In "Now Tech: Banking Clouds, Q1 2022", analyst firm Forrester’s overview of banking cloud providers highlights the benefit for banks of working with fintech partners is that it can "quickly enhance … digital banking capabilities [and] support new business and operating models and accelerate your firm’s journey into the cloud." In a challenging and rapidly evolving post-Covid banking landscape, this agility is vital for banks looking to support customers and address the threat of digital challengers. As the report notes, industry-focused financial services clouds and X-as-a-service capabilities "promise simple scalability, innovation sourcing, legacy circumnavigation, and ecosystem engagements."
The benefits of fintech partnerships
The benefits of fintech providers are considered in both a tactical sense, such as improving both the customer and employee experience, and also as a means of accelerating a broader digital transformation strategy. Thomas Roth, CTO at CREALOGIX noted,
"We were delighted to see how, in our opinion, the CREALOGIX strategy to expand our SaaS delivery aligns closely with the Forrester view of the market. We also believe that our current roadmap aligns with the direction of the industry towards greater innovation through partnership."
Embracing the banking ecosystem
The report highlights that "The future of banking – for banks and non-banks alike – will build on dynamic business and application ecosystems."
This focus on ecosystems is also a central principle driving the success and development of CREALOGIX Digital Hub, which is built to integrate third party services and solutions as well as open banking functionality. The end result is a broader range of services for customers within a single user interface, delivering a seamless experience that is facilitated by cloud banking.
Digital Hub is an innovative scalable cloud banking solution
CREALOGIX Digital Hub is an evolution towards next-generation digital banking – its modular framework enables financial firms to select and deploy segment-specific digital solutions to meet customers’ needs within a secure, scalable and cost-efficient model.
Michael Radic, Executive Vice President Customer Implementation Services at CREALOGIX added;
"This report is essential reading for the whole industry because of the growing demand and deployment of cloud banking solutions. At CREALOGIX, banks are responding positively to our innovative SaaS solution Digital Hub and we’re already migrating many of our software customers onto the cloud. We were we delighted to see CREALOGIX recognised in this report, and we believe it reflects our global presence with customers in the Middle East and APAC regions as well as across Europe."
The "Now Tech: Banking Clouds, Q1 2022" report is available to Forrester subscribers or for purchase.