I’m just saying: musings on digital and core banking systems

Dubai shows that having a compelling vision and purpose from the very top is key to transformation.

When it comes to the future, now is the time for planning and action.

It’s easy to get carried away with focusing on just agility and change/innovation.

If banking were a race, it would be an ultramarathon. It's better to be slow and steady like the tortoise.

The direction of travel is clear – we are all going to be increasingly multi-banked. But is that a good thing?

In a world that is increasingly open tech vendors need to increase their transparency too.

The rapid evolution of technology has allowed smaller companies to reinvent core banking.

Wouldn’t it be great if you could replace your core banking tech or any system on a regular basis?

As the rate of change accelerates, banks must prioritise adaptability and innovation.

Every bank must at least be investigating the art of the possible with new technology for core banking.

As the rate of change increases, a bank’s ability to adapt becomes even more important.

Banks have a significant opportunity to take advantage of the digital shift driven by the next generation of customers.

The history of banking software is driven by the march of technology and ever-changing customer demands.

The UK needs to prioritise and accelerate digital identity adoption to avoid falling behind.

There is a huge sense of urgency, commitment and purpose behind fintech in the UAE.

While a multi-cloud strategy offers potential benefits for banks, it also introduces significant challenges.

Simply moving old software to the cloud will not necessarily save you much money.

Being cloud native and supporting multi-tenancy are key considerations when looking at a new core banking solution.

Cloud is all the rage again, and the advantages for banks of being truly cloud native are huge.

Vytautas Danta, CCO and deputy CEO of Revolut’s European entity, discusses the fintech's remarkable rise.

Lithuania is making its presence known in Europe's burgeoning fintech scene.

There are huge opportunities for real-time banking to hyper-personalise banking.

The business of banking is changing, and much of that is only possible with new core technology.

For banks, what would the ultimate core look like?

A new phase of core banking has started, and there is more work to be done.

Not every problem is a nail that needs a hammer when it comes to AI.

Incumbent core banking vendors have become the very thing they have been selling banks to replace.

Composable architecture creates real flexibility for banks looking to make changes to their cores.

Let's be realistic. “Digital” banking alone is not going to kill off “legacy” or incumbent banks anytime soon.

For banks, core replacement is not the only game in town, with core modernisation being a far less risky option.

The idea of personalisation has been around for decades in banking, so it's time customers get what they deserve.

Even if we have all the data on our finances, we need to be able to understand it.

In the race to optimise cost and efficiency through technology, let’s not forget to ensure a human touch remains.

For me, enhancing the customer lifecycle is the most exciting and impactful use of AI.

APIs should be seen as strategic by banks.

The best time to start looking at AI was yesterday, and the next best time is today.

Having a single view of customer data can help banks streamline their operations.

As a coder, I always thought that software was key, but I soon realised the value was really in the data.

You should always have a clear understanding of exactly what you’re building before you get started.

For me, the level of funding going into a market is not a good measure of success.

With the finite resources of a small bank, credit union or building society, the future could be daunting.

Defining the future of banks is much more complex now than it has ever been.

The BaaS companies that will succeed will be those with a strong growth strategy.

There is more turmoil to come in the core banking space.

If you treat core transformation like a standard large project, your chances of success are slim.

Let's kick the year off with a look at where the winners and losers will come from over 2023.

A fictitious story about the birth of a new neobank at Christmas.

What are the main reasons or drivers for changing your core? I can think of a few.

Federated technology could offer banks a number of benefits and play a huge role in their internal transformation.

It's now much more possible for banks to create innovative new products.

I believe it's been almost 30 years since banks truly innovated on products for retail customers.

As industries merge, the need to mix and match software continues to grow.

Firms need to adopt a new way of working to enjoy the full benefits of composable banking.

Flexibility, agility and innovation are core competencies that will keep banks competitive through the next decade.

Composable banking allows FIs to simplify a perennial tech challenge: systems integration.

