The banking industry is undergoing significant changes as institutions transform and modernize their legacy systems. A recent survey conducted by Deloitte has highlighted four key trends that are shaping the evolution of banking. These trends include the migration of legacy enterprise systems to the cloud, the use of ML analytics for data processing, breaking data siloes with the help of cloud, AI, and ML technologies, and scaling cybersecurity capabilities with Zero Trust principles to combat fraud.
Fintech companies are providing innovative solutions to banks to help them adapt to these changes. Finastra, IBM, and Sopra Banking Software are among the leading fintech providers that are delivering solutions to banks today.
Finastra is a global provider of financial software applications and marketplaces that cater to institutions of all sizes. Their solutions cover various areas such as lending, payments, treasury, and capital markets. One of Finastra’s core solutions, Fusion Essence, is designed for retail and commercial banking and offers features for account management, deposits, loans, and customer engagement. Fusion Phoenix is Finastra’s open AI-enabled core banking solution that allows banks to integrate different products swiftly and capitalize on emerging trends.
FusionFabric.cloud is another product by Finastra that provides banks with an open platform for innovation to develop and integrate fintech applications. Fusion Treasury is yet another product by Finastra that offers solutions for managing liquidity, funding, and risk. These solutions provided by Finastra and other leading companies play a crucial role in helping banks navigate the changing landscape of the banking industry and adapt to new challenges and opportunities.
In conclusion
:quality(75)/cloudfront-us-east-1.images.arcpublishing.com/elcomercio/4RCQKDXWJ5CCXA7D5TIGZWXBIQ.jpg)
