Our extensive experience in defining, developing and implementing different retail and wholesale banking software solutions, makes us a leading company in the banking market. We are specialists in numerous areas:
Contract processing: accounts, mortgages, cards, funds, etc.
SEPA Transfer Regulation
Application of banking regulations
Our team of experts in banking and insurance analyses solutions (banking software, insurance software, banking applications, etc.) with the customer and accompanies them throughout the development and implementation process. We provide corrective and evolutive maintenance support for banking applications developed both by us and by third parties.
Our knowledge of the market enables us to develop and implement the best solutions and establish banking product plans on a national and international level.
We have extensive know-how for collaborating in transformation projects in technological banking environments, helping the customer to understand where they want to go, where they are starting from, and how to get there. We work by applying our methodology and internal management tools, as well as adapting ourselves to the customer's methodologies and tools.
Banking continues to enjoy the trust of its customers. However, traditional banking is being strongly affected by enablers and the expectations of customers, regulatory requirements, technology, demographics, new competitors and fluctuations in the economy.
From a technological perspective, the current trend in banking is focused on the following key areas:
Improving customer awareness
Multi-channel and multi-platform access
In banking there is a clear need to develop a customer-focused business model. Banking will be organised around the customer rather than products or channels. Banks will develop the capacity to see customers as a "segment of one", recognising that they are each unique and adapting the products that they offer.
Social networks will be the main means of connecting, involving, informing and understanding customers, from their behavioural patterns as a group to the special characteristics of each individual.
“Cognitive engagement”: Customers will be able to obtain quick and customised services, using data (industry reports, financial news, etc.) through advanced text interpretation and/or the interpretation of images/videos.
New business models. The current trend is shifting away from depending on physical infrastructures to accept payments. Some countries, such as India, have established regulations and devised new business models such as “Payments Banks” as an inclusive mechanism to reduce/eliminate cash payments for all sections of society.
BlockChain: this has emerged as a solution to reduce costs through the secure distribution/execution of transactions (“distributed ledger”) .
Banks are quickly working to identify possible partners and build relationships. Many banks have launched FinTech incubators, as well as investing in innovation laboratories. For example: BNP Paribas has launched its own internal accelerators/incubators/technology centres, Lux Future Lab in Luxembourg and TEB Startup House, and it has partnered with other interested parties from the ecosystem, like Partech Shaker and NUMA. Motif Investing has partnered with J.P. Morgan and initial public offerings will be available directly to retail customers on the new online brokerage platform.
Simplification/optimisation of businesses and operating models. Regulations such as PSD2, which obliges banks to open up their services to third parties, require the banking core architecture to be modernised. Banks will offer their products and services in the form of APIs, thus encouraging developers to create innovative applications that can be hosted on the app store of a bank. This strategy will allow banks to address weaknesses. Indeed, customers will be able to compare different banking products and services and have access to more customised resources in order to make decisions, thus increasing competition in the sector.
Monetisation of digital assets There are initiatives like the Open Bank Project that are designed to enhance the range of digital products from banks, using a third-party application ecosystem. It is hoped that white label solutions will be developed, solutions that will be used for a fee (API Economy).
Development of New Products and Services or Concept Testing. Banks will focus on revolutionising their Marketplace, innovating with new products and services for as-yet-unknown problems (anticipating new needs), or those needs which have not yet been properly met.
New ways for customers to interact with banks. Natural voice interpretation as a form of interaction is a trend that is already in its early stages and it will be as disruptive as the touch screen was for keyboards. For example: Capital One (“SKILL”) and Amazon (“ALEXA”) have combined to offer their customers access to their bank accounts and transactions by using voice recognition. Other banks, such as Wells Fargo, have launched initiatives and are researching the potential use of voice technology.
Advisory banking for risk management and training in legislative compliance up to the implementation of an advisory solution.
Cyber security. This will be a major trend in the coming years. The trend is to implement preventive security platforms based on the collection and ingestion of data from all systems, databases for storing information for real-time use, for Big Data analytics and for correlating all of the information, analysing behaviour and monitoring alerts.
Simplification/optimisation of businesses and operating models. Given the need to cut costs, banking is quickly adopting Blockchain. There is a great deal of interest in "authorised" Blockchains and the scalability models that will be used.
Big data, AI, advanced analytics and cognitive computing. Artificial intelligence and cognitive technologies are mainly being used in customer relationship management, identity authentication, the fight against money laundering, regulatory compliance, risk control and other operational aspects.
One area where banking struggles is giving customers access through remote channels.
Robotic Process Automation (RPA) Based on predefined rules, these tasks are performed with an operational precision of 100%, reducing the run time and associated cost.
Simplification/optimisation of businesses and operating models. One trend that will continue in the coming years is the use of public/private/hybrid clouds. This gives banks the agility and flexibility to increase their computing capacity or address the obsolescence of their current infrastructures, always pursuing cost optimisation.
Automated remote onboarding
A solution that allows bank customers to register and acquire products on their mobile device, unassisted and in a simple and user-friendly way.
Know Your Customer (KYC)
KYC means the controls and monitoring processes that a bank has to know about its new and old customers, to avoid maintaining business relationships with people involved in money laundering offences or terrorism. In Spain this is a legal obligation, governed by the Anti-Money Laundering and Financing of Terrorism Act (LPBC/FT), approved in 2010.
Banks are obliged to operate with an advanced KYC process where, as well as identifying the customer, general information will be obtained about them, such as their habits, tastes, hobbies, etc. This will make it possible to improve the product range and customer retention, using Big Data techniques that enable the simplification of operating processes and customer relationships.
Services in the public cloud
Using services in the public cloud will offer banks an improvement in terms of new features, flexibility and agility in deployment (time to market). The challenge lies in integrating new services offered from the public cloud with the current on-premise services.