Core Banking Solution
A new wave of financial technology (FinTech) is sweeping the industry, offering more and better engagement with customers. We believe that this is triggering a major re-evaluation of the capabilities of financial technology to deliver the transformation of business models, and a willingness to invest in real change. Also as the industry and businesses move towards digitization, the great innovations will turn financial institutions (banks and non-banks) towards new and different types of financial and banking businesses. We believe that new financial technology cannot truly optimize the delivery of products and services unless the core engines that contain the products & services offerings are both stable enough for regulators and have become highly adaptable and flexible to allow for rapid change.
- Customer expectations are evolving. Customers are smarter, more demanding and less loyal. The center of gravity is migrating from the branch to an ‘always connected customer’. All financial bodies need to be more reliable to support complex products, and to be widely able to provide a multi-dimensional holistic customer view.
- Reducing complexity and operating in a more streamlined manner will reduce cost and maximize revenue. Standardizing processes across all branches/outlets is highly needed, as siloes and inflexibility due to reliance on old technologies need to be enhanced in order to create personalized, transparent and risk-priced value propositions.
- Cross-channel integration is required to deliver a consistent and seamless customer experience across channels.
- Content and functionality have to be seamless and modular across channels to support a client experience which is evolving into a retail model.