Why IT will drive future transaction banking models

• The investment in SaaS is a business opportunity to create modern transaction banking models. How can financial institutions look to develop the appropriate use cases to exploit it?
  
  
• Embedded banking is a functionality that is integrated into a SaaS platform to allow the host institution to white label services provided by others and drive new sources of revenue, or uplift existing income. What strategies drive this and how do you deliver them?
  
  
• How do financial institutions reap the adoption benefits of the ISO 20022 standard and what are they? What next for ISO as it moves beyond a demanding technology compliance project to a commercialised opportunity?

Many banks have realised that SaaS is not a compliance or technology project, but a business opportunity and integral pillar of delivering future services, products and opportunities. According to Bottomline research, 65% of institutions say digital transformation is the biggest focus for their business, and 75% have a strong appetite to transition towards a payments ecosystem over the next 5 years.

As the financial world is increasingly moving towards an ecosystem, there is a need to switch focus away from temporarily patching gaps and towards a future-looking approach that will allow them to plug and play as needed. SaaS can effectively and cost-efficiently help financial institutions address the growing trends and developments in the industry, with ISO 20022, fraud detection, and the ongoing drive to further embedded services being some of the timeliest concerns.

Payment standardisation (via ISO 20022), aggregation (via centralised data) and connectivity (via APIs) create a world where banks enable clients to focus on their business instead of when, where and how to make payments. So how can banks fully reap the benefits of SaaS in order to become the conductor of their payments orchestra?

Register for this Finextra webinar, hosted in association with Bottomline, to join our panel of industry experts who will discuss practical use cases of SaaS adoption, and how it helps banks build effective transaction banking models that not only address current trends, but future-proof the business.