Bank\/Insurance<\/h1><\/div>Leaders in Banking\/Insurance choose ARCAD as digital transformation partner<\/h2><\/div>Our Solutions<\/span><\/a><\/div><\/div><\/div>Customer Testimonial<\/span><\/a><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>Achieving \u2018digital transformation\u2019 in the banking sector is a delicate balance between tradition and innovation – combining the ongoing maintenance of proven legacy applications with new and visionary technology to meet the demands of users and application owners.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
Multiple changes are needed to integrate diverse fintech solutions, automate and optimize processes, as well as increase security of data. IT leaders must simultaneously foster innovation, upgrade existing systems and reskill their workforce. All this within a highly regulated industry with stringent audit and compliance requirements.<\/p>\n<\/div>
Why is IBM i so strategic in BFSI?<\/strong><\/h3><\/div>The banking, financial services and insurance sector (BFSI) has used the IBM i platform for decades.IBM i became rapidly popular in this sector since its launch because unlike Windows, Unix and Linux, IBM i architecture has built-in class C2 security, resiliency, availability, scalability and an overall lower cost of ownership (TCO) 1 . Over the years hundreds of applications and millions of lines of code have been developed specifically for BFSI and much of it is still running today.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
How do ARCAD solutions benefit BFSI?<\/strong><\/h3><\/div>ARCAD technology and expertise help simplify, automate and accelerate software development on IBM i. ARCAD tools go deep on the platform and provide robust solutions for mature DevOps, application analysis, modernization, data anonymization, multi-platform orchestration and more.
\nBeyond the IBM i, ARCAD technology for data anonymization is wholly DBMS-agnostic, offering a central point for piloting anonymization rules across multiple database technologies and platforms.<\/p>\n<\/div><\/div><\/div>
![\"picto-bouton-ibmi-modernization\"](\"https:\/\/www.arcadsoftware.com\/arcad\/wp-content\/uploads\/2021\/05\/picto-bouton-ibmi-modernization.png\" "\\"IBMi")
<\/span><\/div>IBM i Modernization<\/span><\/a><\/div><\/div><\/div>![\"picto-bouton-data-anonymization\"](\"https:\/\/www.arcadsoftware.com\/arcad\/wp-content\/uploads\/2021\/05\/picto-bouton-data-anonymization.png\" "\\"Data")
<\/span><\/div>Data Anonymization<\/span><\/a><\/div><\/div><\/div>![\"picto-bouton-devsecops\"](\"https:\/\/www.arcadsoftware.com\/arcad\/wp-content\/uploads\/2021\/05\/picto-bouton-devsecops.png\" "\\"Devsecops")
<\/span><\/div>DevSecOps<\/span><\/a><\/div><\/div><\/div><\/div><\/div><\/div>These capabilities can help you respond effectively to the following important BFSI challenges.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>
What are the key BFSI challenges in 2021 and beyond?<\/strong><\/h3><\/div><\/div><\/div>![\"legacy](\"https:\/\/www.arcadsoftware.com\/arcad\/wp-content\/uploads\/2021\/05\/picto-legacy.png\" "\\"Legacy")
<\/span><\/div><\/div><\/div>LEGACY APPLICATIONS<\/strong><\/h4><\/div>Many companies in the BFSI sector still use legacy applications<\/strong>. Without modernization and without mature DevOps adoption, legacy applications remain siloed and unable to keep up with an increasingly digital-first world.<\/p>\n\n- IBM i Modernization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div>
![\"security](\"https:\/\/www.arcadsoftware.com\/arcad\/wp-content\/uploads\/2021\/05\/Picto-security.png\" "\\"Security")
<\/span><\/div><\/div><\/div>SECURITY & DATA PRIVACY<\/strong><\/h4><\/div>Security<\/strong> and data privacy<\/strong> are key challenges for BFSI. This extends beyond physical security and password authenticators; it also involves making sure internal and external personnel are not exposed to sensitive data.<\/p>\n\n- Data Anonymization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div>
![\"competitive](\"https:\/\/www.arcadsoftware.com\/arcad\/wp-content\/uploads\/2021\/05\/picto-competitive-landscape.png\" "\\"Competitive")
<\/span><\/div><\/div><\/div>COMPETITIVE LANDSCAPE<\/strong><\/h4><\/div>The emergence of FinTech\/non-bank startups is changing the competitive landscape<\/strong> of the sector.
