CHANGING THE CORE BANKING SYSTEM THE AGONY OF CHOICE

whitePaper | November 26, 2019

Financial services is the nervous system of our economy; a critical system that needs to operate efficiently and equitably for our society to function. The legacy 20th century business models in finance have become increasingly obsolete and most have not adapted to the fundamental paradigm shift—technological, institutional and societal—ushered in by our continuing transition from an Industrial Age to an emerging Information Age.

whitePaper | November 30, 2022

Financial markets—like our societies—are undergoing a digital transformation. We are seeing the emergence of new and innovative financial products or other types of assets; new types of trading venues and innovative technologies for financial market infrastructures, as well as new forms of financial intermediation or even dis-intermediation.

whitePaper | October 6, 2020

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whitePaper | May 24, 2022

Trends in customer demand, technology, and regulation drive the development of an open financial ecosystem in which the consensual sharing of customer data among financial institutions (FIs) and businesses creates new value for consumers and business users. This Aite-Novarica Group report analyzes this trend and the evolution from open banking to open finance and to a truly open economy. The report is based on interviews with executives from banks and fintech firms in Europe and North America.

whitePaper | April 14, 2022

Digital transformation in the financial space has been a hot topic in emerging markets like South Africa, Nigeria & Ghana for some time now, especially among incumbents who are threatened by radical digital-first banking entities like neobanks and challenger banks. A global study by Insider Intelligence1 estimated that in 2021, there were 29.8 million digital-only account holders, and this number is expected to cross 53.7 million by 2025, owing to the remarkable mobile penetration and ICT infrastructure development2 witnessed in marginalized regions like Africa in recent years.

whitePaper | October 11, 2022

Over the past 30 years, authentication for digital banking services has evolved, from basic user ID plus passwords to various multi-factor authentication methods using hardware tokens, SMS OTP, dedicated authenticator apps and embedding authenticators in mobile banking apps. The goal has always been to achieve the best balance between security and user experience. But despite all the progress, one thing remains unchanged: everyone continues to depend on passwords, no matter how much end users and financial institutions dislike them. Until now