In April 2021, Intellias, a technology partner for FinTech and global financial services providers, released a whitepaper titled “Preparing for the new growth cycle: a technical blueprint for banks.”
The whitepaper describes key market drivers: consumers, technology, regulations, and the COVID-19 pandemic. Additionally, it provides an outlook on the shape of the recovery the retail banking sector will likely experience in 2021 to 2025.
“Banking systems in the US, the UK, France, Germany, Spain, Italy, Japan, and Australia may not recover to pre-pandemic levels until 2023. But tempered growth prospects are not a viable excuse for avoiding action.”
In “Preparing for the new growth cycle,” Intellias examines how decisive and digitally inclined banking leaders of today will be able to gain growth momentum in the short-term perspective and what types of strategic initiatives will stand behind those gains. In particular, the whitepaper discusses why legacy banking systems are not necessarily a technical burden but rather a foundation on which to make. It also demystifies “digital transformations” — an industry buzzword hiding the profound technical improvements banking leaders should pursue to stay competitive. Finally, it talks about the importance of DevOps, SecOps, and data management as the cornerstone processes powering modern digital banks.
“Preparing for the new growth cycle: a technical blueprint for banks” highlights:
- The three main stressors that add competitive pressure to the retail banking industry
- Four types of strategic actions banking leaders should prioritize for short-term gains
- Approaches to tackle technical debt and modernize legacy software
- How to move from branch dominance to digital distribution excellence
The whitepaper delivers a working framework for assessing technical maturity, right-sizing technology to specific business priorities, and proceeding with paced, ROI-driven execution. Banking leaders can use it to shape a better business case for new technology investment. Download your free copy to prepare your operations for the next stage in banking.