For several years, we have noted a shift in power from companies to customers. Customers call the shots; they can and do transfer their loyalty when they aren't catered to with engaging customer experiences. The age of the customer has reached the banking industry; as in other industries, banks must change the way they do business to move the customer center stage.
Thus, application development and delivery (AD&D) teams must work with their peers across the bank to develop and apply the technology, systems, and processes needed to win, serve, and retain customers, partnering with eBusiness executives leading digital banking initiatives to drive new digital innovations. And this is not just a minority movement: Forrester’s Financial Services Architecture Online Survey 2014 shows that close to 80 percent of financial services firms around the globe work on transforming their application landscape or plan to start doing so within the next two years.
To prepare for this transformation imperative, AD&D pros need to be aware of the key trends for banking applications; the emerging and accelerating architecture trends, products, and services; as well as their to-do lists for 2015, which you can learn more about in Peter Wannemacher's Predictions 2015 report. While some banks aren't yet ready to take full advantage of these trends, Forrester believes that AD&D teams must be aware of, learn from, and prepare for eight trends in 2015. Among them:
For some time there have been rumors about Deutsche Banking having selected TCS BaNCS for some or all of its international subsidiaries. Today, both Deutsche Bankand Tata Consultancy Services (TCS)published a press release announcing that Deutsche Bank will implement TCS BaNCS Core Banking as its new core banking platform for Global Transaction Banking (GTB). The first international subsidiary, which is located in Abu Dhabi, went live three days ago. I discussed the deal with N. Ganapathy Subramaniam (NGS), the president of TCS Financial Solutions.