Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Reimagining Your Core: How Banks Can Thrive Amidst Rapid Technological Change

Narendra Mistry, CPTO of Universal Banking at Finastra, emphasises that banks must adapt quickly to evolving technology and customer expectations. Success lies in implementing efficient core banking systems, that enable innovation at scale and at pace, while navigating AI and data with a focus on mindset and business services. Lean systems, like those of neo and digital-only banks, are good, but long-term growth requires a clear vision, a strong culture and breadth of capabilities. For established banks with pre-existing infrastructures, symbiosis – where next gen solutions are deployed alongside existing solutions – can offer a fast way to deliver outstanding experiences, stay ahead of competitors and, when appropriate, ease transitions.

24 July 2024

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Adapting to change: How financial institutions can revolutionise core banking systems

Siobhan Byron, EVP of Universal Banking at Finastra, discusses how innovation is not just limited to the neo and startup banks, indeed established banks are combining the move-fast philosophies of the emerging players with their own considerable assets. The conversation highlights the need for financial institutions to have a clear vision and strategy, find the right pace and technology for transformation, avoid high-risk methods, outline the challenges of losing market share, talent, and the ability to meet future needs if institutions fail to stay current and innovative.

24 July 2024

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The Importance of ESG when Choosing a Technology Provider

Join FinextraTV at the Temenos Community Forum 2024 as Kalliopi Chioti, Chief ESG Officer, Temenos and Christian Sarafidis, Chief Executive, EMEA Financial Services, Microsoft, dive deep into how choosing the right provider and right partner is crucial for ESG. With increasing pressure coming to the fore from regulators, organisations have no choice but to consider their reputations. This journey cannot be completed alone, so partners are of paramount importance, in addition to technologies such as cloud and AI to drive sustainability efforts.

17 July 2024

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What African Banks are Prioritising Today

Join FinextraTV at the Temenos Community Forum 2024 as Lee Allcorn, Managing Director, MEA, Temenos and Deribie Asfaw, President, Cooperative Bank of Oromia talk about the priorities for banks across the African continent and the speed at which business and innovation operates here. Today, clients are prioritising trust, security and ensuring that their investments are as risk-free as possible. In addition to this, providing services to those that are unbanked and underbanked in a low cost manner continues to be an issue to be resolved. The conversation also turns to scalability, as financial institutions in Africa look to reach new channels and new markets.

15 July 2024

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Core Banking Transformation: Enabling Future Growth at a Systemic Bank

Join FinextraTV at the Temenos Community Forum 2024 as Mick Fennell, Business Line Director - Payments, Temenos and Serge Munten, Head of Transformation, Banque Internationale à Luxembourg discuss their digital transformation project and the obstacles the bank faced when modernising core banking and payments capabilities. Scoping out the project, it is explored how BIL decided to completely revisit their IT landscape to enable the bank to manage higher transaction volumes, keep up with changing regulations and drive future growth.

12 July 2024

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Considering Cloud? Here are the options for banks

Join FinextraTV at the Temenos Community Forum 2024 as Tony Coleman, Chief Technology & Innovation Officer, Temenos and Keith Lynch, Head of Enterprise Business, EMEA, Red Hat dive deep into why choice remains a fundamental tenet for the banking industry and how cloud migration is no exception. A bank in 2024 has many options, whether it is moving to public cloud, where technology stacks are supported by hefty players such as AWS or Azure, for example, or working with SaaS providers. The conversation also shifts to expanding on the benefits of private cloud where cloud-like deployments are established. The advantages of hybrid cloud are also prevalent, where one technology stack can run across multiple footprints, allowing organisations to build an app once, but deploy it everywhere with open source technology.

11 July 2024

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Why Flexibility is Paramount to Core Banking Transformation

Join FinextraTV at the Temenos Community Forum 2024 as Rodrigo Silva, Executive Vice President, Americas, Temenos, and Charles Kim, EVP & CFO, Commerce Bank, explore the path towards digital transformation and the challenges that both organisations had to overcome. The duo delve deep into the journey undertaken to update 30+ year old core banking systems across the business because they no longer met the bank's needs, due to their inflexibility. Starting with customer service and deposit systems, they highlighted that the next stage of the process was to transform private banking and lending, where flexibility was needed when underwriting loans. Core banking transformation can also support the wealth segment, where there is more complexity and compliance needs to be kept pace with.

28 June 2024

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Instant Payments and the Opportunity for New Technology Strategies

Daragh Kirby, Head of Sales & Marketing, Intercope, speaks at EBAday 2024, about how instant payments allows banks to no longer use cumbersome core banking systems to process transactions – whether it be SEPA, cross-border or RTGS payments. We explore how financial institutions are now looking to more suited technologies so instant payments can be made in a leaner way and with lower latency, to support meeting regulation timelines and reap the rewards that are available with faster transactions.

20 June 2024

Finextra TV/payments

SEPA Instant Mandate: Racing to European Banking transformation

Ainsley Ward, Vice President at CGI, and Global Business Development lead for CGI’s Payments Solutions, sheds light on European Parliament's SEPA Instant Mandate and the 9th of January 2025 deadline for Eurozone banks. With the Federal Reserve's FedNow initiative connecting 400 banks in a year underscoring varying market readiness, challenges still persist. We discuss alternatives found in new technologies and scepticism over universal compliance in anticipation of EBAday, where stakeholders can converge to navigate regulatory complexities and seek solutions in this digital era.

17 June 2024

Core banking systems