In a digital-first, hybrid framework world, banks and other financial services companies can’t afford to fall behind. As noted by International Banker, massive investment in fintech firms has spilled over into the banking world — now, both traditional and digital banks are creating “composable” frameworks that leverage everything from cloud computing and data analytics to advanced application programming interfaces to help keep banks ahead of the game.
But how do financial services firms make time and space for advanced innovation? With regulatory and compliance expectations evolving — not to mention complex IT environments that require additional resources and effort to reduce downtime and increase availability — it’s easy for bank IT teams to get caught up in keeping the lights on rather than pushing the envelope.
Managed services offer a way for banks to get the best of both worlds.
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