Nordea & VirtusaPolaris FinTech Lab to help FinTechs during Stockholm Startup Weekend

Nordea and VirtusaPolaris FinTech Lab to help FinTechs converting ideas into prototypes during Stockholm Startup Weekend Nordea is the Signature sponsor at the Stockholm Startup Weekend for FinTechs January 27-29 and we are proud to announce that Nordea has engaged VirtusaPolaris Fintech Lab to be prime Innovation partner during the event. We will together utilize 

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Core competency: A savvy map for transforming core banking solutions

For any bank, core banking systems (CBS) lie at the heart of operations: They play an instrumental role in processing transactions, updating balances, running batch jobs and interacting with interfaces. But with the advent of disruptive technologies, along with fickle customer preferences and overall regulatory changes, banks now tend to treat CBS as less important. 

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Making way for smart contracts

Blockchain and smart contracts in financial organizations are shifting from curious experiments to pragmatic pilot projects. A few software products, including Ethereum, Digital Assets, Hyperledger, Multichain, Chain, and R3CEV, seem to have garnered larger interest in the banking space. While these are generic, there are more business-specific blockchain-smart contract vendors such as Itbit, Bankchain, Wave, 

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The Unfolding Future of Bank Branches

‘Trust’ and ‘Transparency’ have always been the cornerstones of stakeholder expectations in the banking industry. Since 2008, there has been a constant deficit on both fronts, resulting in heavy regulatory penalties, right sizing of banks and several other long-term implications on the economy. Since then, banks have taken up the responsibility of rebuilding customer trust 

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Four trends set to disrupt banking

Until the last financial crises took place, banks were pillars of greatness. They offered the best paying jobs, blue-chip stocks to invest, and occupied landmark buildings in major cities. At the same time though, they also represented poor customer service, high inefficiency and cost of operations, and legacy technology running core systems. Fast forward a 

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Smart contracts: Too blurry to be true?

The herding mentality in finance is a recurring theme. We have seen it take place both during the dot-com boom and the mortgage crisis. Recently, it is fintech startups and the solutions that they develop which have attracted interest. Smart Contracts (SC) are a recent example of a solution that’s beginning to turn heads. One 

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The case of experimental environment for driving innovations in banking and financial services industry

There is a paradigm shift happening in the banking and financial services (BFS) space. Day in and day out we are reading stories about new technologies, new business models that are reinventing the way banking is done. These rapid changes are largely inflicted by a strong FinTech ecosystem comprising of start-ups and new-age, much agile 

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Robotics process automation, the present and the future of banking Industry – Part III

Get your organization ready to embrace the next big thing across your enterprise Embracing Automation  The primary objective of automation is to eliminate routine no-brainer tasks and improve employee productivity. Enterprises will also continue to embrace automation technologies to improve corporate financial performance while simultaneously accelerating business growth. As digitization and automation conquer the world, 

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Why do banks and retails care about UX and digital?

Digitalization, user experience (UX) and cloud computing are some of the major trends that have seen an increasing and widespread adoption in the financial services, banks and retail industry lately. While digital only retail have been around for a long time, digital-only banks have also emerged in the last few years such as ATOM, UK’s 

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Digital wallets not yet ready for prime time

We read a lot about digital wallets these days – particularly in the wake of 2014’s Apple Pay announcement. All this excitement inevitably raises the question: when will digital wallets replace leather wallets? In other words, when will old fashioned cash and traditional credit cards become passé? To answer that question, we need to consider 

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The future of biometrics in payments

The global explosion of mobile payments is driving the need for a more secure authentication system – an alternative to traditional authentication techniques is cloud based mobile biometrics. Biometrics related to payments is ultimately about ways to enhance authentication. Indeed, the Biometrics Research Group, Inc. expects that worldwide mobile payment transactions will reach $250 billion in 2014, 

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Robotics process automation, the present and the future of banking Industry – Part II

A sneak peek into the 3 levels of your back office automation implementation Among a host of other enterprise functions, the impact of RPA is likely to be higher in back-office processing and routine IT operations, primarily due to the predictive nature of such repetitive tasks performed by human workforce and the ease of implementation 

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Utilizing the internet of things in banking

While the banking industry has so far been a laggard in utilizing the Internet of Things, changes are afoot driven by the need for productivity improvement, innovation and growth. The Internet of Things (IoT) continues to be a hot topic, not only in the technology industry but also in traditional core industries. It would drive 

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A quick recipe to data protection in the digital age

In this digital age, data security is a crucial aspect of any business and is increasingly becoming challenging with the humongous amount of customer shared data that are available across various channels. Also, with regulations from governments becoming increasingly stringent, the task of securing data has become all the more laborious and critical. Organizations dealing with 

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The mystical blockchain – The bitcoin technology

While Bitcoin technology has been hitting the headlines over the last few years, Blockchain is the essence that underpins it. But what is Blockchain? It’s essentially a ledger which logs transactions between two parties. Yet while most ledgers are kept in banks or accounting departments, Blockchain is a distributed ledger in which copies are kept 

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Top 4 reasons banks should be excited about blockchain

Blockchain (the technology that powers Bitcoin) is a magic box – a mix of innovations and the smart use of available solutions make it revolutionary. It’s not often that a technology paradigm has so many great ideas packaged into a small capsule. There is little wonder why all the top banks and investors are backing 

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Inclusive solutions for enterprise risk and compliance

Over the last several years, bank governance, risk and compliance (GRC) programs worldwide have been placed under increased scrutiny by regulators, elected officials and the public. The myriad of new regulations and requirements, primarily driven by the Basel III framework and regulations such as Dodd-Frank, have increased the complexity and costs to maintain regulatory compliance. 

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