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September 15, 2022
The importance of resilience in digital financial services 
CREALOGIX Blog - The importance of resilience in digital financial services
Digital Banking
Software as a Service
Thomas Roth
Chief Technology Officer

Digital banking capabilities and wealth management systems to facilitate the client-advisor interaction have become an important part of a service provision for financial organisations. Banking customers, businesses and investors all expect a convenient 24/7 digital service, and the challenge is how to remain innovative and competitive in the face of constant change while ensuring operational stability, performance and consistency.  

Supporting demand spikes

SaaS solutions in the cloud have the benefit of being flexible when it comes to demand spikes. In current turbulent times, there may be an increase in demand for any number of reasons, from a news headline on interest rates and inflation to the rise and fall of certain markets. There may also be recurring spikes, e.g. busier times of the month for end-of-month calculations, invoice or salary payments. In case of on-premises solutions, the options are either to build in sufficient amounts of redundancy to account for an increase in demand – a costly option – or to accept that they are unable to meet demand at certain points – compromising on service availability. The latter is not an option for banks looking for consistent or improved customer experience and satisfaction. 

Iterative development to keep pace with customer expectations 

Managing demand in a cloud setup is just one aspect that SaaS solutions can deliver. Implementing SaaS with a trusted provider also means that the solution – and this is the service that you are delivering to customers – is constantly improving. This is important for your offering to remain relevant in a dynamic market. At CREALOGIX, we live the banking industry. From regulatory changes to new services and innovations in functionalities, we are always looking at ways to improve and update our solution. Our goal of continuous improvement is one that benefits our customers because our customer-facing digital banking solutions keep changing to meet the market needs. Updates are managed centrally and deliver new functionalities on a regular basis. We do so in close partnership with our customers to ensure that improvements are always client relevant. 

SaaS is an innovation layer in digital financial services 

One of the most interesting challenges in financial services is the need to deliver constant innovation in a complex environment with significant security and regulatory requirements. At CREALOGIX, we deliver customer-facing technology that links back-office and core banking capabilities to front-end ambitions, untethering innovation and change speed at the front from the pace in the back. This is a core pre-requisite for established financial organisations to compete with fintech contenders. It also ensures that new products and services can be added to digital distribution channels with the minimum disruption to customer services. Customers receive the very best digital service with a positive UX without adding further to the complexity. Our focus on customer-facing technology means that you can deliver the very best and latest innovation in digital financial services with proven SaaS solutions. 

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