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Exploring Risk Management and Advantages for Banks Through Cloud-native Core Banking
Banks are on a mission to increase their implementation of cloud technology within the coming years. However, there are a number of financial services companies that are still hesitant in their cloud journeys. The barriers to adoption vary, from the complexity of legacy systems, to trust and skills gaps, regulatory uncertainty, and fragmentation of compliance requirements. according to a Google Cloud study.
Nonetheless, forward-thinking establishments are creating new standards - showcasing a 30% Cost-to-income ratio by emerging banks, 40% Application software on the cloud by 2022, as suggested by Gartner, and an impressive addition of 918 million transactions per month within a 3.5-year period of initiating open payments.
So, what's the roadblock? And how can banks leverage the potential benefits of cloud banking—such as cost reductions, superior products, enhanced customer experiences, and sophisticated data handling?
The Key to Digital Transformation is Cloud Adoption. Here's why:
The digital age has revolutionized the way customers interact with banks. Two decades ago, more than half of banking operations took place within physical branches; today, over 90% of all transactions are carried out via digital self-service channels. The convenience of accessing banking services anytime, anywhere has led to an exponential increase in bank transactions.
Special shopping days like Cyber Monday, Big Billion Day, and Singles' Day create sudden surges in transactions, adding stress to already strained banking systems. As the volume of transactions rises, maintaining the necessary IT infrastructure to cope with peak loads becomes unmanageable for banks. Fortunately, cloud technology offers a flexible IT infrastructure that can effortlessly scale up or down based on demand.
The Power of Cloud-enabled Core Banking
The moment is ripe for banks to exploit the numerous benefits offered by deploying core banking solutions in the cloud. In this gathering, we'll delve into the risks and rewards involved.
We invite you to this exclusive Infosys Finacle round table discussion where we'll tackle key points such as:
The recent surge in confidence toward cloud strategies
The essence of cloud-based core banking, its use cases, and the rationale behind the shift to cloud-native core banking, and the migration to a cloud-enabled core
Discussion on strategies for banks to transition to a cloud-based core
Security and regulation - Data security remains the main concern preventing banks from embracing more ambitious cloud strategies
The impact on customer experience
WHAT TO EXPECT
Exclusive invitation with sumptuous executive brunch served throughout the day
EXCLUSIVE BUSINESS EXCHANGE
Maximise your business exchange outcomes
AWARD WINNING SOLUTIONS
Witness the innovative solutions that are transforming the banking industry
CONNECT WITH THE BEST
Exchange Business Cards with Key Industry Leaders
OUR UNIQUE FORMAT
WHAT BETTER NETWORKING OPPORTUNITY THAN A FIVE-STAR BRUNCH, WITH A BOTTOMLESS SUPPLY OF DELICIOUS BEVERAGES, SERVED THROUGHOUT THE FUNCTION. DELEGATES CAN EXPECT EXCEPTIONAL SERVICE AND ATTENTION.
OBSERVE AND PARTICIPATE IN HIGHLY FOCUSED & ENGAGING PANEL DISCUSSIONS WITH YOUR PEERS WHO ARE HAND-PICKED INDUSTRY EXPERTS. HEAR FIRST HAND FROM SENIOR INDUSTRY PRACTITIONERS ABOUT THE CHALLENGES THAT THEY'RE FACING, PREPARING FOR UPCOMING REGULATIONS & BEST PRACTICES THAT ARE MARKET SPECIFIC
THE SOLUTION PRESENTATION
GET A FRONT ROW SEAT TO AWARD WINNING SOLUTIONS THAT ARE TRANSFORMING DEPARTMENTS AND THE OPPORTUNITY TO ASK KEY QUESTIONS DIRECTLY TO PRODUCT SPECIALISTS AND PRACTITIONERS WHO ARE ACTUALLY USING THE SOLUTION.
LIVE ANONYMOUS QUESTIONS DURING SESSIONS
TAKE THE OPPORTUNITY TO ASK QUESTIONS ANONYMOUSLY OR OPENLY USING OUR QUESTION APP. RAISE QUESTIONS, TAKE PART IN LIVE POLLS AND UPVOTE YOUR FAVOURITE QUESTIONS.
NETWORKING & BUSINESS CARD EXCHANGE
WHEN ALL IS SAID AND DONE, DELEGATES WILL HAVE THE OPPORTUNITY TO NETWORK, EXCHANGE BUSINESS CARDS AND ARRANGE FOLLOW UP MEETINGS.
Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights-driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.
Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking Solution, on average, enjoy 7.2% points lower costs-to-income ratio than others. To know more, visit www.finacle.com
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