The banking sector is currently undergoing an innovation process that involves a profound transformation of banking activity. Every transformation needs an innovative methodology to be able to change not only what is being done, but also how it is done.
Banks are prioritizing the creation of secure platforms and ecosystems
The development of new technologies that allow massive data analysis such as Big Data, Artificial Intelligence, Cloud Computing, and Blockchain decentralized registration, lead to a new banking technology that has more and more applications in daily operations.
Its implementation, adoption, and use has expanded the supply and demand for banking services.
Large investments are being made for the development and optimization of online channels, offering digital products that are rapidly changing the relationship of the banking sector with its increasingly digitized customers.
Technology investment and growth rate are directly related. The banks that invest most in technology are also showing the highest growth rate.
The most significant change banking has undergone is based on the relationship and bargaining power with the customer. We don't just look for the customer, we fight for them. As customers expect to be able to manage everything online, the complete digitalization of all service processes is a must.
Jesús López-Tormos, Corporate Software Director
Providing an excellent client experience through digital banking is critical
Innovation and technology will enhance the customer experience, optimize risk management, streamline tasks and communicate more effectively.
Customer experience is critical. One-click payments, easy and simple access to accounts, and immediate and accessible information on all devices. And to do so safely.
A bank's reputation that has been built up over the years is no guarantee of customer loyalty and can be ruined in seconds by a small glitch, such as a mobile application problem caused by poor design. Customer experience design in the banking sector is a user-centric process of creating a service or product with the objective of delighting customers at every touch point and creating a strong emotional connection with the brand.
Cybersecurity and process automation will be critical
Cybersecurity is another key challenge of technological transformation. The proliferation of digital devices and cloud services increases the risk of serious incidents that severely impair the operation of banks.
The risk of cyber-attacks is now the biggest concern of the banking and capital markets industry's top executives, overtaking over-regulation, which in recent years had been the main threat.
Another important area for improvement is the automation of processes, such as validation and auditing, as a necessary step for banks to increase their effectiveness and efficiency.
This automation is key to obtain the reports required by international standards and also for the parameterization of the models, analysis and exploitation of the results to anticipate deterioration.
Digital is Human
We have a deep functional knowledge of banking systems and regulatory legislations resulting from more than 12 years of international experience in the sector.
We collaborate with our customers in an agile and flexible way in the improvement of their processes, providing solid functional knowledge in the various banking systems thanks to our experience in multiple projects and countries in the Technology Sector:
Accounting control & CRM
Policy and regulatory
Domestic and international payments
Factoring & Confirming
We have qualified professionals in banking technology, adapted to the transformation model: Big Data, DevOps, BPM…
Teams with extensive experience and qualifications, which allow us to provide added value to the needs and demands of our clients:
Customer-tailored solutions by using the most appropriate tools and with the highest quality such as ISO 27001, ISO 20000, and CMMI Level 5 standards.
Decision-making agility, which is critical for company management in situations of high unpredictability and innovation, is made possible by the use of agile methodologies.
Adaptability to our customer's specific requirements and methodologies.
We look at the entire life cycle of the software.
Extensive experience in projects that require great technological interdisciplinarity.
Closed Project, Professional Services, and Software Factory modalities.
Some of our clients in the Banking Sector
We are satisfied with the service, the excellent communication, and the readiness to assist us. Avalon adapts in an agile and appropriate way to our way of working.
Santander, Technology Division
We are experts in...
Big Data involves the massive management and analysis of large volumes of data. It enables banks to better understand customers' financial behavior and anticipate future needs in order to offer tailored products and services that make modern banking a highly individualized experience.
Artificial intelligence makes it possible to optimize many processes, such as algorithmic negotiation, management of commercial loan agreements, and time reduction needed to review documents, performing in seconds tasks that would take several work hours, while dramatically reducing the human error factor.
We are witnessing an exponential increase in cyber threats and digital fraud. Information security must be a priority. We can help your organization establish controls and policies to reduce cyber security risks, which affect the culture of your organization, and the implementation of appropriate security and artificial intelligence technology tools. This will allow us to get real-time threat information, ensure compliance and troubleshoot quickly.
Blockchain technology provides an open and distributed ledger that records transactions between two parties, ensuring the traceability of the data recorded. Implementation in the banking sector is still in the early stages, but it has a promising future in which banks will be able to process transactions more quickly and accurately while reducing processing costs.