\nStartups do not have to contend with legacy infrastructure or cultural change so they are inherently nimble. They target the most lucrative revenue BFSI streams, using technology to compete with traditional financial methods.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div>
![\"cultural](\"https:\/\/www.arcadsoftware.com\/arcad\/wp-content\/uploads\/2021\/05\/picto-cultural-shift.png\" "\\"Cultural")
<\/span><\/div><\/div><\/div>CULTURAL SHIFT<\/strong><\/h4><\/div>There is an accelerating cultural shift<\/strong> towards internet based digital transformation<\/strong>. The once conservative attitudes of BFSI customers have changed. Most banking transactions are now done online with the most rapid transaction increases coming from mobile devices.<\/p>\n\n- IBM i Modernization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div>
![\"regulatory](\"https:\/\/www.arcadsoftware.com\/arcad\/wp-content\/uploads\/2021\/05\/picto-compliance_.png\" "\\"Compliance")
<\/span><\/div><\/div><\/div>REGULATORY COMPLIANCE<\/strong><\/h4><\/div>Since the 2008 financial crisis regulatory compliance<\/strong> has become one of the sector’s most significant industry challenges and caused a dramatic increase in regulatory fees relative to earnings.
\nCapital requirements, reserve requirements, corporate governance, financial reporting, disclosure requirements, credit rating requirements, large exposure\/activity\/affiliation restrictions. These are all areas now subject to local and global regulations.<\/p>\n\n- DevSecOps<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div>
![\"changing](\"https:\/\/www.arcadsoftware.com\/arcad\/wp-content\/uploads\/2021\/05\/picto-changing-business-modele.png\" "\\"Business")
<\/span><\/div><\/div><\/div>CHANGING BUSINESS MODELS & TECHNOLOGY<\/strong><\/h4><\/div>The cost of capital, compliance management and other factors are forcing changing business models<\/strong> in the BFSI sector. New competitive service offerings, rationalizing business lines and improvements in operational efficiencies are necessary to maintain profitability.<\/p>\n\n- IBM i Modernization<\/a>, DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div>
![\"rising](\"https:\/\/www.arcadsoftware.com\/arcad\/wp-content\/uploads\/2021\/05\/picto-rising-customer.png\" "\\"Rising")
<\/span><\/div><\/div><\/div>RISING CUSTOMER EXPECTATIONS<\/strong><\/h4><\/div>Changing demographics have caused rising customer expectations<\/strong> amongst the younger generations. While baby boomers and generation X still prefer human interaction and visits to a physical branch, starting with Millennials the preference is multi-channel banking through technology.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div>
![\"customer](\"https:\/\/www.arcadsoftware.com\/arcad\/wp-content\/uploads\/2021\/05\/picto-customer-retention.png\" "\\"Customer")
<\/span><\/div><\/div><\/div>CUSTOMER RETENTION<\/strong><\/h4><\/div>Customer loyalty is quickly becoming an endangered concept. Customer retention<\/strong> is often a matter of providing a superior on-line service. The mobile experience needs to be fast, easy to use, fully featured, secure and regularly updated. Outdated mobile experiences are a quick way to lose customers.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div>
![\"continuous](\"https:\/\/www.arcadsoftware.com\/arcad\/wp-content\/uploads\/2021\/05\/picto-continuous-innovation.png\" "\\"Continuous")
<\/span><\/div><\/div><\/div>CONTINUOUS INNOVATION<\/strong><\/h4><\/div>Continuous innovation<\/strong> remains a challenge. Companies in the BFSI sector must benchmark to survive and innovate thrive, it is no longer enough just to keep up.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div>
[1] IBM i\u2019s TCO Advantage Widens, According to Reports<\/p>\n<\/div><\/div><\/div><\/div><\/div>
\n\n
Leaders in Banking\/Insurance choose ARCAD as digital transformation partner<\/h2><\/div>Our Solutions<\/span><\/a><\/div><\/div><\/div>Customer Testimonial<\/span><\/a><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>Achieving \u2018digital transformation\u2019 in the banking sector is a delicate balance between tradition and innovation – combining the ongoing maintenance of proven legacy applications with new and visionary technology to meet the demands of users and application owners.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
Multiple changes are needed to integrate diverse fintech solutions, automate and optimize processes, as well as increase security of data. IT leaders must simultaneously foster innovation, upgrade existing systems and reskill their workforce. All this within a highly regulated industry with stringent audit and compliance requirements.<\/p>\n<\/div>
Why is IBM i so strategic in BFSI?<\/strong><\/h3><\/div>The banking, financial services and insurance sector (BFSI) has used the IBM i platform for decades.IBM i became rapidly popular in this sector since its launch because unlike Windows, Unix and Linux, IBM i architecture has built-in class C2 security, resiliency, availability, scalability and an overall lower cost of ownership (TCO) 1 . Over the years hundreds of applications and millions of lines of code have been developed specifically for BFSI and much of it is still running today.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
How do ARCAD solutions benefit BFSI?<\/strong><\/h3><\/div>ARCAD technology and expertise help simplify, automate and accelerate software development on IBM i. ARCAD tools go deep on the platform and provide robust solutions for mature DevOps, application analysis, modernization, data anonymization, multi-platform orchestration and more.
