Preparing for the New Growth Cycle: A Technical Blueprint for Banks
The banking sector is taking a new turn post-recovery. Prepare your technical action plan for 2021
Retail banks are entering a digital race. Branch dominance is being replaced by digital distribution excellence. Most leaders recognize this evolutionary trend. But few know how to sustainably steer their business in the right direction.
Three hot-button issues are rattling the minds (and budgets) of banking leaders:
- CX excellence: What technical shortcomings stand in the way of improving our digital service?
- Competitive pressure: Are we using IT infrastructure optimally to differentiate ourselves and excel over our competition?
- Regulatory requirements: How can we ensure full security coverage of our newly assembled digital infrastructure?
Given the uncertainty in the banking sector, a reluctance to interfere with existing technology (especially core legacy systems) is understandable.
Yet prolonged inaction can lead to obsolescence. By 2030, up to 80% of heritage financial services will cease to exist, become commoditized, or exit because they’re no longer competitive unless banks move forward with digitization.
This whitepaper proposes a three-step banking digital transformation roadmap for technical changes that are progressive, non-disruptive, and ROI-oriented. Learn how to shift budgets from maintenance to innovation, tackle technical debt, and arrive at a future-ready IT ecosystem without experiencing critical downtime.
A Three-Step Approach to Banking Transformations
We recognize that technology is a means to an end: lower operational costs, faster time-to-market for new products, increased workforce efficiency, and ultimately greater profitability.
Our goal is to help you ensure you’re putting your IT money to the best use — investing in initiatives that drive short-term ROI and long-term value enhancements — rather than acquiring state-of-the-art technology that may or may not pay off in the long run.
To determine what’s best for your business, our consultants rely on the following digital transformation roadmap for the banking sector.
IT advisory
The average bank relies on 20+ legacy systems developed over the years by the development team with a high employee turnover.
IT system compatibility stands in the way of moving forward with new tech acquisitions and adopting a digital transformation
roadmap for financial institutions.
Learn how to detangle conflicting infrastructure needs
Legacy modernization
Business continuity, security, compliance, lack of experience, and data management capabilities compel banking leaders not to fiddle with core systems. When financial operations are on the line, a one-minute glitch can translate into a hefty regulatory fine. At Intellias, we don’t treat legacy banking systems as a burden but rather as a foothold for innovation.
Learn how to sustainably build atop your legacy core
Digital transformations
Non-technical advisors will tell you that you need to digitize, innovate, and transform.
And then nor they’ll forget to build a digital banking
transformation roadmap so you know how you should do that. We operate in the opposite way. Our goal is to guide and support you through adopting new operational best practices — CI/CD, agile SDLC, DevOps, and SecOps.
Learn how to prepare your IT operations for the digital “normal”
No bank is too small to succeed or too big to fail in the digital growth cycle
In the emerging retail banking space, digital maturity will distinguish leaders from laggards. The most valuable profit streams — lending, wealth management, remittances — are now held by digitally mature movers. It’s time to act on tech and do so decisively, drawing on a digital transformation roadmap for banking companies. Download our whitepaper to learn about how to efficiently and progressively reposition your current IT infrastructure to meet emerging market demands.
