According to CapTech, it typically takes a traditional bank about a year to roll out a new product line from updating core systems, to integrating vendors, to clearing regulatory approvals.

Some institutions take longer.
Research from Arrivia puts the range at 12 to 24 months, plus upwards of six figures a year just to implement fundamental changes to the tech stack.
 Meanwhile, 43% of global banks still run core banking systems that are more than 20 years old.
And those legacy systems built for a world of branch visits and paper forms consume anywhere from 64% to 80% of a bank’s entire technology budget just to keep the lights on, leaving almost nothing left to actually build with.
This is the reality that the vast majority of financial institutions in the Middle East have been living with.
The process of building financial products is broken.