David Chaos’ Post

Core Banking platforms have been the riskiest to migrate for the CIOs. Santander Digital Services celebrates a momentous occasion by migrating their #Altair #LegacyCoreBanking platform to the Cloud as part of the Gravity Project. This is a milestone accomplishment and an indicator of the times to come ahead.... More banks will now trust #microfocus #EnterpriseServer platform to migrate their legacy core applications out of the mainframe to the Cloud. #Cloud4Mainframe #CoreBankingModernisation

Santander has announced the migration of it's corporate and investment customers onto it's new Gravity platform.... The news article is in need of some heavy interpretation. Fortunately, I'm on hand to to translate... What the article said.. "Gravity’s unique selling point is that it’s able to facilitate parallel processing, a key factor in running workloads simultaneously on both a mainframe and the cloud and for migrating services between the two with little opportunity for service disruption." What I heard.. We've been utterly trapped by horrendous vendor lock-in on an aging mainframe, and this is a big step forward in 'hollowing out' this antiquated technology, abstracting logic and value into our new cloud estate and reducing this hardware to an irrelevant blinking light in a room. Santander COO and CTO Dirk Marzluf said.. “The Santander CIB migration to the cloud is a new milestone in the group’s transformation towards a simpler, more integrated model, contributing to enhanced profitability.” What I heard.. Since we're no longer going to be spending truckloads of cash to maintain so much PowerPC hardware, I am confident I will get my Christmas bonus. I'm now one of 4 people that have successfully modernized a mainframe core - yay for me, time for some mince pies. #fintech #banking

🏆 On September 1, 2023, Santander proudly clinched the esteemed title of the Most Innovative Bank in the World from The Banker. This accolade is a resounding testament to our unwavering commitment to pioneering advancements in the digital landscape. At the forefront of this success is the triumphant deployment of Gravity, our state-of-the-art, in-house digital cloud-native core banking platform, resonating globally. Embracing the journey to revolutionize the landscape, Santander Brasil is leading CBDC innovation and reshaping the financial future with heightened payment efficiency, soaring financial inclusion, and security levels reaching unprecedented pinnacles. Get ready for the innovation and challenges that lie ahead! Santander Brasil is at the forefront of sculpting a CBDC that delves into high-level technical requirements. As the Most Innovative Bank globally, we're not just embracing change; we're actively steering it. 💼 Prepare for Financial Innovation: Global Insights Await! 💡 Calling all financial innovators! Brace yourself for a series of contents unveiling insights from global experiences. We'll showcase projects, prototypes, and initiatives worldwide. We are not just leading; we are sharing the knowledge that drives progress. 💡 Join us on the Voyage into the Future of Finance! 💡 #CBDC #DREX #FinancialInclusion #FutureFinance #SantanderInnovates 🚀

It's July and FedNow, the U.S. regulated instant payments service, is upon us. Over the last several months, we’ve seen a clear divide between early adopters and those that are waiting to see how the real-time payments system will unfold before taking the leap. In his new article for American Banker, my colleague and GFT Technologies Head of Innovation Solutions Americas Carlos Kazuo Missao, explores the question: Is it too late for banks to get on board with FedNow? While they don’t need to worry…yet...Carlos dives into the reasons why they should get started soon if they do plan to participate. ▶ https://lnkd.in/eMcqXBWm #FedNow #payments #openbanking

Is it too late for banks to start preparing for FedNow? While hundreds of U.S. banks have been piloting the real-time payments system for months, thousands are waiting to see how the service unfolds before taking the leap. In his new article for American Banker, GFT’s Head of Innovation Solutions Americas Carlos Kazuo Missao discusses why banks’ ability to compete in the instant payments market is not entirely dependent on how long they’ve been preparing. But it is critical that they get started on their journeys. https://okt.to/P2wctu #fednow #InstantPayment #pix

Continuing my scan of interesting articles out there I saw one related to the recent expansion of Santander's IT workforce in ComputerWeekly.com https://lnkd.in/eGVGJqDM. This expansion is a testament to the importance Santander place on digital and speaks to the transformative power of digital innovation in the banking sector. With an impressive 4,500 IT professionals added in 2023 alone, Santander's commitment to a cloud-first strategy is clear. This move not only underscores the bank's agility but also its foresight in harnessing the cloud's potential to revolutionise banking services. From the outside looking in at what Santander is doing, it's evident that the cloud is no longer a mere storage solution but a strategic asset that enables real-time analytics, faster time to market, and significant cost savings. The Gravity platform's ability to migrate legacy systems with zero downtime is a remarkable feat, and probably needs further investigation. If it works as stated then Gravity is showcasing the seamless integration of new technologies into existing infrastructures which is brilliant for planning out sensible migration strategies from legacy systems. For startups and SMEs in the #PropTech and wider #tech sectors, Santander's strategy offers valuable lessons. The emphasis on expertise in areas like cyber security, AI, and DevSecOps is a reminder of the critical skills needed to drive digital transformation and sometimes ones overlooked by smaller companies. Moreover, the bank's approach to standardising operations and creating a unified customer view through its Partenon platform is a blueprint for achieving operational excellence and customer satisfaction. We are seeing some of this strategy play out in software suppliers in the #socialhousing technology space. At Elehan Consulting, we recognise the importance of aligning product, marketing, and sales functions to maximise growth, much like Santander's alignment of IT initiatives with its business goals. The bank's digital journey is a powerful example for our clients in the UK social housing sector, demonstrating how strategic investment in technology can lead to sustainable growth and a competitive edge. Looking to other sectors and learning from their successes, understanding how we can transpose them into our operations is key to driving #innovation and continuing a journey to excellence in social housing technology and service delivery. As we continue to advise and support our clients, Santander's story reinforces the value of a well-executed digital strategy (Something I bang on a lot to clients). It's an exciting time for technology-driven transformation, and we're here to guide businesses through their own digital evolution. #DigitalTransformation #CloudComputing #BankingInnovation #PropTech #GrowthStrategy #Consulting #Growth #Advisory

