The digital banking revolution happening today is accelerating rapidly. The new approach emphasises software and its capabilities, and demand for digital capabilities is soaring.
For example, a recent Recruiter Sentiment Survey on LinkedIn broke the news that 51% of UK financial services recruiters have experienced increased demand for applicants with experience in artificial intelligence, cryptocurrency, and blockchain. And the percentage of new hires into the finance world from software and IT service backgrounds stands at 18%.
In the new digital banking landscape, speed is of the essence. Yet onboarding new staff takes time and effort. The truth is that even if banks had the time to sift through and onboard hundreds of candidates, it is simply not possible to hire enough people in just a few weeks. With huge innovation pressure from FinTechs, banks are looking for ways to accelerate their response.
Yesterday’s outsourcing model is not enough; detailed procurement contracts that take months or even years to negotiate are ineffective. To innovate today requires true partners who work within the business, who can help engineer solutions that deliver value at speed, and who can scale resource numbers to meet the immediate needs. This means working with partners that can provide digital engineers at just a few weeks’ notice.
Working with fully integrated digital engineering teams can offer significant boosts to productivity. Removing administration overheads can lead to massive benefits in efficiency – a team of committed experts can be made 50 to 70 percent more productive by simply streamlining their processes.
Here at Virtusa, we are developing new techniques to industrialize the digital revolution, making it possible to transform IT productivity and massively accelerate innovation delivery.
For more details, see our Whitepaper.