NTT DATA, a notable brand in consulting and IT services delivery for BFSI (banking financial services and insurance) has launched its new banking technology, Platea Banking. It would work seamlessly with legacy banking technology to speed up the launching process of new business models or services.
The new banking platform is designed to facilitate the transition from traditional bulky models to high-efficiency, operational models through the cloud-native, platform-based approach. It will promote the Open Banking ecosystem and enable banks to provide improved banking services to their customers.
As an open banking platform, Platea Banking is supported by cloud-native banking architecture. The digital platform comprises a broad partner ecosystem and multiple functional module sets that allow banks to create digital platforms as per their preferences.
Various services included in the modules are customer onboarding, planning and financial management, lending, card issuing and processing, payments, and other key services. Due to the cloud-native approach of Platea Banking, banks can smoothly scale up their digital transition at their comfortable speed without any vendor lock-in issues.
Achieving Futuristic Banking Capabilities
The Global Head of NTT DATA’s Open Banking Practice, Manuel Romero commented: “Technology plays a central role in helping banks innovate and deliver next-generation banking services to their customers. With consumers demanding digital banking experiences, banks must act accordingly to respond to their needs. Platea Banking has been built to empower banks, providing them with a path to incorporate cloud-native technology to expand their business, as well as the ability to overcome obstacles such as scalability issues, legacy IT and compliance.”
Developed by NTT DATA, Platea Banking is a trademarked open banking platform built on a high-efficiency digital architecture to support, ease and sustain complex business projects for BFSI entities. Using progressive core modernization, the Platea Banking facilitates the transformation of legacy infrastructure while enabling banks and FSI entities to initiate new growth ventures through a greenfield technology stack. Platea Banking would thus help banks to gain “cutting-edge” digital competency to satisfy present needs and achieve futuristic capabilities.