Preparing for tech-first future in financial services | White Paper | Nagarro

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A Nagarro PoV on business agility, API management, and execution approach.

Author

Sandeep Gupta

Delivery Lead - Banking

Bernd Schulze

API Management practice lead

Rishi Garg

Senior Staff Consultant

About the white paper

Incumbent financial players like banks and insurance (BFSI) companies aspire to be agile enough to adopt digital transformation across the board, equip themselves to face the tightening regulations, and become an API-enabled banking and insurance businesses of the future. But are they up for the challenge of fintech innovation?

Though the players understand that the competition is threatening their profitability and growth, they aren't entirely prepared. This white paper elaborates on four ideas that we believe the incumbents need to implement to stay relevant and competitive:

IT as the new “powerhouse”
for digital transformation and innovation
Modern agile
to renew and adapt quickly to market changes, and to react flexibly to customer needs through rapid experimentation
API-fication
as a strategic enabler to interact with the ecosystem and to run IT operations
Unleashing banking innovation
with technology & data, behavioral change and relentless execution

Author

Sandeep Gupta

Delivery Lead - Banking

tags

Insurance , Agile transition , Api management , Optimize , Innovate , Banking and financial services

Bernd Schulze

API Management practice lead

Rishi Garg

Senior Staff Consultant