The need for accelerating digital transformation
Customers want digitally enhanced offerings fast. Since banks traditionally take up to two years to release digital services, it creates an endless cycle of customer dissatisfaction that there's no escaping from!
But what if time was on your side?
Virtusa's Open Innovation Platform (OIP) connects banks and financial services firms with third-party FinTechs to accelerate digital transformation. Using our Platform, you can improve your competitive edge and keep up with customer expectations by reducing the time to test by up to 90% and time-to-market by up to 60%.
Virtusa strongly believes that banks should collaborate with FinTechs to enhance their product offerings and build strong foundational technical components that can be quickly extended, modified, and adapted to the changing business landscape.
For a successful implementation, you will need to:
Our cloud-native platform is a proven, secure marketplace that enables collaboration with third-party FinTechs, BigTechs, and TechFins, and allows banks to ideate, test, design, and build solutions that complement their product offerings. It's powered by a bootstrapping framework that leverages over 10 million customer data sets, a digital product workbench, and a pre-built library of domain APIs.
You can find the emerging tools and technologies you need to enable hyper-automation, improve process efficiency, generate cost savings, and create a personalized customer experience.
Virtusa’s OIP provides an integrated view of the product lifecycle from ideation to production. It drives significant value across the innovation lifecycle providing compelling returns on your innovation investment by:
Virtusa’s OIP removes the friction points that exist in current product development processes. Financial institutions can reimagine their customer experience and innovate and accelerate their digital journey with the help of a digital twin environment on the cloud. OIP provides organizations with the ability to rapidly test and adopt emerging technologies, build a transformation ecosystem, and rapidly deploy solutions into the production environment.
With the exponential growth of FinTechs and tech giants and the rise of digital-only customers and the increasing need for Open Banking, banks and financial institutions are challenged to innovate and transform digitally.
Speak to an expert.