The banking landscape is transforming today like never before in history. Just 15 years ago, it was unimaginable for most people, even in the most developed countries around the world, what it would be like to conduct their regular financial transactions without visiting a bank branch. Nowadays, we see that number of branches was steadily shrinking in the last several years, and their number is projected to shrink even more in the future, according to Statista.
Customers become more and more used to the digital banking services, with over 50% of banking users in Europe actively using digital banking services to conduct their daily transactions, according to Statista. Digital banking services are no longer some pet-project that was piloted by only a few major banks, catering to the narrow segment of innovators. Today digital banks have gone mainstream and it is already a prerequisite for being even considered by the customer as a viable service provider in the banking space. But there is more to come …
FinTech market has been growing steadily for the last 10 years, and now it has reached a tipping point, where it starts to enter the mainstream market (according to Statista). Consumers realize that financial services provided by the FinTech’s are much easier to use and also better get along with their digital and constantly connected lifestyles. And this is where the fun starts, because for many banks, that have previously invested lump sums of money into building (now) legacy platforms, it is quite hard and quite costly to rebuild everything from scratch.
Furthermore, many banks don’t have the necessary technology competences that are needed to thrive in the next generation of digital banking – a generation of open banking and mobile consumer experience. Right now is better time than ever to outsource the technology part to the competent people, who can do it much faster, cheaper and better than you would have done it in-house. And we can help you with that!
Remote Banking is our white-label digital banking platform, designed to fit the needs of any modern bank. It includes all core features that any modern digital bank must have – payment orders execution, management of payment cards, currency exchange, multi-factor authentication, and other core features.
One of the main goals of Remote Banking is to provide already established banks with a powerful platform to improve the delivery aspect of their digital services, in order to be on a par with an increasing number of fintech companies with “digital first” mindset.
Remote Banking architecture is developed to fit in an existing infrastructure of a bank, so it can be launch in a very short period of time. Most importantly, it is built as a purely front-end system and does not perform any core banking functions, such as storing account balances or connecting to SWIFT, so it will not disrupt any of the existing core processes of your bank. With relative ease, you’ll be able to connect Remote Banking platform to your existing core banking system.
Another key differentiator of Remote Banking is that it offers completely customizable user interface, that can be designed according to your branding guidelines. We have experience both working with external 5-star design studios, as well as developing customized design with our own internal resources. With Remote Banking you can rest assured that your digital bank will be like no other on the market.
Remote Banking also includes all modern delivery channels, such as single-page web applications and mobile applications for iOS and Android, with user enjoying an omni-channel authentication and experience across all of those channels, while system administrators enjoy hassle free administration of all channels from one centralized location.
Of course, you could build your own digital banking solution. And how much time do you think it would take, considering the fact that you are experts in finance, not technology? Our experience shows, that on average it takes at least 12 months for a bank to develop comparable digital banking platform in-house (versus 5 months for integrating Remote Banking, from start to finish), and it is on average 2.5 times more expensive to support this platform afterwards with internal resources, compared to the support, offered with Remote Banking.
By attracting D8 as a technology expert in this field, you will generate valuable cost savings for your business, and ultimately will go live with this project faster.
If you’d like to know more about Remote Banking and how it could help you compete with FinTech companies more effectively, fill in the form below and you’ll be contacted by one of our representatives on short notice. If you’d like to learn more about the features of Remote Banking, just download product factsheet, available below.