BANKING TRENDS and Where Coromandel Infotech is moving...
Much of the growth in top-tier banking over the past few years has been fueled by mergers and acquisitions, bringing about significant challenges for IT organizations as they work to integrate product and channel silos from newly merged companies.
This merger activity, along with years of new product development and distribution channel add-ons, has contributed to the evolution of a complex IT environment with multiple, disparate technology platforms. Platform consolidation and conversion project have been considered high risk operations since business continuity and data integrity are critical mandates for the financial services institution.
Yet today's robust integration technologies have made these initiatives quick, safe and effective. By tying all channels into a single integration layer and delivering services through high performance middleware, banks have been able to integrate their channels without the risks typically associated with complex integration projects.
In the process, banks are finding they can achieve a 360-degree view of their customers and their operations, allowing for educated business decisions and mass customization of customer product offerings. The customer experience is greatly enriched, banking IT operations are more efficient and cost effective, and the result is a stronger, more competitive organization.