Warren Sanders, Co-Founder and Director of digital banking specialist EWG, spoke to BL Magazine to help untangle the industry’s toughest issues and explore how fintech and digital transformation strategies are rapidly changing financial services for the better.
Firms in the financial services industry continue to grapple with disconnected legacy systems and manual processes, while meeting the increasing complexities of their business, regulators and clients.
Equally, inaccurate budgeting and forecasting, a lack of business insights and real-time information remain issues. Such challenges demonstrate that such platforms can no longer support agile businesses operating in today’s financial ecosystem.
Digital banking is now spearheading the industry’s development through technology, collaboration and integration. It is time for finance to be client and digital first. Fintech and regtech are playing a pivotal role in this fast-moving transformation. They offer numerous benefits by helping businesses work smarter and quicker, reduce errors and operate more efficiently by optimising resources and processes.
A key element is banking as a service, or BaaS, which deploys the latest technology via cloud-based dashboard interfaces and API (application programming interface). In BaaS, licensed banks integrate their digital banking services directly into the products of other non-bank businesses.
EWG is the go-to specialist digital banking partner for the fiduciary, corporate and fund services sectors, offering a cloudbased dashboard interface that enables third-party business software to communicate directly with EWG and share data securely in real time.
To read the full article, visit issuu.com