innovation

Startups Should Engage With Banks Through Their Innovation Functions

For Fintech startups, it can be very difficult to initiate a bilateral relationship with banks when approaching them cold. Accelerators and innovation functions play an important role in connecting fintechs with banks and provide a solid route to market for new companies trying to break into this area. Accelerators sponsored by banks are a great…

legacy systems

Legacy Systems are Ageing, but Are Not on the Path to Extinction

Legacy IT systems are a fact of life in banking. All established banks have significant dependencies on core legacy services and most banking services are likely to touch these legacy platforms at some point during the execution of standard end-to-end business processes. These legacy systems are elderly in technology terms, dating back twenty or even…

Regulation vs Innovation

Regulation vs. Innovation in Financial Services

Financial regulation is essential for protecting the banking industry and consumers. Since the financial crisis, regulation has played an even greater role in financial services. This has led to increased scrutiny of banks and the way they operate, putting them under increased pressure. It is essential that they can prove that they are adhering to…

embrace innovation

Banks Must Embrace Innovation to Reduce Risk

In the ‘third wave’ of Fintech, financial services are working more closely with fintechs and using them to outsource parts of their value chain, such as payments. Although this collaboration can be hugely beneficial for banks and their customers, it does raise the question of how security will be affected. The risk associated with cyber…

implementation hurdles

Implementation Hurdles Hinder Innovation

We know that today’s hugely successful banks have had to invest in complex and capable legacy IT systems to serve their customers. This presents issues with making changes to deliver innovation or regulation. The operational risk associated with change is large, with Gartner quoting that 80% of major incidents are caused by changes. We believe…

release operations

How We Handle Incorporating New Things into Existing Operations

For enterprises, doing new things is almost a daily requirement, whether driven by competition, regulation or curiosity. Here we look at several approaches to tackling release operations. To choose the right new things to do, and to transition this updated capability into the operational machine of the organisation, people are forced to tackle complexity and…