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In the lead-up to Global Fintech Fest 2024, we are launching a series of posts focusing on the transformative strategy of 'Hollow the Core.' The BFSI sector has evolved into a hub of technological advancement, moving from paper-based systems to comprehensive digital banking systems. This shift has democratized banking services and mitigated human error. With the evolving landscape of payment rails and growing transaction volumes, the requirement for a unified solution, capable of managing the entire spectrum of payments, has become evident. Financial institutions need a robust platform, which complements core systems and empowers banks with flexibility, scalability and innovation. Leveraging the approach of 'Hollow the Core', Montran’s cutting-edge Transaction Processing Hub (TPH) helps financial businesses modernize their payment systems, ensuring a future-ready financial landscape. Learn more about our TPH solution at: https://lnkd.in/dbBD7Rxm #Montran #GFF #GFF24 #GlobalFintechFest #FintechRevolution #BFSI #paymentsolutions #innovation #financialinclusion #hollowthecore #paymenthub #unifiedpaymentplatform

#banking | #credit | #NBFCs | #RBI : Reserve Bank of India (RBI) may give NBFCs access to public tech credit platform for data flow. The Reserve Bank of India (RBI) may allow non-banking financial companies (NBFCs) access to the public tech platform for frictionless credit (PTPFC). Developed by the Reserve Bank Innovation Hub (RBIH) – a wholly owned subsidiary of the central bank – it enables seamless flow of digital information to lenders. The platform is to have an open architecture, which regulated entities can connect in a ‘plug-and-play’ model. https://lnkd.in/gfG_bh_k

Exciting news! We are thrilled to announce that Oradian has been featured alongside top global providers in the latest edition of IBS Intelligence's research report, "NextGen Core Banking Platform: The Future of Banking." Read the report below to discover how banks are embracing NextGen Core Banking solutions to enhance their competitiveness! #BankingInnovation #FinTech #NextGenBanking #IBSi #DigitalTransformation #BankingSolutions #SaaS #CloudCoreBanking

The Session on, "From Brick and Mortar to Digital Dominance: The Transformation of India's Banking Giants", conducted at Bharat Fintech Summit 2024, explored the digital transformation journey of India's leading banks. Ramesh Lakshminarayanan, CIO Group Head IT at HDFC Bank, presented the bank's perspective on navigating this digital revolution. Key takeaways In today's digital landscape, prioritizing a data-driven approach within a microservices-based core is crucial for organizations across industries. Open banking initiatives and the establishment of an API Factory streamline service delivery, fostering interoperability and efficiency. Cloud adoption is essential for agility and scalability, while robust security practices are imperative for safeguarding sensitive data. Together, these elements form the foundation of a modern digital strategy, enabling businesses to adapt and thrive in a rapidly evolving environment. Summary The session emphasized the critical role of digital technologies in transforming banking operations and customer experiences. HDFC Bank presented its ongoing efforts to leverage advancements in artificial intelligence (AI), cloud computing, and open banking to achieve digital dominance. Watch the insightful session here: https://lnkd.in/dANmrfkA #DigitalTransformation #Banking #Fintech #OpenBanking #CloudComputing #AI #HDFCBank #BharatFintechSummit2024

“Traditional banking relationships are mostly transactional – banks prioritize interest rates and revenue. Fintechs tend to be more focused on building products from the ground up to meet exact customer needs,” according to Mihails Kuznecovs, CEO of FINCI.    FINCI is a fintech startup from Lithuania that now serves customers in over 30 countries including SMEs, commercial organizations, and large corporates that have long been underserved by traditional banks.   FINCI went live with Temenos in just 4 months and has grown quickly ever since. The volume of #payments processed by FINCI has increased 100% year-on-year, while card transactions have increased by 50%.   Learn more about how FINCI is innovating in #SMEbanking with Temenos here: https://lnkd.in/gece83ku #VoiceOfCustomer

