Skaleet’s Post

Modern Digital conversions are the order of the day. As we learn with Frédéric Chanfrau and Varun Goyal, on their respective journeys harnessing the power of digital transformations, it would be exhilarating for everyone to learn and unlearn the recipe for the success. Come and join us as we speak through this. #DigitalTransformation #Finacle #RBC #GoldmanSachs

Small and medium-sized banks, short on the resources to rebuild their infrastructure and long frustrated by the slow pace of innovation by some core banking service providers, are benefitting from a shift in tactics. Those providers are increasingly partnering with financial data providers and other third-party fintechs to give client banks access to technological prowess they can’t necessarily scale on their own. These connections, provided through middleware solutions that wrap around banks’ core services, allow for smooth communications between systems and allow those smaller FIs to offer customers more features and better experiences. Read the report: https://lnkd.in/ehxa4K24 #techinfrastructure

To fully harness their digital investments, banks need a modern core that embodies cloud-native architecture, composability, flexibility, agility, scalability, and openness. This digital foundation enables banks to swiftly adapt to dynamic market conditions, foster continuous innovation, create novel business models, and unlock fresh revenue opportunities through strategic partnerships. Join us at Infosys Finacle Digital Banking Connect 2024, where we delve into the experiences of banks prioritizing core modernization. Gain insights on how this accelerates their transformation agendas and positions them for sustained growth in the ever-evolving digital landscape. Hear from industry leaders: - Frédéric Chanfrau, Chief Information Officer, Head of Technology, RBC Clear - Varun Goyal, MD, Head of Enterprise Partnerships Ledger-Platform Solution, Goldman Sachs - Arindam Ghosh, MBA, Head of Delivery – Americas, Infosys Finacle (Moderator) Don't miss this opportunity to learn how modernizing your core can drive your bank's success. At Finacle Digital Banking Connect 2024, gain insights from top experts and peers on global best practices to reshape banking and navigate the digital landscape confidently. Discover new connections and partnerships to help your bank thrive amid evolving challenges. Know more: https://lnkd.in/ghQ4fXZr #FinacleDigitalBankingConnect #RecomposingBanking #InspiringBetterBanking #Cloud #Coretransformation #CloudTech #DigitalBanking

We've seen for many banks that existing infrastructure and monolithic core banking systems are under immense strain, with limitations in their ability to offer the hyper-personalised customer experiences, as well as the cost and regulatory pressures associated with running such a system. Most understand that modernising their infrastructure and core banking platform will reduce IT costs, improve agility and regulatory compliance, and accelerate time-to-market to deliver on customer demands. However, for many, adopting modern cloud-native infrastructure raises more questions than answers, and the path forward remains vague. Together with Red Hat and GFT Technologies, Thought Machine have streamlined the path to cloud-native banking that allows banks to gain the benefits above. Download our whitepaper together here for more information..

The Banking Stack Is a Techno-Regulatory Framework of Businesses Linked with APIs and Subject to Varying Levels of Regulatory Scrutiny. The framework that we refer to as the banking stack is a representation of possibilities, not realities. It is a techno-regulatory architecture based on application programming interfaces (APIs), and it allows a breakdown of banking into distinct services that can be offered on banks’ own digital platforms or on external ones. Conversely, banks can offer third-party financial (or nonfinancial) services on their own digital platforms or outsource certain processes to external providers. Technology has thus converted the banking ecosystem into a stack of products and services that are seamlessly interconnected through APIs and subject to varying degrees of regulatory scrutiny. At a glance, the stack may look like a threat to banks because they lose traditional ties to their customers. Moreover, they will be required to reposition themselves in the financial services ecosystem. But it’s a two-way street, with services migrating both out of and into banks’ orbits. #banking #bankingframework #digitalbanking

𝗠𝗼𝗱𝗲𝗿𝗻𝗶𝘇𝗶𝗻𝗴 𝗰𝗼𝗿𝗲 𝗯𝗮𝗻𝗸𝗶𝗻𝗴 𝘀𝘆𝘀𝘁𝗲𝗺𝘀 𝗰𝗮𝗻 𝗿𝗲𝗱𝘂𝗰𝗲 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗰𝗼𝘀𝘁𝘀 𝗯𝘆 𝘂𝗽 𝘁𝗼 𝟮𝟱% The core banking system is the backbone of any financial institution. Modernizing it is crucial for staying competitive, but the approach can be a game-changer. - The 𝗕𝗶𝗴 𝗕𝗮𝗻𝗴 𝗮𝗽𝗽𝗿𝗼𝗮𝗰𝗵 involves overhauling entire systems at once, suitable for banks with outdated technologies needing urgent replacement in #monolithic architectures. It is disruptive but necessary for rapid modernization. - On the other hand, an 𝗜𝗻𝗰𝗿𝗲𝗺𝗲𝗻𝘁𝗮𝗹 𝗮𝗽𝗽𝗿𝗼𝗮𝗰𝗵 modernizes modules gradually, minimizing operational interruptions. #Microservices architectures that prefer the Incremental approach, provide flexibility and agility and are normally selected by Tier-1 banks. Banks must weigh these options against their operational goals, risk tolerance, and market demands to navigate the evolving financial landscape effectively. #CoreBanking #DigitalTransformation #BankTech Sahil Anand | Ramkumar Venkataraman | Chetan Parekh | Ramakrishnan Viswanathan | Pankul Verma | Angleen Malik | Aditya Agarwal | Robin Amlôt | Ojas Kulkarni | Nikhil Gokhale | Subit Saurav

