HFS Research’s Post

We are thrilled to be recognised by HFS Research for our exceptional work in the Core Banking Modernization value chain at Innova Solutions. Our achievements have been highlighted in three critical areas: Value Proposition: “Innova provides consultative and platform-led solutions involving microservices, APIs, cloud-native, customer, experience, data science, and security to create digital opportunities.” Growth Proof Points: “Innova brings its digital engineering, data, and cloud expertise to build various core modernization playbooks that break down the mechanics of the banking cores and offer the ideal target state. Target platforms for data, analytics, cloud; tooling for security, testing, and governance; strong fintech partnership and putting Gen AI into productions for QA all support core modernization needs. Key Differentiators: “The company’s IT talent heritage helps secure access to talent plus its minority-owned private company status creates opportunities for the firm. Innova Solutions delivers the “how” of core banking modernization by ensuring collaboration with partners, enterprises, and fintech for value delivery.” A huge thank you to our dedicated team and valued partners for their continuous support and collaboration. Together, we are ‘Disrupting’ and shaping the future of banking! #Innova #CoreBanking #Modernization #HFSResearch #Innovation #Fintech #BankingTransformation #Disruptor

The core banking technology market is evolving, yet only 33% of banks have partially achieved their digital transformation goals. There are 3 main reasons for this: 🧩 Fragmented core systems: Many banks rely on a mix of in-house and third-party solutions, making integration difficult. ⏱️ Lack of real-time capabilities: Legacy systems still operate on batch processes, limiting the banks ability to offer real-time services. 🔄 Migration risks: The fear of downtime or data loss during migration keeps banks from moving forward. We’ve just released our latest report ‘Core Banking without Compromise’ where we surveyed over 200 IT decision makers in Tier I and Tier II banks. If you want to read more insights like this from senior banking and financial service technology decision-makers you can get yourself a free copy here: https://lnkd.in/efKf2UWd #digitalbanking #corebanking #bankinginnovation #bankingtransformation

Excited to share the publication of our latest article in the Banking Frontiers magazine, focusing on the transformative concept of 'Hollow the Core'. Hollowing the core is imperative for banks to reduce complexity, improve agility, and seamlessly integrate modern technologies into their existing systems. The first of this 2-series article unravels the intricate evolution of banking systems. From paper-based transactions and Core Banking Systems (CBS) to the revolutionary impact of digital transactions, the financial landscape has been shaped by pivotal milestones. These modernization efforts come along with underlying challenges that banks face in maintaining their core banking systems. From legacy system constraints to operational and scalability issues, the risks with traditional banking infrastructure are palpable. Watch this space for the upcoming segment where we delve into how our payment solutions serve as the cornerstone for banks to effectively implement hollow the core practices. Through Montran’s unified payment solution, banks can overcome legacy constraints, drive operational efficiency, and spearhead the transformation towards an adaptive and scalable banking infrastructure. Read the complete article below. https://lnkd.in/dxKeJ2CP #Montran #bankingevolution #corebankingsystem #digitalization #innovation #modernization #hollowthecore

🚀🌟 Exploring Core Banking Transformation - Part 1 🌟🚀 Core Banking Transformation represents a pivotal journey undertaken by leading banks to modernize their business operations amidst the relentless waves of digital disruption. Key objectives include meeting regulatory requirements, enhancing day-to-day operations, accelerating time-to-market for new products, embracing technological advancements, and, significantly, enhancing the overall customer journey to ensure end-user satisfaction. This transformational endeavour hinges on two fundamental components: unwavering commitment and time. The duration of these transformations typically spans between 1 to 5 years, owing to the intricate nature of various banking systems and the extent to which they seek to overhaul and upgrade their core banking platforms. The complexity of this timeline is often dictated by factors such as post-merger integration, where disparate technologies need harmonization, or the migration from outdated legacy systems incapable of meeting the digital demands of contemporary platforms. Traditionally, such digital metamorphoses are spearheaded by the Information Technology (IT) Department, with IT playing a central role in driving this business transformation forward. Stay tuned for more insights into the realm of Core Banking Transformation.... #BankingInnovation #DigitalTransformation #FintechEvolution Follow 👉 Gregory Weir & Repost 🔂 with your network 😊 Push 🔔 for notification

Core Transformation: Selecting the Right Partner For banks embarking on core transformation, selecting the right solution and partner is a pivotal decision. It requires balancing modern technology, functional depth, long-term partner viability, local compliance, and references, among other key criteria. The latest Forrester Wave™: Digital Banking Processing Platforms Report provides vital guidance, evaluating 12 leading core providers on the criteria that matter most. I am proud to share that Finacle has once again emerged as a leader in this assessment. This recognition reflects the trust and success of our clients, partners, and employees, who continue to passionately inspire better banking around the world. Access the full Forrester report here. https://lnkd.in/gGiNhHJx

Beyond the high price associated with operation and maintenance, legacy banking cores incur an arguably more significant cost: limiting banks’ ability to effectively provide digital financial services. Learn why a phased approach to #corebanking modernization with a "core sidecar" is a more strategic approach than a drastic rip-and-replace or insufficient patchwork fixes: https://bit.ly/43AO0dJ

✋ Banking modernization trends 2024: A snapshot. https://bit.ly/3YESVdj In the race to modernize, speed reigns supreme. Our 2024 Big Survey with @Finextra, reveals: 1️⃣ Speed is non-negotiable: For payments and product launches, yesterday is too late. 2️⃣ Partnerships are pivotal: 92% of banks are embracing payments-as-a-service models. 3️⃣ Agility gap emerges: Smaller banks outpace larger counterparts in innovation and flexibility. 4️⃣ Compliance crunch: Despite approaching deadlines, banks remain hesitant to allocate significant budgets for regulatory alignment. 5️⃣ ISO 20022 looms large: As migration deadlines near, readiness levels vary widely. How will these trends shape the future of banking? Download our comprehensive report to gain deeper insights and stay ahead of the curve. https://bit.ly/3YESVdj

Modernization is key to remaining competitive in today's market. Download our comprehensive report to gain deeper insights into banking modernization trends in 2024. #payments

Join PwC for a webinar on banking modernization. Discover how technological advancements are revolutionizing industry and learn from top experts on navigating the complex modernization journey. Use the link below to register.   https://lnkd.in/gQCVrJPg #PwC #BankTech #BankModernization

Join PwC for a webinar on banking modernization. Discover how technological advancements are revolutionizing industry and learn from top experts on navigating the complex modernization journey. Use the link below to register. https://lnkd.in/e6z3J-kt