EMPOWERING DEVELOPERS
TECHNOLOGY TRANSFORMATION
48 need updating more often to accommodate changing business practices or customer requirements .
• Systems of innovation These are the customer facing apps and must be updated frequently . It ’ s here where banks are struggling to innovate , and where they are most at risk of losing out to competitors .
It ’ s clear that legacy structures will require legacy development practices , but when it comes to innovation , banks must look beyond their own systems and workforce to operate with greater agility .
EMPOWERING DEVELOPERS
To deliver the products and services demanded by their digital-first customers , and achieve digital transformation themselves , banks must empower their developers , as well as collaborating with more agile technology specialists to overcome their infrastructure challenges . Fintechs may form a significant part of the competition in many of the markets banks traditionally owned , but they should not be viewed solely as poachers . Fintechs are first and foremost technology specialists , operating and engaging with the latest software development tools and practices , and are eager to have their technologies leveraged by financial institutions .
Cloud-based open development platforms that focus on providing access to banks ’ core systems via open APIs are the most effective means of enabling this collaboration . These platforms offer a safe and secure environment in which agile third parties can build , test and run applications , without
JULY 2019