\nBeyond the IBM i, ARCAD technology for data anonymization is wholly DBMS-agnostic, offering a central point for piloting anonymization rules across multiple database technologies and platforms.<\/p>\n<\/div><\/div><\/div>
<\/span><\/div>IBM i Modernization<\/span><\/a><\/div><\/div><\/div><\/span><\/div>Data Anonymization<\/span><\/a><\/div><\/div><\/div><\/span><\/div>DevSecOps<\/span><\/a><\/div><\/div><\/div><\/div><\/div><\/div>These capabilities can help you respond effectively to the following important BFSI challenges.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>
What are the key BFSI challenges in 2021 and beyond?<\/strong><\/h3><\/div><\/div><\/div><\/span><\/div><\/div><\/div>LEGACY APPLICATIONS<\/strong><\/h4><\/div>Many companies in the BFSI sector still use legacy applications<\/strong>. Without modernization and without mature DevOps adoption, legacy applications remain siloed and unable to keep up with an increasingly digital-first world.<\/p>\n\n- IBM i Modernization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
SECURITY & DATA PRIVACY<\/strong><\/h4><\/div>Security<\/strong> and data privacy<\/strong> are key challenges for BFSI. This extends beyond physical security and password authenticators; it also involves making sure internal and external personnel are not exposed to sensitive data.<\/p>\n\n- Data Anonymization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
COMPETITIVE LANDSCAPE<\/strong><\/h4><\/div>The emergence of FinTech\/non-bank startups is changing the competitive landscape<\/strong> of the sector.
\nStartups do not have to contend with legacy infrastructure or cultural change so they are inherently nimble. They target the most lucrative revenue BFSI streams, using technology to compete with traditional financial methods.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CULTURAL SHIFT<\/strong><\/h4><\/div>There is an accelerating cultural shift<\/strong> towards internet based digital transformation<\/strong>. The once conservative attitudes of BFSI customers have changed. Most banking transactions are now done online with the most rapid transaction increases coming from mobile devices.<\/p>\n\n- IBM i Modernization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
REGULATORY COMPLIANCE<\/strong><\/h4><\/div>Since the 2008 financial crisis regulatory compliance<\/strong> has become one of the sector’s most significant industry challenges and caused a dramatic increase in regulatory fees relative to earnings.