We're making big moves 🚀 At Santander, we are undergoing one of the biggest transformations in our history, evolving towards a Digital Bank with a human touch! 🏆 Santander has been named the Most Innovative Bank in the world by The Banker Magazine: "The magazine has chosen Santander thanks to the bank’s home-grown digital cloud-native core banking platform, Gravity... The Gravity technology is unique in the industry and has helped Santander become the first major bank in the world with in-house software that digitalizes core banking – allowing the bank to serve customer better and more efficiently" Gravity is one of the key elements of our One Transformation journey. We aim to continue transforming our business and build a Digital Bank with Branches - Bring Santander’s 164 million customers onto a common operating model powered by a cutting-edge technology platform, and enable our in-branch teams to dedicate more time supporting customers and on commercial activities. 🌟 Big congratulations to our Technology teams for this huge achievement!! https://lnkd.in/egPXim7F #BeTechWithSantander

Ericsson has been recognized as the number one digital wallet platform vendor by Juniper Research in their latest Digital Wallets report. 🥇 Want to know more about what Ericsson Wallet Platform is??? Read my article which I wrote during the Covid period from the link below. https://lnkd.in/e5meR7sv What's truly astounding is that it supports over 400 million registered mobile wallets and processes 2.8 billion transactions worth over $40 billion every month. Today, every fifth mobile money transaction globally flows through the Ericsson Wallet Platform. It's not just an impressive milestone, it's a sign that we at Ericsson MFS are doing something exceptionally well. 👏 #TeamEricsson #DigitalTransformation #Sustainability #DigitalTransformation #mfs #fintech #digitalpayments

A compelling research report from IBM, Red Hat and BIAN. Embedded finance offers numerous benefits to banks, foremost among them being the capacity to unlock substantial value and access fresh revenue streams. By seamlessly integrating financial services into non-traditional platforms such as e-commerce, ride-sharing apps, or even healthcare providers, banks can expand their reach and customer base. This innovative approach empowers banks to increase customer loyalty, diversify income sources, remain competitive in a rapidly evolving financial landscape, and solidify their position as indispensable partners in the digital economy. #bankinginnovation #bankingindustry #embeddedfinance #ibm #redhat #BIAN

🌐 Advancing Financial Inclusion: Insights from Mastercard and Nubank 💳🤝 The World Bank's Global Findex Database reveals significant growth in global account access, yet full utilization of financial tools remains a challenge. To address this gap, Mastercard and Nubank conducted an extensive study, analyzing the needs and behaviors of millions of consumers to inform strategies for closing the divide between access and financial security. 📊 Key Findings: Fast Uptake with Support: Financial education and behavioral design interventions prompt rapid adoption of financial tools, with 60% of Nubank customers transitioning from access to usage within 24 months. Trust through Habitual Use: Consistent and responsible usage of payment instruments builds trust and familiarity, driving increased inclusion and usage. Expanding Acceptance: Widening acceptance solutions and engaging micro-business owners in the digital economy fosters trust and accelerates usage. Starting Small: Initiating financial journeys with debit/prepaid cards paves the way for accessing credit, with 80% of users starting with prepaid cards progressing to accessing loan products. Credit Access as a Predictor: Access to credit and responsible usage early in the financial journey positively correlates with progression towards financial health. 🚀 Actionable Opportunities: Enhance entry-level solutions and educational tools to build trust and promote responsible use. Expand merchant payment acceptance, especially among small businesses, to encourage frequent use and shift from cash. Design innovative solutions tailored to consumers' needs to foster healthy financial habits and planning. 🌍 Global Applicability: While the study focuses on Brazil, its methodology and insights hold relevance for countries worldwide. By combining transaction data analysis with consumer feedback, it provides a comprehensive framework for advancing financial inclusion globally. 💼 Partnership for Impact: Mastercard and Nubank share a commitment to driving financial inclusion. The study underscores the potential for inclusive digital solutions to triple consumer transaction volumes and accelerate journeys to sustainable financial health, benefiting individuals and economies alike. This collaborative effort represents a significant step towards realizing the vision of widespread financial inclusion and prosperity. 📈💰 #FinancialInclusion #Fintech #DigitalPayments #Mastercard #Nubank