Final Tech Report HD - Flipbook - Page 13
Personalisation of services
As Financial Service’s embrace digital transformation,
enterprises in every industry are challenged with legacy backend systems which can be extremely costly, time consuming
and complex to modify. This can be a major obstacle to a
traditional enterprise, as digital challengers have made slick
and frictionless digital interfaces the norm.
While some organisations are undertaking a full replacement
of their legacy technology, many in the financial services
industry are creating new and compelling user experiences
using Application Programme Interfaces (APIs). The
widespread adoption of APIs enables businesses to connect
disparate sets of data and technology platforms to create
powerful customer experiences and products, systems and
operations that were not previously possible.
The application of APIs and indeed of external API sharing in
financial services presents an exciting opportunity for firms
operating in Ireland. Across Europe we can see many
retail banks transforming their business by exposing their
legacy systems with API and micro services. Supported by
process automation, businesses can ensure rapid product
innovation and ease of deployment through these exciting
new technologies.
On-demand services
Financial services firms need to keep up with the rate of
change of their competitors and many are collaborating with
cloud partners to stay ahead. The flexibility, ease of access and
agility of cloud technology enables faster provisioning of
infrastructure and rapid software delivery - significantly
reducing the cost of running legacy systems.
By collaborating with solutions in a scalable, cloud hosted
environment, technology partners will continue to enable
financial services companies to develop new products which
remove friction for their customers. The on-demand model
that many cloud providers offer also ensures that enterprises in
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