\nCapital requirements, reserve requirements, corporate governance, financial reporting, disclosure requirements, credit rating requirements, large exposure\/activity\/affiliation restrictions. These are all areas now subject to local and global regulations.<\/p>\n\n- DevSecOps<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CHANGING BUSINESS MODELS & TECHNOLOGY<\/strong><\/h4><\/div>The cost of capital, compliance management and other factors are forcing changing business models<\/strong> in the BFSI sector. New competitive service offerings, rationalizing business lines and improvements in operational efficiencies are necessary to maintain profitability.<\/p>\n\n- IBM i Modernization<\/a>, DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
RISING CUSTOMER EXPECTATIONS<\/strong><\/h4><\/div>Changing demographics have caused rising customer expectations<\/strong> amongst the younger generations. While baby boomers and generation X still prefer human interaction and visits to a physical branch, starting with Millennials the preference is multi-channel banking through technology.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CUSTOMER RETENTION<\/strong><\/h4><\/div>Customer loyalty is quickly becoming an endangered concept. Customer retention<\/strong> is often a matter of providing a superior on-line service. The mobile experience needs to be fast, easy to use, fully featured, secure and regularly updated. Outdated mobile experiences are a quick way to lose customers.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CONTINUOUS INNOVATION<\/strong><\/h4><\/div>Continuous innovation<\/strong> remains a challenge. Companies in the BFSI sector must benchmark to survive and innovate thrive, it is no longer enough just to keep up.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div>
[1] IBM i\u2019s TCO Advantage Widens, According to Reports<\/p>\n<\/div><\/div><\/div><\/div><\/div>
\n\n
Achieving \u2018digital transformation\u2019 in the banking sector is a delicate balance between tradition and innovation – combining the ongoing maintenance of proven legacy applications with new and visionary technology to meet the demands of users and application owners.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
Multiple changes are needed to integrate diverse fintech solutions, automate and optimize processes, as well as increase security of data. IT leaders must simultaneously foster innovation, upgrade existing systems and reskill their workforce. All this within a highly regulated industry with stringent audit and compliance requirements.<\/p>\n<\/div>
Why is IBM i so strategic in BFSI?<\/strong><\/h3><\/div>The banking, financial services and insurance sector (BFSI) has used the IBM i platform for decades.IBM i became rapidly popular in this sector since its launch because unlike Windows, Unix and Linux, IBM i architecture has built-in class C2 security, resiliency, availability, scalability and an overall lower cost of ownership (TCO) 1 . Over the years hundreds of applications and millions of lines of code have been developed specifically for BFSI and much of it is still running today.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
How do ARCAD solutions benefit BFSI?<\/strong><\/h3><\/div>ARCAD technology and expertise help simplify, automate and accelerate software development on IBM i. ARCAD tools go deep on the platform and provide robust solutions for mature DevOps, application analysis, modernization, data anonymization, multi-platform orchestration and more.
\nBeyond the IBM i, ARCAD technology for data anonymization is wholly DBMS-agnostic, offering a central point for piloting anonymization rules across multiple database technologies and platforms.<\/p>\n<\/div><\/div><\/div>
<\/span><\/div>IBM i Modernization<\/span><\/a><\/div><\/div><\/div><\/span><\/div>Data Anonymization<\/span><\/a><\/div><\/div><\/div><\/span><\/div>DevSecOps<\/span><\/a><\/div><\/div><\/div><\/div><\/div><\/div>These capabilities can help you respond effectively to the following important BFSI challenges.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>
What are the key BFSI challenges in 2021 and beyond?<\/strong><\/h3><\/div><\/div><\/div><\/span><\/div><\/div><\/div>LEGACY APPLICATIONS<\/strong><\/h4><\/div>Many companies in the BFSI sector still use legacy applications<\/strong>. Without modernization and without mature DevOps adoption, legacy applications remain siloed and unable to keep up with an increasingly digital-first world.<\/p>\n\n- IBM i Modernization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
SECURITY & DATA PRIVACY<\/strong><\/h4><\/div>Security<\/strong> and data privacy<\/strong> are key challenges for BFSI. This extends beyond physical security and password authenticators; it also involves making sure internal and external personnel are not exposed to sensitive data.<\/p>\n\n- Data Anonymization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
COMPETITIVE LANDSCAPE<\/strong><\/h4><\/div>The emergence of FinTech\/non-bank startups is changing the competitive landscape<\/strong> of the sector.
\nStartups do not have to contend with legacy infrastructure or cultural change so they are inherently nimble. They target the most lucrative revenue BFSI streams, using technology to compete with traditional financial methods.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CULTURAL SHIFT<\/strong><\/h4><\/div>There is an accelerating cultural shift<\/strong> towards internet based digital transformation<\/strong>. The once conservative attitudes of BFSI customers have changed. Most banking transactions are now done online with the most rapid transaction increases coming from mobile devices.<\/p>\n\n- IBM i Modernization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
REGULATORY COMPLIANCE<\/strong><\/h4><\/div>Since the 2008 financial crisis regulatory compliance<\/strong> has become one of the sector’s most significant industry challenges and caused a dramatic increase in regulatory fees relative to earnings.
