Digital disruption has been driving banks and financial institutions to consider digital as part of their progressive modernisation strategy. Most of the banks from Commercial banks, State-owned government institutions, local banks, Co-operative banks and Islamic banks have incorporated Digital initiatives as part of their corporate strategy.
In line with global trend, banks are also focusing their digital strategy primarily on consumer banking products/services for the mass customer segment and More than 76% of Banks across the globe are planning to adopt the agile development process.
The banks are aware that the existing systems require some level of modernisation whereas replacing the entire eco-system could be time consuming with significant resource commitment besides the operational risk involved due to transformation complexity and disruption of business as usual. This makes the market more flexible to offer Digital savvy products to end customers without increasing the need for opening up new branches.
Intellect has immense experience in Progressively Modernise the financial institutions across the globe with our flagship “Intellect Digital Core” (IDC) Platform. The category of institutions spans across Central banks, Commercial banks, Co-operatives, BPDs to name a few. We understand their business priorities, target segment, roadmap and the existing IT landscape and were able suggest a modernization path and our offerings with a next generation architecture and minimal impact and utilisation of existing technology.
We believe that the Progressive modernisation initiatives can never follow a one size fits all approach. It requires an agile mind-set of re-imagining and modernising the core.