1st Edition
Rip Out the Core A DIY Guide to Platform-Enabled Banking Transformation
I. Demolition and Discovery: Why Banks (and Kitchens) Fail
1. A Flooded Kitchen and a Broken Bank
2. When the Dishwasher Breaks
3. A History of Duct Tape
4. Don’t Start with the Tiles
5. The Point of Diminishing Returns
II. Blueprints and Budgets: The Blueprint Phase
6. Define the Dream, and the Realities
7. Architectural Choices and Trade-offs
8. Build, Buy, or Borrow the Kitchen?
9. Renovate or Rebuild? Choosing Your Modernisation Pattern
10. The Fintech Showroom, Choosing the Right Tools and Partners
III. The Test Kitchen: The Construct Phase
11. Crossing the Threshold from Blueprint to Construction
12. Pick the Crew, Then the Sink
13. Power, Water, Ventilation
14. Connect the Pipes and Light the Hob
IV. Scaling without Sinkholes: The Harden Phase
15. From Pilot to Portfolio
16. Don’t Forget the Ducting, Operations, Skills, and Support
V. Your Forever Home: The Future of Platform-Based Banking
17. Platforms, Ecosystems, and Open-Plan Banking
18. Conclusion: Stop Mopping the Floor
19. Epilogue: Closing the Kitchen Door
Appendices
A. Your Checklist Against Common Causes of Failure
B. Your Design Thinking Cheat Sheet
Biography
Pål Krogdahl is a banking and technology executive with experience leading digital transformation in the financial sector. His career has focused on bridging the gap between innovative tech and real‑world banking needs, from open banking and embedded finance to core banking modernisation. He has always been passionate about leveraging ecosystem partnerships and platform strategies to drive tangible business outcomes for banks, while carefully managing risk and complexity.
Beyond his corporate roles, he stays deeply engaged in the fintech community. He serves as a board advisor and mentor to fintech startups helping them to scale and refine their strategies.
He also co‑founded and co‑hosts the Fintech Daydreaming podcast, where he discusses emerging trends in financial services with industry leaders. Started in 2020 now with listeners in over 100 countries, the podcast has grown into a recognised platform for thought leadership on banking innovation.
“Snappy, funny and painfully true. This is both user manual and emotional support for anyone stuck in the messy reality of core modernisation.”—Dr. Leda Glyptis, Author of Bankers Like Us and Beyond Resilience
“An urgent call for incumbents to stop hiding behind legacy cores and asset size and go all in on digital and agentic banking, using no-core principles and Pål’s kitchen disaster as a brutally honest lens on what it will take to survive the next era.”―Brett King, Futurist and author of Branch Tomorrow and the Bank 2.0-5.0 Series
“Not another glossy transformation story. A practical blueprint and toolkit for building a future-proof institution when ripping everything out is not an option."—Sampsa Laine, CEO, Alisa Bank
“No silver bullets and no snake oil. Just hard-won lessons on how to move from monolithic legacy to platform-enabled and eventually agentic banking without breaking the bank on the way.”—Dharmesh Mistry, Banking and technology advisor