Composable banking – one of the most exciting and promising developments for core banking.

The market for core banking software is not “a winner takes all” opportunity.

We are fast approaching the time finally being right for programmable banking.

Should larger banks be looking to write their own core? I'm not so sure.

There's recently been a big rise in the number of players vying to be the core banking provider of choice for banks.

Banks can make a significant difference to the planet, to their customers, and ultimately to their bottom line.

Banks should be proactive in helping us manage our money better in the good times and the bad.

Banks and fintechs need to step up their game to serve customers better when it comes to money management.

It's easy to forget that banks have been through some huge transformations in relatively short windows of time.

Having a presence in the metaverse seems inevitable, and the best time to understand the possibilities is now.

Banks should be in a strong position to support landlords, but unfortunately, this is rarely the case.

Banking has a bigger role to play in climate change than many of us realise.

The impact of open banking is on the scale of the industrial revolution. It just needs time to fully play out.

For traditional banks, there is clearly more that can be done to help those suffering from mental health issues.

Covid has changed the world, and now we have to pick up the pieces and deal with the aftermath.

With the concept of metaverses gaining traction this year, what opportunities are there for banks?

Now is the best time for banks to plan and explore the future before the wave of change hits.

What if you had a digital twin that could manage your money faster and better than you?

Banks should aim to utilise more data to become a personal banking assistant for your money/wealth.

Banks have huge amounts of customer data, but do they have enough?

We are still at the start of the journey with open banking and have yet to see its full potential.

How proactive have UK banks been with their API strategy?

Has open banking delivered on its promise of driving innovation and competition?

Experience owners seek to fulfil end-to-end customer journeys for their niche segment.

A strategic choice whether you become a platform to enable experiences or you own experiences.

Gen Z is already forming an opinion about banks that is not favourable. Have the banks lost the battle for Gen Z?

Leo is ahead of many banks when it comes to cloud technology.

I used my phone for so many things. How would I survive without it?

The opportunity for BaaS is huge and compelling, but the journey to get there is long and complex.

In over 30-years of banking, I have never seen a more complex and competitive landscape as there is now.

This battle is for core banking software, challenging the likes of SAP, Finastra and Temenos.

Banks have relied on the “five p’s” – people, physical cash, premises, processes and paper.

Charles Dickens' popular novel, "A Christmas Carol", gets a banking spin.

As the new kids on the fintech block start to mature, I do hope they support the broader community.

Banks that want to own their distribution should also have a strategy for DBP in place.

Any one of these layers may have its own technical architecture or even be a separate business.

Is it time that we jumped from the app bandwagon?

The plethora of digital engagement platforms out there are really just very basic gamification platforms.

I’m just saying there is an opportunity to learn how to “gamify” banking today.

Every bank needs a single brain to anticipate the needs, wants and quirks of every customer.

For a bank to engage with a customer, they need to go beyond the initial request.

In banking, a legacy product core based on old technology can’t simply be modified.

I’m not saying that digital transformation is just a case of implementing a DBP.

The separation of customer management from product management has very strong advantages.

Highlighting how tech companies have come to the rescue during the COVID-19 crisis.

He highlights the positive impact of the current situation and how our past was not necessarily better.

I think what we (business owners) really want is an experience driven bank.

Europe and USA have to create their own ecosystems to compete with the East.

It's time to drop the words "digital" and "tech".

Surely banking customers want and deserve better banking?

So, what can banks learn from Amazon? In a nutshell it should have these key features.

The secret is not just about being frictionless and digital.

Will banks ever truly reinvent banking?

Banks need to identify new segments and go beyond banking

Recognising who customers are, what they believe, how they respond and act.

Finally customers will get help in managing their lifestyle or life stages.

A truly digital organisation can live without one of the five P's that typically creates friction.

It's best to be clear whether it's truly digital or whether it is in fact digitisation.