Change to spare: How technology meets evolving anti-money laundering requirements

The past 10 years have seen an increase in the number and breadth of regulations aimed at the financial services industry, many of which stem from the financial crisis of 2007-’08. For example, requirements for capital adequacy, and restrictions on proprietary trading, have profoundly affected the covered institution. Yet beyond rules spawned the financial crisis, 

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Core Banking – A Reality Check Against Blockchain

On the advent of blockchain technology, core banking solutions within banks are going to face major challenges. The quintessential dimensions of core banking solutions such as defining and replicating products, processing transactions, and GL mapping and accounting are in danger of becoming obsolete due to the arrival of blockchain technology. It may take a lot 

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Whose Payments Platform is it Really?

I have been following the battle closely between Australian banks and ApplePay for quite some time. What’s really interesting to see is this battle actually has implications well beyond Australia. I still remember when ApplePay was first announced. US retailers banded together under MCX (Merchant Customer Exchange) to build their own payments solution CurrentC. CurrentC 

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Preparing for the Digital Workforce Revolution: How Digital Natives are driving the way we work for CSP’s

According to the Bureau of Labor Statistics, Millennials became the largest group in the workforce in 2015. We discussed in our first blog how the Digital Native or Millennial generation is influencing market expectations and their influence is growing exponentially in the workplace as well. Digital Natives will represent nearly 75% of the workforce by 

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Serve the Customer, Serve Yourself – How CSP’s Can Achieve a Better Customer Experience?

Consider for a moment the most recent experience as a customer, whether it was picking up a cup of coffee on the way in to work, buying an airplane ticket online or connecting with a customer call center for support. Research demonstrates that consumers remember how a customer experience makes them feel, regardless of the 

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Change: The Constant CIOs Can Count On

We are the digital generation. Digital natives are a growing influence and here to stay. They are driving change and innovation at a pace unseen in generations past. They seek information via a single click or tap and demands frictionless engagement across all channels. Organizations must respond to this push by engaging this group whenever 

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Mobile wallets can end the ‘fragmentation’ of modern financial services

As Christmas approaches, online shoppers will once again be doing what online shoppers do best, though increasingly they will be doing it via their smartphones, which can be fiddly. Merchants that have accepted the overheads of PCI-DSS and the ever-increasing risk of hacking have been able to provide a low friction payment process by storing 

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How’s Big Data looking for 2017?

Get ready for more real-time data, non-relational or unstructured data along with need for self-service tools, data governance and data quality The year 2016 was an important one in the world of big data. What used to be hype became the norm as more businesses realized that data and the related infrastructure, in all forms 

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A Year Of Digital Disruptions

Digital transformations shaped 2016. Enterprises centered their focus on business needs, capabilities and availability related to digital transformation. Major challenge was to maintain legacy IT services with limited budgets, while also increasing digital transformation within the business. IT leadership took note of the situation on time and we saw implementation of cross-functional partnerships, investments in 

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Nordea & VirtusaPolaris FinTech Lab to help FinTechs during Stockholm Startup Weekend

Nordea and VirtusaPolaris FinTech Lab to help FinTechs converting ideas into prototypes during Stockholm Startup Weekend Nordea is the Signature sponsor at the Stockholm Startup Weekend for FinTechs January 27-29 and we are proud to announce that Nordea has engaged VirtusaPolaris Fintech Lab to be prime Innovation partner during the event. We will together utilize 

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Core competency: A savvy map for transforming core banking solutions

For any bank, core banking systems (CBS) lie at the heart of operations: They play an instrumental role in processing transactions, updating balances, running batch jobs and interacting with interfaces. But with the advent of disruptive technologies, along with fickle customer preferences and overall regulatory changes, banks now tend to treat CBS as less important. 

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4 must-dos for a banking aggregator to accelerate NPP compliance

Plato, the famous Greek philosopher once remarked, “To suffer the penalty of too much haste, which is too little speed”. The quote seems perfect for this harp on real-time payments. Real-time payments are a reality. Consumers today instantly pay Uber rides or split a restaurant bill with buddies through e-wallets. Financial institutions need to gear 

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