DID YOU KNOW ?
Technology & embedded finance is changing the future
• Embedding AI everywhere : This could be applied in numerous daily operational processes as well as product innovation – or help us better obsess about the customer experience .
• The expanded use of “ Open ” through cloud and APIs : The vast majority of innovation occurs outside your company ’ s walls – leveraging the partnership ecosystem will be increasingly important .
• Overall , technology evolution : underpins how we deliver continued efficiency , expand our reach into new addressable markets , connect people and improve the way we serve our customers . Essentially , as the world shifts from creating products to solving problems , technology will be at the heart of every decision .
On managing challenge
Russ Soper shares his top three tips on managing challenges within the industry . He says ,
• Do the fundamentals to a high degree of quality : As technologists , we can sometimes focus on new , exciting tech – but there is no substitute for doing the fundamentals well .
• Listen , solicit ideas and build consensus . Your colleagues and the industry will have great input to many issues you ’ re likely to encounter . Broad ideation and consensusbuilding are force multipliers .
• It ’ s all about execution : Get a straightforward plan together , get buy-in on that plan and execute . Don ’ t let the plan become a greatlooking deck that didn ’ t deliver the intended value .
Technology designed to accelerate customers ’ growth
• Finastra provides essential core systems that institutions use to run their daily operations .
• FusionFabric . cloud enables customers to access these core systems and add new functionality via APIs ; they can build themselves or choose from our library and fintech partners . This could be to solve a specific regulatory or reporting requirement , add a new product feature or capability , or a new third party innovation .
• An agile approach to product development : At the onset of COVID , the company created a solution in just two weeks to help community banks and community development financial institutions issue the Payment Protection Program in the US , which it offered free to approximately 400 smaller institutions .
112 January 2022