Tag: digital banking

As digitization rewrites the future of banking, traditional core systems are falling short. Transactions are increasingly moving to the digital realm, and banks find themselves looking at the mammoth task of processing thousands of transactions per second, particularly during seasonal spikes. Learn how Finacle’s digital banking solution suite on AWS delivers business agility, lowers TCO, automates intelligent operations, and accelerates ecosystem innovation.

Most banks are still running legacy core systems developed over 30 years ago for mainframe computing. These software applications pre-dated the internet and were monolithic by design. Finxact is an AWS Partner that was begun five years ago by a team of engineers with deep experience in the design of core banking systems. Its mission was to couple this domain expertise with the most modern cloud-based technologies and programming languages to produce a core platform for the modern era of banking.

Most financial institutions are at different stages of their cloud journey. Many are challenged with delivering new and enhanced services, providing services faster, and driving operational efficiencies while facing increasingly competitive markets. Learn how Avaloq has laid a good foundation to help businesses ease the journey of testing and integrating new solutions by managing the complexities across various phases utilizing Avaloq’s sandbox solution powered by AWS.

Open Finance initiatives have been gaining momentum across the world. These initiatives require that banks provide access to customer data through a common, open API for third-party applications, which are referred to as fintech apps. Learn how to build and deploy a basic fintech app on AWS in under an hour by using the Plaid Link API. This app allows users to sign up, log in, select their bank from a list, connect to that bank, and display the latest transactions.

Customer onboarding remains a challenging and time-consuming process for most banks. Both digital and traditional processes are often overly complex, resulting in lower conversion rates and higher cost of acquisition. To overcome these challenges, numerous financial institutions have started customer onboarding online. In this post, walk through the use case of one of the largest financial institutes of Europe for whom Infostretch provided a substantial breakthrough to onboard the customers digitally.

Innovations in AI technologies are yielding novel approaches to automation that fit the Indian market. Lumiq is spearheading such efforts and leveraging deep domain knowledge of the industry and machine learning to help create solutions for the future, today. Learn how Lumiq’s Drishti Document AI, an intelligent document parsing solution built on Amazon Textract, helps optimize and accelerate customer onboarding journeys.