RevTech News Room’s Post

Discover the future of Banking as a Service trends for 2024! Explore the impact of API-driven ecosystems and AI in revolutionizing banking for a more tailored experience. Stay informed and explore more here👇 https://okt.to/chIsj5 #BankingTrends #BaaS #FinancialInnovation

Thought Machine has partnered with audax to transform and modernise the banking technology landscape 👏 🏦 🤯 By 2032, digital banking is projected to be a $13 TRILLION opportunity for banks, with Thought Machine and audax are set to be KEY players in delivering innovative digital banking and BaaS solutions that meet consumers’ needs 🚀 🤝 This joint solution can also SEAMLESSLY integrate with a bank’s current infrastructure, enabling FIs to rapidly establish a new digital bank or offer BaaS at SPEED! 👨💻 “audax understands that the future of financial services hinges on the strategic collaboration between technology solution providers to empower incumbent banks and financial institutions as they begin their journey to adapt to a rapidly evolving financial services landscape,” said Kelvin Tan, CEO of audax. “This joint solution provides customers with the ability to obtain hyper-customised offerings, and we look forward to delivering these robust end-to-end digital banking solutions that address the diverse needs and use cases and needs of various financial institutions.” Find out more on the link below! 👇 Ciara S Paul Taylor Travers Clarke-Walker Gareth Richardson Harry Margiolakiotis William Montgomery Anthony Horner Alexa Wasielewski Freya Steveni Sachin Rajat Sharma Fernn Lim Karthik Sethuraman Wenting Chen Smriti Gupta Mathur    #thoughtmachine #digitalbanking #cloudbanking #technologystack #bankingplatform #financialservices #digitalbanking #bankingasaservice #fintechinnovation #audax

The Future of Banking is Digital Transformation 🚀 Banking technologies are rapidly transforming, with digital innovation leading the charge! Automation, advanced analytics, and streamlined workflows are helping financial institutions operate more efficiently, while maintaining data security and compliance with strict industry standards. Technologies like these not only cut operational costs but also enhance customer experience, allowing banks to offer personalized, on-demand services. As the banking industry adopts AI-driven insights and robotic process automation, the opportunities for innovation are endless. Banks can now transform legacy systems, modernize processes, and drive more value in every transaction. Let’s unlock the future of banking together 🌐 #FinTech #BankingInnovation #Automation #CloudTech #DataSecurity #DigitalBanking https://lnkd.in/eUVQiZge

Unlocking the Future of Digital Banking with API Integrations 🌐💳 In today’s rapidly evolving financial landscape, API integrations are not just a buzzword—they're a game-changer. As we advance further into the era of digital transformation, the integration of APIs (Application Programming Interfaces) is reshaping the way banks operate and interact with customers. 🔍 Why API Integrations Matter: Seamless Connectivity: APIs enable banks to connect effortlessly with third-party services, fintech innovations, and financial ecosystems, fostering a more interconnected and efficient financial environment. Enhanced Customer Experiences: Through APIs, banks can offer personalized services and innovative solutions—think real-time account information, seamless payment experiences, and tailored financial advice—all directly within a customer's preferred applications. Operational Efficiency: By automating and streamlining processes, APIs reduce manual work and operational overhead, allowing banks to focus on strategic initiatives and improving their core services. Open Banking Revolution: APIs are at the heart of the open banking movement, enabling secure data sharing and fostering competition, which drives innovation and better financial products for consumers. 🌟 Implications for Digital Banking: Innovation Acceleration: APIs open the door to new technologies and partnerships, enabling banks to quickly adopt and integrate cutting-edge solutions without overhauling existing systems. Increased Agility: With APIs, banks can rapidly adapt to changing market demands and regulatory requirements, enhancing their ability to respond to customer needs and market trends. Enhanced Security: APIs facilitate secure data sharing and transactions by implementing robust authentication and authorization mechanisms, ensuring that customer information remains protected. As we navigate this digital transformation, embracing API integrations will be key to unlocking new opportunities and driving the future of banking. Let’s harness the power of APIs to create more dynamic, secure, and customer-centric financial solutions. 🚀🔒 #DigitalBanking #APIs #OpenBanking #Fintech #Innovation #BankingTransformation #CustomerExperience #TechInFinance Feel free to customize the post to better align with your personal style or specific focus areas!

Embracing the Future: Navigating Legacy Platform Transformation in Banking Embracing the future in banking means facing the pressing need to modernize legacy platforms. While these outdated systems pose challenges, such as costly maintenance and compliance risks, the advantages of transformation are too compelling to ignore. By leveraging cutting-edge technologies like AI and automation, banks can streamline operations, enhance customer engagement, and ensure security and compliance. This isn't just about replacing old systems—it's about reimagining banking itself. The future of banking lies in embracing change, driving innovation, and setting the stage for success in a digital world. #futureofbanking #BankingTransformation #FutureofPayments https://okt.to/91cqOM

Did you know? The #GenerativeAI market in banking and finance is projected to reach $21.8 billion by 2034! By automating processes, enhancing security, and delivering personalized services, #GenAI is setting a new standard for efficiency and customer satisfaction. Discover innovative ways to achieve smarter and more efficient #banking operations. Read more: https://lnkd.in/dE3zss5f #AIinBanking #BankingTechnology #RishabhSoftware

Innovation in bank technology is essential for all institutions. While progress often starts with the largest banks, it sets trends thta impact infrastructure, operations, and customer experience for everyone. Executives need to understand these trends and decide how to react. To sum up this article, banks need to focus on these key areas for the next five years: Next-Generation Infrastructure: Transition to a microservices-enabled, API-native architecture and cloud-based core systems. Modernizing legacy systems is challenging, so consider incremental upgrades and best-in-class solutions. Prioritize security and regulatory compliance. AI, Analytics, and Automation: AI and robotic process automation can enhance operational efficiency, customer service, risk management, and data analysis. Generative AI is the next frontier, but governance and risk management are crucial. Mobile Banking and Customer Experience: With the rise of mobile banking, investing in seamless, user-friendly mobile apps is essential. Reevaluate the cost-effectiveness of other channels like voice response units. Enhanced ATM Capabilities: Modernize ATMs to offer more services, such as video banking and advanced cash handling. This reduces the need for physical branches while maintaining customer interaction. Blockchain Technology: Blockchain can revolutionize transaction processing, security, and real-time payments. It also supports regulatory compliance and identity verification. Smart contracts simplify agreements between parties. Collaboration with Fintechs: Banks should develop a fintech partnership strategy, including strategic partnerships, investments, joint ventures, innovation labs, and hackathons. This positions banks as innovators in the market. To succeed, executives need a clear strategy and execution plan. Innovation should be a branding tactic for progressive banks. Prioritize technological advancement and fintech partnerships, and build a roadmap that embraces next-generation technology. #ccgcatalyst #bankinginnovation #techplaybook

Optimized customer journeys that drive automation and frictionless integration of technology. Consumer technologies has adopted this strategy since years, now it’s ready for prime time at consumer banks. #banking #selfsevice #verticalintegration #cloudnative #payments #dnproud #atm #customerjourneys

Have you ever heard the term Proactive Banking? In the rapidly evolving world of digital banking, the distinction between proactive and reactive banking has become increasingly significant. Technology has changed, and with it - customer expectations. But what does proactive banking entail and how does it differ from reactive banking, the method most used by established banks today? 💡 Read our latest blog to find out: https://lnkd.in/eMbHha66 #meniga #digitalbanking #technology #AI #fintech #neobanks