\nCapital requirements, reserve requirements, corporate governance, financial reporting, disclosure requirements, credit rating requirements, large exposure\/activity\/affiliation restrictions. These are all areas now subject to local and global regulations.<\/p>\n\n- DevSecOps<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CHANGING BUSINESS MODELS & TECHNOLOGY<\/strong><\/h4><\/div>The cost of capital, compliance management and other factors are forcing changing business models<\/strong> in the BFSI sector. New competitive service offerings, rationalizing business lines and improvements in operational efficiencies are necessary to maintain profitability.<\/p>\n\n- IBM i Modernization<\/a>, DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
RISING CUSTOMER EXPECTATIONS<\/strong><\/h4><\/div>Changing demographics have caused rising customer expectations<\/strong> amongst the younger generations. While baby boomers and generation X still prefer human interaction and visits to a physical branch, starting with Millennials the preference is multi-channel banking through technology.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CUSTOMER RETENTION<\/strong><\/h4><\/div>Customer loyalty is quickly becoming an endangered concept. Customer retention<\/strong> is often a matter of providing a superior on-line service. The mobile experience needs to be fast, easy to use, fully featured, secure and regularly updated. Outdated mobile experiences are a quick way to lose customers.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CONTINUOUS INNOVATION<\/strong><\/h4><\/div>Continuous innovation<\/strong> remains a challenge. Companies in the BFSI sector must benchmark to survive and innovate thrive, it is no longer enough just to keep up.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div>
[1] IBM i\u2019s TCO Advantage Widens, According to Reports<\/p>\n<\/div><\/div><\/div><\/div><\/div>
\n\n
The banking, financial services and insurance sector (BFSI) has used the IBM i platform for decades.IBM i became rapidly popular in this sector since its launch because unlike Windows, Unix and Linux, IBM i architecture has built-in class C2 security, resiliency, availability, scalability and an overall lower cost of ownership (TCO) 1 . Over the years hundreds of applications and millions of lines of code have been developed specifically for BFSI and much of it is still running today.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
How do ARCAD solutions benefit BFSI?<\/strong><\/h3><\/div>ARCAD technology and expertise help simplify, automate and accelerate software development on IBM i. ARCAD tools go deep on the platform and provide robust solutions for mature DevOps, application analysis, modernization, data anonymization, multi-platform orchestration and more.
\nBeyond the IBM i, ARCAD technology for data anonymization is wholly DBMS-agnostic, offering a central point for piloting anonymization rules across multiple database technologies and platforms.<\/p>\n<\/div><\/div><\/div>
<\/span><\/div>IBM i Modernization<\/span><\/a><\/div><\/div><\/div><\/span><\/div>Data Anonymization<\/span><\/a><\/div><\/div><\/div><\/span><\/div>DevSecOps<\/span><\/a><\/div><\/div><\/div><\/div><\/div><\/div>These capabilities can help you respond effectively to the following important BFSI challenges.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>
What are the key BFSI challenges in 2021 and beyond?<\/strong><\/h3><\/div><\/div><\/div><\/span><\/div><\/div><\/div>LEGACY APPLICATIONS<\/strong><\/h4><\/div>Many companies in the BFSI sector still use legacy applications<\/strong>. Without modernization and without mature DevOps adoption, legacy applications remain siloed and unable to keep up with an increasingly digital-first world.<\/p>\n\n- IBM i Modernization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
SECURITY & DATA PRIVACY<\/strong><\/h4><\/div>Security<\/strong> and data privacy<\/strong> are key challenges for BFSI. This extends beyond physical security and password authenticators; it also involves making sure internal and external personnel are not exposed to sensitive data.<\/p>\n\n- Data Anonymization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
COMPETITIVE LANDSCAPE<\/strong><\/h4><\/div>The emergence of FinTech\/non-bank startups is changing the competitive landscape<\/strong> of the sector.
