NTT is securing and transforming banking for the future
Open banking-led modernization efforts have been driving financial companies to stay relevant, but in many ways banks are struggling to keep pace with the demands being made of them. You need to grow to meet evolving customer demands, optimize by enhancing operational efficiency and defend by orchestrating an ever-expanding ecosystem.
Tired, old legacy systems, and the money required to keep them operational is stinting banks’ evolution. Modern core product systems can reduce costs and complexity, and allow you to digitize customer journeys, creating exceptional customer experiences. And by implementing open architectures to reduce complexity and expenditure, flexibility will increase and the process of introducing new products and services to the market will be accelerated.
2X the number of banks in APAC report they are investing in enhancing their products using AI compared to US banks. RPA (Robotic Process Automation) and AI is the biggest area of investment in APAC whereas the US and Europe are most likely to invest in Open Banking.
NTT DATA: Corporate Banking Outlook 2022
Banks have long been challenged to prove they are dealing with a reputable counterparty (KYC – Know Your Customer) and show they are assisting global efforts against money laundering (AML - anti-money laundering) – but the challenge is to do so in a frictionless way that causes the least disruption. There are four key ways to ensure the process runs smoothly:
Keep customers informed: Transparency of processes and decisions, regular cadence of updates
Embed innovation: Use technologies such as Robotic Process Automation to automate processes
Rationalize portals: Use single sign-on across products to improve the customer experience
End to end digitization of processes: Reduce friction associated with manual interactions
New ways of working mean you need to equip your employees to deliver more, while providing them with better experiences – all while striving to become more sustainable. As you look to evolve, and accelerate your digital transformation, you need a partner to help you with your transformation.
“Tech firms are using their platforms to reverse-engineer banking. Enthusiasm for payment platforms has accelerated during the Covid-19 pandemic, which forced shoppers online. PayPal has almost doubled in market value over the past year to more than $310bn, making it the world’s most valuable payment platform.”
The Economist, 2022
With our ability to deliver agile, continual and limitless transformation, we allow you to be more connected, innovative and resilient. As a partner we combine change and innovation, allowing them to move from locked-down IT to open, flexible and secure platforms. With a combination of platform-derived infrastructure, network, data, applications, managed services, and business solutions – layered with compliance and regulatory experience – whatever the new capabilities you want to develop, we can work with you as your unified partner to bring them into reality.
Effective management of hybrid and multicloud environments will be an important success factor in enterprise transformation initiatives. Organizations that implement effective strategies for hybrid and multicloud (whether by working with external advisory and managed services providers or by developing the necessary expertise in-house) will over time be able to shift their attention past achieving base cloud KPIs such as cost and performance, and toward high-impact organizational objectives like innovation, larger-scale operational efficiency, and customer experience. (NTT’s Research - Voice of the Enterprise: Cloud, Hosting & Managed Services, Budgets & Outlook 2022 survey)
What makes us stand apart from the competition?
Leading risk management skills.
Our knowledge and expertise puts us ahead of the competition in helping banks manage risk, compliance and complex governance.
Offering flexible contracts that recognize the ability to change.
We realize customer engagement, supply chains, delivery and product roadmaps are in a constant state of flux, so require flexible solutions.
Resilient network and data centers allowing banks to be more operationally robust.
We’re a reliable partner for data management, business processes and product delivery. We also own our network so we can promise the highest security integrity.
An agile adaptive and proven portfolio that creates unique solutions.
Our offering is standardized, tested and recognized, and is 100% adaptable to meet the changing needs of any business.
Recognized by Gartner for high performance.
Gartner named us as a leader in the 2022 Magic Quadrant for Network Services, Global.
A collaborative approach and powerful ecosystem that solves complex requirements.
We have specialist data and security teams, so work as a sole unit to deliver the correct outcomes as your banking partner.