Get ready for an inspiring keynote address at the ETBFSI CIO Digital Conclave 2024! 🌟 Join us as CS Setty, MD of State Bank of India , shares insights on 'Supercharging Innovations'. Key Takeways: We've spent significant time and energy in making our products and services accessible to our customers. In 2016, we embarked on a very important journey of mobile banking...and today the flagship mobile application of SBI —YONO has got 70 million registered users. On an average about 1.5 crore people login into this app and last year we have done loans worth 1 lakh crore through YONO. To be impactful you have to achieve the scale which is applicable to both smaller and larger organisations. Know more- https://bit.ly/3GZOlfn #ETBFSI #ETBFSICIOConclave #ETBFSIDigitalConclave #CIOConclave #DigitalLeaders #CIO #CXOs #DigitalTransformation #Mumbai

What is the Digital Payments Intelligence Platform (DPIP)? What's New? Setting up a Digital Payments Intelligence Platform by Reserve Bank of India (RBI), Bharat's Apex Bank. What's Expected? * The Reserve Bank, over the years, has undertaken several measures for the safety and security of digital payments to maintain public confidence in digital payment systems.  * Among many, the Payments Vision, and the Digitial Payments Index (DPI) are a few examples of initiatives taken * Sustaining such confidence would require minimizing the incidence of fraud.  * Many frauds occur by influencing unsuspecting victims to make the payment or share credentials esp. the vulnerable groups * While the payment ecosystem (Banks, NPCI, card networks, payment aggregators, and payment apps) takes various measures on an ongoing basis to protect customers from such frauds,  * There is a need for network-level intelligence and real-time data sharing across payment systems. What's Proposed? * RBI has proposed to set up a Digital Payments Intelligence Platform that will harness advanced technologies to mitigate payment fraud risks.  * To take this initiative forward, the RBI has constituted a committee (Chairman: Shri A.P. Hota, former MD & CEO, NPCI). * The committee to examine various aspects of setting up a digital public infrastructure for the Digital Payments Intelligence Platform.  * The Committee is expected to give its recommendations within two months (Aug/Sept 24). What are your thoughts?  Will this step bring standardization in handling #frauds in #Payments? Leave your comment. #UpskillwithAbhishek #RBI #Fintech #CharteredAccountants

At Critical, we’re not just banking on success: we’re making it happen for financial institutions. To add to our #knowledge of the latest trends in banking, Pedro and Patrick recently attended the World Banking Forum where they explored the intricacies of modern finance, from #digital transformation to regulatory compliance and FinTech disruption. 📍 Read more from our Programme Manager about how to rise above the challenges and find the sweet spot in your company’s #financial #strategy. 👇 #CriticalSoftware #TheFutureIsOurs #SoftwareSolutions #DigitalTransformation #Technology #DigitalStrategy #Banking #Finance #Fintech #BankingIndustry #FinancialServices #BankingTechnology #DigitalBanking  

In the face of technological evolution, we see a new chapter for physical #Banking branches in the #GCC, securing their place with a fresh perspective. Our key insights: ➡️ Digital advancements pave the way for branches to evolve beyond transactions, offering a chance to optimize networks for productivity, cost efficiency, and an enriched customer experience. ➡️ Our report unveils the power of an analytics-driven approach to branch network optimization, showcasing potential savings exceeding 3 BN USD for banks in the GCC and a potential 40%+ boost in productivity per branch. Ready to explore this transformative journey? 💡 Dive into our report for detailed insights and take your next step towards banking evolution: https://bit.ly/3O6gGok #RolandBerger #DigitalTransformation #BankingInnovation #GCCFinance Saumitra Sehgal, Luca Turba, Domagoj Vlahovic

How to improve the SME and Corporate Credit settlement and sale? That was the joint journey my colleague Pedro Gaspar and Tomás Velez Grilo from CAIXA GERAL DE DEPOSITOS, S.A. spoke about at the World Banking Forum today in Lisbon. It was a great sharing moment, providing inspiration around digital strategy and how to approach such projects together and drive them to a success. Want to know more? Just reach out and have a chat with him. #wbf2024 #CriticalSoftware #banking #bankinginnovation #finance #digitaltransformation