New combined solution helps banks become Future-Ready Now
We all know the industry is rapidly moving to digital. Evidence from our banking market research—and echoed by the current pandemic environment—suggests that we have indeed moved into a period of volatility and industry change, and that digital maturity is at least one of the factors that will separate future winners from losers.
The question facing all but a handful of banks at the moment is how to take the first step. Selecting the right technologies is difficult and integrating them with existing systems—so as not to lose time or waste money—is even more challenging. Banks are tasked with not just looking ahead to the future but, instead, becoming Future-Ready Now.
We often see the difficulties our North American clients face as poor customer experiences and outdated core systems hamper their ability to compete at the digital level. When embarking on front-end and core transformations, it’s imperative for financial institutions to prioritize the ability to be open, modern and secure. They also need the agility for seamless integration of applications, API management, cloud hosting and plug-and-play of best-of-breed technology. This breadth of transformation can be overwhelming.
For these reasons, I’m excited that we’ve driven the integration of two complementary fintechs: Finxact and Backbase. As highlighted in our recent joint webinar, in this new partnership, Finxact’s elastic headless-core, offered on an as-a-service basis, is paired with Backbase’s omnichannel digital banking platform—the “front-page” technology of a bank’s interface. Together they showcase the power of cloud-native platforms and open-API digital banking.
At Accenture’s Centers of Excellence, we’ve been growing our capabilities in relation to both of these fintechs. This allows us to fully support this timely integration and helps banks create a blueprint to adopt these technologies.
We’ve worked alongside Finxact as its first official SI partner, helping deliver the majority of its implementations. And last year, won the Backbase Customer Success Award for our innovation in customer implementations. Our ability to contribute functional project management and business analysis in addition to technical architecture, development, DevOps and more, adds enduring value to the combined offering.
Our depth of industry experience and integration expertise unlocks the potential of Finxact and Backbase, by embracing change and evolving with the digital economy. This ensures a user experience that is convenient, enjoyable and technologically flexible, making your financial institution, Future-Ready Now.
If you’d like to find out more about our partnership you can read the announcement here. You can also contact us at AccelerateBanking@accenture.com. We’d be happy to demonstrate our customer journeys virtually, via our Innovation Hub in San Francisco.
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