See how a leading bank transformed its 25-year-old legacy system, facing outdated technology and regulatory hurdles, into a cutting-edge digital platform. Our client: • Shifted focus from technology refresh to enhancing collaboration, agility, speed, and scalability. • Overcame complex regulatory and security challenges across multiple jurisdictions. • Dramatically improved client satisfaction and revenue growth by eliminating outdated systems and processes. Discover how strategic digital innovation can overcome legacy limitations and drive global banking forward. https://ow.ly/e0lv50R8XTI Ranga Kanapathy Manuel Vidal Jarek Wawro Anil Somani Sreeni R. Gali Omar Arana Surendra kumar Nagarajupalli Vipul Valamjee Jayaprakash Nair Anuradha Natarajan Jyoti Chaudhary Ramji Vasudevan Arun Kumar Ramya Narasimhan Badhrinath Kannan Debabrata Das Suresh Perikala Somraj Choudhary Baiju Panicker Ganesh Raj Mohan Parimelazhagan Ignacio R. Segovia

Transforming Banking for the Digital Age: Key Insights from the Whitepaper Official Link: https://lnkd.in/gdiz84pf The whitepaper "Restructure Your Bank for the Digital Age Using APIs and Microservices," highlights the urgent need for traditional banks to adapt to the rapidly evolving Hashtag #financial landscape. Key Takeaways: - Challenges for Banks: Legacy systems hinder agility, making it difficult for banks to meet changing customer demands and compete with agile fintechs. - Open Banking Emergence: The rise of open banking presents both threats and opportunities. Hashtag #Banks must leverage standardized APIs and microservices to stay relevant. - BIAN Framework: The Banking Industry Hashtag #Architecture Network (Hashtag #BIAN) offers a standardized model for banks to modernize their core systems without completely overhauling existing infrastructure. - Componentized Architecture: By adopting a microservices approach, banks can enhance flexibility, scalability, and innovation, aligning their services with customer expectations. This whitepaper serves as a crucial guide for financial institutions looking to thrive in the digital age. Embracing these strategies will not only improve operational efficiency but also elevate customer experiences. Thank you Fiorano #banking #digitaltransformation #openbanking #APIs #microservices #fintech

A well-known international bank replaced their inflexible legacy core with a modern, modular platform to drive growth. With open APIs, real-time processing and data analytics, they reduced costs by 20%, launched products 4x faster, boosted cross-sales by 15% and delivered superior omni-channel CX. See how the right core banking transformation unlocks innovation and agility. #corebankingtransformation #digitalbankinginnovation #realtimebanking #financialtechnologyadvancement

Transforming Banking for the Digital Age: Key Insights from the Whitepaper Official Link: https://lnkd.in/gdiz84pf The whitepaper "Restructure Your Bank for the Digital Age Using APIs and Microservices," highlights the urgent need for traditional banks to adapt to the rapidly evolving Hashtag #financial landscape. Key Takeaways: - Challenges for Banks: Legacy systems hinder agility, making it difficult for banks to meet changing customer demands and compete with agile fintechs. - Open Banking Emergence: The rise of open banking presents both threats and opportunities. Hashtag #Banks must leverage standardized APIs and microservices to stay relevant. - BIAN Framework: The Banking Industry Hashtag #Architecture Network (Hashtag #BIAN) offers a standardized model for banks to modernize their core systems without completely overhauling existing infrastructure. - Componentized Architecture: By adopting a microservices approach, banks can enhance flexibility, scalability, and innovation, aligning their services with customer expectations. This whitepaper serves as a crucial guide for financial institutions looking to thrive in the digital age. Embracing these strategies will not only improve operational efficiency but also elevate customer experiences. Thank you Fiorano #banking #digitaltransformation #openbanking #APIs #microservices #fintech