Today’s banks and fintechs need an agile platform where they can quickly develop and scale innovative services while staying compliant, maintaining security, and preventing fraud. Credit: Asia-Pacific Images Studio The financial services sector is undergoing rapid change as fintechs develop convenient, consumer-focused services that were once the province of traditional banks. We spoke with Siddhartha Gupta, Global Head of Application Modernization on Azure at Tata Consultancy Services (TCS) , about this trend and what financial services organizations need to do to improve their capacity for agility and innovation. What are the greatest challenges that financial services firms face with their digital transformation initiatives? Many established financial institutions have very good core business capabilities, but their technology platforms tend to be archaic and rigid. A modern bank must have an agile, open, and intelligent systems architecture to deliver the digital services today’s consumers want. That is very difficult to achieve when the systems running their business functions are resistant to change. This is the fundamental digital transformation problem that financial services organizations are facing. These organizations have two choices: They can modernize their architecture and develop the technology they need in-house or collaborate with fintechs to do it for them. […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
