Author: Pradeep Dhananjaya

According to one McKinsey Report, cash forecasting is cited among the most inefficient processes by small and large organizations alike. In turn, CFOs are seeking partners to help them navigate from reporting to predicting. Although corporate treasurers are challenged to achieve these efficiencies due to paper-based process (e.g., invoicing, wet signatures) and a lack of […]

Ransomware, a malicious software that is designed to disrupt, damage, and/or gain unauthorized access to a computer system and its data, has been on the rise. As per Sophos, 34% of financial services organizations that were surveyed indicated that they had been hit by ransomware in 2020. Moreover, 51% of those attacks succeeded in encrypting […]

Over the past year the industry has accelerated in an ecosystem approach to banking, and more broadly with financial services. Accenture estimates $416b in banking revenues is at stake as we shift to an open data economy. Although banks embarked on this journey with Open Banking as a catalyst, many have embraced the augmentation of […]

Customer habits have been changing over the last decade, with customers expecting frictionless and instant access to their banking needs. Banking customers have prioritized digital self-service via mobile and web over branch or phone banking, with the COVID-19 pandemic only accelerating this trend. Although digital channels are rising in importance, the ability to converge channels […]

Background on core banking systems Banks around the world rely on core banking systems as their system of record (SoR). A core banking system includes a ledger for all money movement transactions, organized into accounts with computed balances, along with the relevant business logic and workflows for each product. The transactions in the ledger are […]