\nStartups do not have to contend with legacy infrastructure or cultural change so they are inherently nimble. They target the most lucrative revenue BFSI streams, using technology to compete with traditional financial methods.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CULTURAL SHIFT<\/strong><\/h4><\/div>There is an accelerating cultural shift<\/strong> towards internet based digital transformation<\/strong>. The once conservative attitudes of BFSI customers have changed. Most banking transactions are now done online with the most rapid transaction increases coming from mobile devices.<\/p>\n\n- IBM i Modernization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
REGULATORY COMPLIANCE<\/strong><\/h4><\/div>Since the 2008 financial crisis regulatory compliance<\/strong> has become one of the sector’s most significant industry challenges and caused a dramatic increase in regulatory fees relative to earnings.
\nCapital requirements, reserve requirements, corporate governance, financial reporting, disclosure requirements, credit rating requirements, large exposure\/activity\/affiliation restrictions. These are all areas now subject to local and global regulations.<\/p>\n\n- DevSecOps<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CHANGING BUSINESS MODELS & TECHNOLOGY<\/strong><\/h4><\/div>The cost of capital, compliance management and other factors are forcing changing business models<\/strong> in the BFSI sector. New competitive service offerings, rationalizing business lines and improvements in operational efficiencies are necessary to maintain profitability.<\/p>\n\n- IBM i Modernization<\/a>, DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
RISING CUSTOMER EXPECTATIONS<\/strong><\/h4><\/div>Changing demographics have caused rising customer expectations<\/strong> amongst the younger generations. While baby boomers and generation X still prefer human interaction and visits to a physical branch, starting with Millennials the preference is multi-channel banking through technology.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CUSTOMER RETENTION<\/strong><\/h4><\/div>Customer loyalty is quickly becoming an endangered concept. Customer retention<\/strong> is often a matter of providing a superior on-line service. The mobile experience needs to be fast, easy to use, fully featured, secure and regularly updated. Outdated mobile experiences are a quick way to lose customers.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CONTINUOUS INNOVATION<\/strong><\/h4><\/div>Continuous innovation<\/strong> remains a challenge. Companies in the BFSI sector must benchmark to survive and innovate thrive, it is no longer enough just to keep up.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div>
[1] IBM i\u2019s TCO Advantage Widens, According to Reports<\/p>\n<\/div><\/div><\/div><\/div><\/div>
\n\n
ARCAD technology and expertise help simplify, automate and accelerate software development on IBM i. ARCAD tools go deep on the platform and provide robust solutions for mature DevOps, application analysis, modernization, data anonymization, multi-platform orchestration and more.
\nBeyond the IBM i, ARCAD technology for data anonymization is wholly DBMS-agnostic, offering a central point for piloting anonymization rules across multiple database technologies and platforms.<\/p>\n<\/div><\/div><\/div>
<\/span><\/div><\/span><\/div><\/span><\/div>These capabilities can help you respond effectively to the following important BFSI challenges.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>
What are the key BFSI challenges in 2021 and beyond?<\/strong><\/h3><\/div><\/div><\/div><\/span><\/div><\/div><\/div>LEGACY APPLICATIONS<\/strong><\/h4><\/div>Many companies in the BFSI sector still use legacy applications<\/strong>. Without modernization and without mature DevOps adoption, legacy applications remain siloed and unable to keep up with an increasingly digital-first world.<\/p>\n\n- IBM i Modernization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
SECURITY & DATA PRIVACY<\/strong><\/h4><\/div>Security<\/strong> and data privacy<\/strong> are key challenges for BFSI. This extends beyond physical security and password authenticators; it also involves making sure internal and external personnel are not exposed to sensitive data.<\/p>\n\n- Data Anonymization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
COMPETITIVE LANDSCAPE<\/strong><\/h4><\/div>The emergence of FinTech\/non-bank startups is changing the competitive landscape<\/strong> of the sector.
\nStartups do not have to contend with legacy infrastructure or cultural change so they are inherently nimble. They target the most lucrative revenue BFSI streams, using technology to compete with traditional financial methods.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CULTURAL SHIFT<\/strong><\/h4><\/div>There is an accelerating cultural shift<\/strong> towards internet based digital transformation<\/strong>. The once conservative attitudes of BFSI customers have changed. Most banking transactions are now done online with the most rapid transaction increases coming from mobile devices.<\/p>\n\n- IBM i Modernization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
REGULATORY COMPLIANCE<\/strong><\/h4><\/div>Since the 2008 financial crisis regulatory compliance<\/strong> has become one of the sector’s most significant industry challenges and caused a dramatic increase in regulatory fees relative to earnings.
