In what’s set to be one of the most exciting FinTech weeks of the year, we are delighted to announce the launch of our Core Banking Platform here at the Innovate Finance Global Summit in London.
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FinTech is taking over London in 2017 as the Innovate Finance Global Summit convenes for two days on Monday 10th and Tuesday 11th of April, at the Guildhall and across the City’s Square Mile.
We are involved as a member so join us and an influential audience of 2000 key stakeholders at one of the world’s leading FinTech events. Tickets are available now: ifgs2017.innovatefinance.com
Traditionally, core banking systems have been developed as large monolithic systems. There are a few issues with this approach.
In this post we explore how legacy core banking systems can no longer be scaled and new technologies need to be embraced for banks to to get at the forefront of digital banking. Continue reading
Whilst everyone else went to immerse themselves in the latest PFM technology – or is it robo-advisory this year – at Finovate Europe, I decided to head to NTT DATA’s Open Innovation Contest Finalist Pitch Day hosted by Innovate Finance at nearby Level 39. NTT DATA not only operates in the banking and finance space but also realises projects such as the digitalisation of the Vatican library.
The contest is open to business ideas and applications related to the challenges posted by NTT DATA group companies across the world. Challenges which are not only related to FinTech as I found out later. The winner of the London contest will move on to the global round in Japan in March. Given that NTT invests $1.8 billion annually in R&D, certainly a good place to be.
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Since the financial crisis, the banking industry has been under tremendous pressure. Economic uncertainty, rising customer expectations, increased regulatory focus, intensified competition and new FinTech entrants are putting an increased pressure on bank’s revenue margins. These trends are creating an urgent need for innovation and cost reduction.
Is industrialisation the way forward for the banking sector to unlock innovation and agility?
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