Digital Transformation in Banking

Enhance the customer experience and reduce cost-to-income ratios with innovative digital banking and insurance services

Today’s consumers expect their banks to guide them on a personalized journey to achieving their financial goals. This means you need to anticipate what the customer needs in particular life moments — whether it’s heading off to college, buying a home or preparing for retirement — and proactively propose tailored banking and insurance services at the right time, through the right physical and/or virtual channels. 

Axway can help.

Our digital banking and insurance solution can help you unleash data to improve operational efficiency, expose APIs to accelerate innovation while integrating new business ecosystems, and develop apps to reimagine the customer experience and drive more business. 

How does the solution work?

Axway’s digital banking and insurance solution gives you a bimodal approach to digital enablement. It starts by getting ready for digital, where your IT department is empowered to build a secure and agile integration foundation. Then it focuses on turning your IT and business leaders into digital business innovators by enabling a digital ecosystem that supports change, encourages engagement and promotes innovation. 

Combine Existing Banking and Insurance Services to Create Innovative Offerings

In the new banking landscape, traditional banking and insurance services need to be available, but not in the same old ways. You can use Axway’s solution to build digital banking “mash ups” that combine existing services to create something completely new. By leveraging internal services and partner offerings that are already in place, you can quickly introduce apps that deliver precisely what your customers want and need at any given moment.

Our digital insurance and banking solution ensures you can do this right by:

  • Federating identity across management systems and enforcing corporate and regulatory compliance policies
  • Orchestrating how apps and services are accessed and delivered, with minimal investment in designing and enforcing policies

Create the Seamless Omni-channel Experience Your Customers Expect

Consumers expect real-time engagement that delights and satisfies them while offering consistent levels of service across all of their physical and virtual interactions. Our digital insurance and banking solution ensures that data and services for consumers, partners and field forces are available, consistent and secure everywhere – mobile, online, call centers, ATMs and branches. 

Leverage Partner Ecosystems Using Secure APIs

Digital business opens up new opportunities to aggregate services, create more distribution channels and share information (e.g. PSD2/XS2A) with partners. By migrating to API-centric partner integration, or adding this option to an existing business process, you can manage and use interaction channels (including real-time transactions, web-oriented technologies, EDI and other B2B integration interfaces) consistently. As a result, you can fully leverage your partner ecosystem to create new revenue streams by using APIs to securely access their services, and vice-versa. 

Use Analytics to Enable Monetization of Services

It takes real-time data and operational intelligence to monetize services. Axway’s Digital Banking solution provides detailed analytics that leverage data and services from the bank’s entire ecosystem, enabling you to introduce fresh business models with a new approach to business monitoring.

Develop Operational Excellence

Mobile interactions with customers are imposing a new tempo on business, with responses now expected in a matter of seconds (or intraday), not days. This reduces the time available to identify and react to disruptions. Axway’s powerful analytics provide the highly proactive and lean operational intelligence capabilities that are essential to continuous process improvement and operational excellence.

diagram of api enablement for extended financial and insurance services

Overcome the limitations of legacy core IT systems by transforming your front-office business processes and back-office infrastructure into an agile, secure platform for digital banking and insurance initiatives.

Related Products

  • Axway API Management Plus

    Enterprise-grade API management architecture for digital enablement

    • Enable a bi-modal approach to Banking and Financial Services digital transformation:
    • Create a secured and controlled open API layer for your partner ecosystem as well as for your apps developer community
    • Create an internal API service layer to securely access and integrate on-premise and cloud-based applications
    • Respond quickly to customer demands for convenient and transparent real-time services by combining internal and external APIs to create new digital “mashups”
    • Federate identities in real time using popular standards such as SAML and OAuth (instead of moving identity data across security domains and relying on point-to-point integrations)
    • Enable real-time transactions, such as immediate payments
    • Address new security and regulatory risks associated with mobile banking and BYOD workplaces using policy-based data protection
  • Appcelerator Platform

    Native apps, mobile APIs and real-time analytics in one platform

    • Design, build and test rich, fully native mobile apps — all from a single JavaScript code base
    • Define the app data model without writing any code, and generate REST API implementations to access the data model automatically
    • Use a set of cloud-based back-end services that support the mobile application
    • Get real-time mobile analytics for every native app – whether built on the Appcelerator Platform or directly via native SDK (iOS & Android)
  • Axway SecureTransport

    Enhanced managed file transfer (MFT) gateway for serving multiple lines of business

    • Reduce costs by consolidating customer and partner file flows into a shared service with easy onboarding
    • Speed synchronization of file-based data with cloud and big data storage platforms
    • Eliminate the use of risky file-sharing services and enable secure BYOD (Bring Your Own Device) digital initiatives
    • Apply enterprise security policies to person-to-person file sharing without the need for IT support or requiring people to change the way they work
  • Axway Decision Insight

    Real-time proactive analytics

    • Gain single-pane, end-to-end visibility into operational performance and tailor information to address each user’s specific objectives and concerns (e.g. digital channel performance, partner conversion rate, etc.)
    • Give business and IT users the situational awareness and predictive insight they need to meet individual and corporate objectives
    • Accelerate time to value with code-free flexibility
    • Use time-based operational analytics to understand past, present and future performance
    • Enable proactive response to unusual situations and non-events to minimize business and customer impacts

Supporting Resources

  • Success Story: Financial Services

    Funding self-service innovations

    How a large financial services institution integrated access and control across mobile platforms

  • Success Story: Financial Services

    SIX, formerly CETREL

    Axway API Management goes to the front as a mobile backend for peer-to-peer mobile payments

  • Success Story: Financial Services

    Bank Consortium Trust

    Facilitating the management of 380,000 customers and over HKD 10 billion in assets

Ready to drive innovation, efficiency and compliance in the “experience economy”?

Let’s talk.