The phrase ‘legacy technology’ often creates negative connotations for the capital markets industry as a whole, where it is perceived as a blocker for change. But what is often misunderstood is that for most, it is this legacy technology that underpins the ‘safe’ in safe custody. With rip-and-replace strategies typically impractical due to the risk this creates to day to day business, organisations must think differently around how to deliver innovation and efficiency to their customers.