\nCapital requirements, reserve requirements, corporate governance, financial reporting, disclosure requirements, credit rating requirements, large exposure\/activity\/affiliation restrictions. These are all areas now subject to local and global regulations.<\/p>\n\n- DevSecOps<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CHANGING BUSINESS MODELS & TECHNOLOGY<\/strong><\/h4><\/div>The cost of capital, compliance management and other factors are forcing changing business models<\/strong> in the BFSI sector. New competitive service offerings, rationalizing business lines and improvements in operational efficiencies are necessary to maintain profitability.<\/p>\n\n- IBM i Modernization<\/a>, DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
RISING CUSTOMER EXPECTATIONS<\/strong><\/h4><\/div>Changing demographics have caused rising customer expectations<\/strong> amongst the younger generations. While baby boomers and generation X still prefer human interaction and visits to a physical branch, starting with Millennials the preference is multi-channel banking through technology.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CUSTOMER RETENTION<\/strong><\/h4><\/div>Customer loyalty is quickly becoming an endangered concept. Customer retention<\/strong> is often a matter of providing a superior on-line service. The mobile experience needs to be fast, easy to use, fully featured, secure and regularly updated. Outdated mobile experiences are a quick way to lose customers.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CONTINUOUS INNOVATION<\/strong><\/h4><\/div>Continuous innovation<\/strong> remains a challenge. Companies in the BFSI sector must benchmark to survive and innovate thrive, it is no longer enough just to keep up.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div>
[1] IBM i\u2019s TCO Advantage Widens, According to Reports<\/p>\n<\/div><\/div><\/div><\/div><\/div>
\n\n
<\/span><\/div><\/div><\/div>LEGACY APPLICATIONS<\/strong><\/h4><\/div>Many companies in the BFSI sector still use legacy applications<\/strong>. Without modernization and without mature DevOps adoption, legacy applications remain siloed and unable to keep up with an increasingly digital-first world.<\/p>\n\n- IBM i Modernization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
SECURITY & DATA PRIVACY<\/strong><\/h4><\/div>Security<\/strong> and data privacy<\/strong> are key challenges for BFSI. This extends beyond physical security and password authenticators; it also involves making sure internal and external personnel are not exposed to sensitive data.<\/p>\n\n- Data Anonymization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
COMPETITIVE LANDSCAPE<\/strong><\/h4><\/div>The emergence of FinTech\/non-bank startups is changing the competitive landscape<\/strong> of the sector.
\nStartups do not have to contend with legacy infrastructure or cultural change so they are inherently nimble. They target the most lucrative revenue BFSI streams, using technology to compete with traditional financial methods.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CULTURAL SHIFT<\/strong><\/h4><\/div>There is an accelerating cultural shift<\/strong> towards internet based digital transformation<\/strong>. The once conservative attitudes of BFSI customers have changed. Most banking transactions are now done online with the most rapid transaction increases coming from mobile devices.<\/p>\n\n- IBM i Modernization<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
REGULATORY COMPLIANCE<\/strong><\/h4><\/div>Since the 2008 financial crisis regulatory compliance<\/strong> has become one of the sector’s most significant industry challenges and caused a dramatic increase in regulatory fees relative to earnings.
