Plumery launches rescue plan for digital banking exits

Plumery has launched a DBP Rescue Plan for financial institutions seeking to leave existing digital banking platforms. The programme is available globally to 10 institutions.

The Amsterdam-based company said the scheme is intended to give banks and other financial firms a structured route to migrate away from platforms that have become too costly or difficult to change. It aims to complete all migrations under the initial programme within 12 months.

The offer targets a longstanding problem in banking technology. Many institutions remain tied to digital banking suppliers because replacing a platform can involve contract delays, expensive custom development, and the risk of major upgrade costs.

Plumery cited Accenture research on banking technology spending showing that around 70% of banks' IT budgets go toward maintaining technical debt. The same research found software costs have risen by about 8% a year since 2017, outpacing banking revenue.

That backdrop has created an opening for suppliers promising a cleaner exit from legacy or underperforming digital banking systems. Rather than treating migration as a single large overhaul, Plumery has built its programme around a staged process that allows institutions to test the move before fully committing.

Under the plan, participating institutions will receive a specialist migration team, migration tooling, and operating playbooks. A central part of the offer is what Plumery calls a Proof of Migration framework, which allows a bank to test the migration approach against its own systems and requirements before signing up to the full programme.

Plumery is also using commercial terms to lower barriers to switching. For the first 10 institutions, it will waive software licence charges for up to 24 months during the transition period, after which standard terms will apply.

Another element of the scheme is an outcome-based payment model. Delivery milestones will be agreed in advance with each institution, and Plumery will invoice only after a milestone has been completed and signed off.

Migration pressure

The launch comes as banks face pressure to modernise digital channels while controlling technology spending. Institutions often have to balance the need for faster product updates with the reality that older architectures are deeply embedded in core operations, making change expensive and slow.

Plumery said its approach is aimed at institutions seeking greater control over their technology roadmaps. It argues that banks should retain ownership over what is built rather than pay repeatedly for custom work tied to a supplier's platform.

Its technology is based on a headless architecture and the Banking Industry Architecture Network, or BIAN, standard. In practice, that means customer-facing services can be developed with greater separation from the underlying platform, allowing institutions and integration partners to make changes without relying as heavily on a single vendor.

Plumery said members of its team have helped build and migrate platforms for more than 100 banks worldwide. It also said its broader team has worked on digital banking platforms used by more than 300 banks.

Ben Goldin, Chief Executive Officer of Plumery, set out the rationale for the new programme.

"Too many financial institutions stay with digital banking platforms that are no longer working for them because leaving feels riskier than staying," said Goldin.

"The DBP Rescue Plan is designed to remove some of that risk. By combining migration expertise, proven tooling, and a commercial model that removes software licensing costs for up to two years during the transition, we're giving institutions a practical way to move forward and take back control over their digital future. Now the real risk is staying," Goldin added.

Competitive market

The digital banking software market has become increasingly competitive as banks, fintechs, and credit unions seek systems that can support mobile services, product launches, and customer-facing changes without long development cycles. At the same time, many institutions remain cautious about replacing incumbent systems because failed or delayed technology programmes can carry high operational and financial risks.

That tension has encouraged suppliers to focus not only on software features but also on migration methods and pricing structures. Plumery's rescue plan reflects that shift by framing the challenge less as a technology purchase and more as a managed transition with shared delivery risk.

Founded as an independent product company in late 2022, Plumery is headquartered in the Netherlands and focuses on software for digital and AI-led banking services. The company said it has backing from venture capital investors and has been recognised by Gartner as a representative vendor in digital banking platforms.

The initial programme is limited to 10 institutions on a first-come, first-served basis, with software licences available at no cost for up to 24 months during the transition period.