How to Boost Your Digital Banking Business

The banking industry is changing rapidly and moving towards digital. This is evident from our banking market research as well as from the current pandemic environment. This suggests that we are now in a period of volatility and industry change, and that digital maturity will be one of the factors that will separate future winners from losers.

The question that a lot of banks are struggling with right now is how to take that first step in the right direction. With so many technological advancements happening all around us, it can be difficult to select the right technologies and then to integrate them with our existing systems without losing time or wasting money. Banks are not just tasked with looking ahead to the future, but rather becoming Future-Ready Now.

North American clients often come to us because they're struggling to keep up with the digital age. Their core systems are outdated, and this is causing problems with providing a good customer experience. This makes it hard for them to compete against other companies. We tell our clients that when they're ready to start making changes, it's important to keep three things in mind: being open, modern, and secure. They should also think about how new applications will work with each other, if they'll need cloud hosting, and if they can use best-of-breed technology. These changes can be a lot to handle, but by working with a team of experts, we can make sure that the process is as smooth as possible.

The recent partnership between Finxact and Backbase highlights the power of cloud-native platforms and open-API digital banking. With Finxact's elastic headless core as a service, is paired with Backbase's omnichannel digital banking platform—the "front-page" technology of a bank's interface. Accenture’s Centers of Excellence have been growing our capabilities in relation to both of these fintechs. As a result, we are fully capable of supporting this timely integration and helping banks develop a blueprint to adopt these technologies.

We're excited to announce the integration of two amazing fintechs: Finxact and Backbase. As highlighted in our recent webinar, in this new partnership, Finxact's elastic headless-core, offered on A bank's interface is powered by Backbase's omnichannel digital banking platform, an as-a-service model. Together they showcase the power of cloud-native platforms and open-API digital banking.

At Backbase, we have a lot of experience with different aspects of the financial industry as well as the technical know-how to help you make the most of Finxact. We're always adapting to changes in the digital economy so that we can provide you with a user experience that is convenient, enjoyable, and technologically flexible. This way, your financial institution can be prepared for the future. Right now!

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