Do you want to be left with a Choluteca bridge; a landmark bridge over nothing, to nowhere…? It’s time to change our perception from ‘Built to Last’ to ‘Build to Adapt’. Staying relevant in today’s times is not an option but the only solution for banks trying to keep pace with the rapidly evolving digital-native challengers such as BigTechs and FinTechs. Legacy banking methods are a deterrent to transformation of mid-market banks hindering their transition to the future state of banking.
To adapt to changing market dynamics, customer and technological needs, it is critical for banks to be agile and scalable. With delivering banking as a product to leveraging it as a service, banks are embarking on a modernizing journey to rearchitect old modules strategically. Leveraging APIs to derive data and interacting with the external world, banking today is undergoing a digital revolution to elevate the overall experience of the customer.
With the disparity between legacy systems, the focus has remained on strengthening their enterprise security and compliance. Legacy core banking transformation seeks relevancy in the bank’s current strategy, which is primarily digital, open banking and integrated to augment a unique customer journey to add measurable customer value.
With more than two decades of experience in delivering disruptive and effective business solutions across the globe, Hexaware’s Digital Banking practice partners with leading banks, challenger banks, Fintech players and financial services organizations to drive holistic digital transformation.
Our expertise spans across digital enablement of incumbent banks while exploring emerging Neo banks. Enabling innovative technologies, we aim to help incumbent banks embrace Open Banking for an improved customer experience and collaboratively build advanced, mobile-first suite of financial services.
We assist customers in their digital transformation by understanding their requirements and determining the phase that they are in of the core banking lifecycle. Depending on the span of the core banking system, a digital interface or an organic digital core is implemented to make their digital transformation seamless, agile and cost-effective.
We have partnered with firms that are future-ready offering scalable and automated customer journeys.
Before you set out on your transformation journey, let’s analyze your position in the existing digital lifecycle vs. where you want to be. You can arrive at the future state faster by leveraging our 2 frameworks namely C-Beads and COPSID to enable digital transformation engagement.
C-Beads framework helps identify future state gaps with the help of consulting toolkits and conducts assessment based on set parameters which include Business Imperatives, Engagement Experience, API-fication, Data Science Techniques and Security Challenges.
COPSID framework helps in implementation of any offering while enabling the operational efficiency using integrated data exploration tools.
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