves no space for outdated technological foundations. Although the road to modernization is complex, it is also unavoidable—and those who begin early will hold a clear strategic advantage.
With three decades of domain expertise, a modern and modular technology platform, and a partner-first approach, Dorsum stands ready to support financial institutions through this journey.
Listen to the Full Conversation on Dorsum Expert Talk
This article captures only part of the insights shared in the podcast. To hear the full discussion with Martina Bagarić Maršić in Croatian with English subtitles, and explore how digital transformation is reshaping the investment industry, tune in to the latest episode of Dorsum Expert Talk.