\nCapital requirements, reserve requirements, corporate governance, financial reporting, disclosure requirements, credit rating requirements, large exposure\/activity\/affiliation restrictions. These are all areas now subject to local and global regulations.<\/p>\n\n- DevSecOps<\/strong><\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CHANGING BUSINESS MODELS & TECHNOLOGY<\/strong><\/h4><\/div>The cost of capital, compliance management and other factors are forcing changing business models<\/strong> in the BFSI sector. New competitive service offerings, rationalizing business lines and improvements in operational efficiencies are necessary to maintain profitability.<\/p>\n\n- IBM i Modernization<\/a>, DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
RISING CUSTOMER EXPECTATIONS<\/strong><\/h4><\/div>Changing demographics have caused rising customer expectations<\/strong> amongst the younger generations. While baby boomers and generation X still prefer human interaction and visits to a physical branch, starting with Millennials the preference is multi-channel banking through technology.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CUSTOMER RETENTION<\/strong><\/h4><\/div>Customer loyalty is quickly becoming an endangered concept. Customer retention<\/strong> is often a matter of providing a superior on-line service. The mobile experience needs to be fast, easy to use, fully featured, secure and regularly updated. Outdated mobile experiences are a quick way to lose customers.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/span><\/div><\/div><\/div>
CONTINUOUS INNOVATION<\/strong><\/h4><\/div>Continuous innovation<\/strong> remains a challenge. Companies in the BFSI sector must benchmark to survive and innovate thrive, it is no longer enough just to keep up.<\/p>\n\n- IBM i Modernization,<\/a> DevSecOps<\/a><\/strong><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div>
[1] IBM i\u2019s TCO Advantage Widens, According to Reports<\/p>\n<\/div><\/div><\/div><\/div><\/div>
\n\n
Many companies in the BFSI sector still use legacy applications<\/strong>. Without modernization and without mature DevOps adoption, legacy applications remain siloed and unable to keep up with an increasingly digital-first world.<\/p>\n Security<\/strong> and data privacy<\/strong> are key challenges for BFSI. This extends beyond physical security and password authenticators; it also involves making sure internal and external personnel are not exposed to sensitive data.<\/p>\n The emergence of FinTech\/non-bank startups is changing the competitive landscape<\/strong> of the sector. There is an accelerating cultural shift<\/strong> towards internet based digital transformation<\/strong>. The once conservative attitudes of BFSI customers have changed. Most banking transactions are now done online with the most rapid transaction increases coming from mobile devices.<\/p>\n Since the 2008 financial crisis regulatory compliance<\/strong> has become one of the sector’s most significant industry challenges and caused a dramatic increase in regulatory fees relative to earnings. The cost of capital, compliance management and other factors are forcing changing business models<\/strong> in the BFSI sector. New competitive service offerings, rationalizing business lines and improvements in operational efficiencies are necessary to maintain profitability.<\/p>\n Changing demographics have caused rising customer expectations<\/strong> amongst the younger generations. While baby boomers and generation X still prefer human interaction and visits to a physical branch, starting with Millennials the preference is multi-channel banking through technology.<\/p>\n Customer loyalty is quickly becoming an endangered concept. Customer retention<\/strong> is often a matter of providing a superior on-line service. The mobile experience needs to be fast, easy to use, fully featured, secure and regularly updated. Outdated mobile experiences are a quick way to lose customers.<\/p>\n Continuous innovation<\/strong> remains a challenge. Companies in the BFSI sector must benchmark to survive and innovate thrive, it is no longer enough just to keep up.<\/p>\n [1] IBM i\u2019s TCO Advantage Widens, According to Reports<\/p>\n<\/div><\/div><\/div><\/div><\/div>\n
<\/span><\/div><\/div><\/div>SECURITY & DATA PRIVACY<\/strong><\/h4><\/div>
\n
<\/span><\/div><\/div><\/div>COMPETITIVE LANDSCAPE<\/strong><\/h4><\/div>
\nStartups do not have to contend with legacy infrastructure or cultural change so they are inherently nimble. They target the most lucrative revenue BFSI streams, using technology to compete with traditional financial methods.<\/p>\n\n
<\/span><\/div><\/div><\/div>CULTURAL SHIFT<\/strong><\/h4><\/div>
\n
<\/span><\/div><\/div><\/div>REGULATORY COMPLIANCE<\/strong><\/h4><\/div>
\nCapital requirements, reserve requirements, corporate governance, financial reporting, disclosure requirements, credit rating requirements, large exposure\/activity\/affiliation restrictions. These are all areas now subject to local and global regulations.<\/p>\n\n
<\/span><\/div><\/div><\/div>CHANGING BUSINESS MODELS & TECHNOLOGY<\/strong><\/h4><\/div>
\n
<\/span><\/div><\/div><\/div>RISING CUSTOMER EXPECTATIONS<\/strong><\/h4><\/div>
\n
<\/span><\/div><\/div><\/div>CUSTOMER RETENTION<\/strong><\/h4><\/div>
\n
<\/span><\/div><\/div><\/div>CONTINUOUS INNOVATION<\/strong><\/h4><\/div>
\n