Technology moves very fast and is part of our daily lives, without us actually noticing that we are so dependent on all kinds of technologies, which should be also kept updated or replaced by newer versions.
Financial industry has been for decades challenged to have the most recent technology to stay competitive in their customer services. We can ask if there is a risk of financial institutions becoming so focused on the technology that their actual business and customer service contents and quality are suffering??
But also the financial technology sector is facing a similar challenge. Can the technology development companies become so focused on the technology itself that the broader picture of the business needs of their customers could be forgotten?
Any software solution used in the financial industry should always be just a tool to maintain and further develop the customer services. The financial industry companies’ search for new technologies should be based only on their business needs, not just because there is a new technology available.
Relational is a different technology company and software vendor. When signing a contract with us, the financial institution gets a partner, with whom to develop the solution to meet their business needs. Our platform and solution are managed by business rules. They allow our customers to make fast functionality and risk assessment changes by themselves. This is a major benefit in the current volatile financial markets.
For this very important topic, this link takes you to an excellent article by Alex Reddish, MD of Tribe Payments, published in Sibos 2021 news.
The Belgian niche bank CKV has selected AroTRON Debt Management platform to manage their loans portfolio and automate their debt collection, recovery and restructuring processes, in order to make its application landscape complete and future proof. The Company CKV is an unlisted, independent, stable, Belgian niche bank that has been active throughout Belgium since 1956 […]
Have you heard about the NPL tsunami? Different players in the NPL market have expressed their worries about rapidly worsening bank asset quality and an ensuing ‘NPL tsunami’ from the COVID pandemic. Those challenges have not materialised so far and one reason for keeping them on hold is clearly the policy mix that governments have […]
On 24 November 2021, the European Parliament approved the final version of Directive 2021/2167 which addresses high levels of non-performing loans held by banks in the European Union (the NPL Directive). The Directive has been under discussion since 2018. The accelerated legislative process to approve the Directive last November could have been triggered by the […]