Modernizing Banking Applications: Techwave’s Senior Director Fintech & Payments – Sundar Kasturirangan Shares Insights, in an interview with CIO News
Techwave’s Senior Director for Fintech & Payments, Mr. Sundar Kasturirangan, emphasized in an interview with CIO News that digital transformation in banking is not just about shifting from legacy systems to the digital world, but more importantly, understanding the core behavior, wants, and needs of digital customers. He discussed the advantages of cloud-native technology and its impact on banking application modernization, including its adaptability, scalability, and resilience to deliver services at the right speed, handle large volumes, ensure security, and future-proofing to support legacy technology. He also highlighted the success of fintech and challenger banks in providing cloud-based operations that customers enjoy, resulting in a projected growth of the global market for digital banking platforms from $8.2 billion in 2021 to $13.9 billion in 2026. Furthermore, Mr. Kasturirangan emphasized the need for banks to adopt digital practices and integrated processes to work smarter and leaner, focusing on high-value areas, and becoming client-centric and agile.
Read more on this story here: https://cionews.co.in/why-banks-must-embrace-a-platform-approach/
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