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By Richard Harmon, VP, Global Financial Services Industry, Red Hat
Digital banking must now go well beyond the plain capabilities of displaying account credits and debits. In the digital age, customers expect their primary mode of engagement with banks to be digital, including a full set of value-added services. In addition to these new customer expectations, rising financial services regulations such as DORA (Digital Operational Resilience Act) continue to point the way for institutions to improve security and resilience and be adaptive to comply. The role of technology in banking has been growing along the past decades, reaching to a point that is key not just for digital customer experience and operational efficiency, but now also at the center of banking resiliency and overall risk management.
As banks remove expensive and risky manual processes along their digital transformation journey, they must also retain the ability to quickly adjust business processes based on the needs of customers and regulators. While many players in the financial sector are increasingly adopting IT automation to reduce costs and eliminate the time and errors associated with manual…
