• Twitter Social Icon
  • Google+ Social Icon
  • LinkedIn Social Icon

PaymentFix is our monthly newsletter, subscribe here.

© 2016 MagnaCarta Communications

Please reload

Recent Posts

Visa tackles speed bumps on US EMV journey

August 28, 2016

1/1
Please reload

Featured Posts

fiveºdegrees Insights Paper Launched in Partnership with MagnaCarta

March 13, 2018

 

 

Making the Switch. Rewiring Banking - an Insight Paper from MagnaCarta and fiveºdegrees.

 

In this newly launched paper we've collaborated with fiveºdegrees to look at the five steps to managing the digital banking transition.

 

"Making the Switch" includes insights from interviews with heads of digital banking and innovation at traditional and challenger banks across Europe, fintech engineers at fiveºdegrees, and draws on data from the Fintech Disruptors 2018 research to explore the drivers, requirements, challenges and opportunities offered from making the transition to a fully digital banking enterprise.

 

Download the paper here

 

 

Executive Summary

 

Every journey starts with a single step. Incredibly, given where the industry has come from in the last decade, across Europe that first step has largely been taken as banks throughout the region have crossed the digital threshold, and come to terms with the notion that change is unavoidable. More interestingly, though no-one denies the scale of the challenge, change is today more often perceived an exciting opportunity, than an existential threat. 

 

Acknowledging that digitisation is very much a work in progress, not just for individual banks, but for the industry as a whole, it nonetheless identifies common themes across the sector and a new sense of realism replacing some of the more unsubstantiated promises of previous years.

 

 

Key findings - The rewired banking philosophy

 

1. Services over screens

Don’t let your channels get in the way of great service and a greater experience. Separate business logic from the service layer to move from omni-channel to omni-access.

 

2. Keep client data out of core systems

Reduce system complexity. Use core banking systems to create products and manage transactions with customer data in a middle layer to enable a 360-degree customer view.

 

3. Your customers are your best employees

Improve customer satisfaction by liberating your customers. Use tooling that allows you to give them as much autonomy as you can. They know what they want – so let them get on with it.

 

4. Open up for APIs

Marketplace banking is the new normal. Use an open architecture solution like Matrix as a gateway to connect with other providers and unlock the full potential of the fintech eco-system.

 

5. Partners as enablers

Pick partners that give you the flexibility and control to change when you need to change. Reduce vendor dependency with configurable solutions thatlet you build and develop independently in an agile way.

 

Download the paper here

 

Please reload

Follow Us
Please reload

Search By Tags