Deposit innovation, withdraw returns.
Critical Software has extensive experience in the Finance industry, not only in disrupting traditional banking capabilities but also in the FinTech sector by shortening product time-to-market.
With our domain knowledge in implementing business critical software engineering and our proven ramp-up and Build, Operate, Transfer (BOT) approaches catering for scale-up and system ownership needs, we help our clients adopt transformative solutions for their business and create new revenue streams rapidly, such as Automated SME Lending, Fraud Management or Crypto Currencies.
We add value to clients who need to balance business criticality with agility in software engineering.
Many banking systems are products of their time. Built decades ago to serve branch operations in a reliable and secure way, these systems are now expensive and cumbersome. They struggle to scale and fail to manage modern banking demands, namely the need for efficient, accessible and digitalised customer journeys.
The need for these systems to adapt has never been clearer and banks need to think about:
- Maintaining and improving key functionality within a more adaptable architecture.
- Deriving more business value from existing data, using artificial intelligence and machine learning techniques.
- Leveraging artificial intelligence and machine learning to identify business services causing legacy systems to fail or that are increasing operational costs due to inefficiencies.
- Achieving all this in an agile way, with limited internal technical specialists.
Explore how we can modernise your core banking systems, delivering better bottom lines for your customer operations.
21st century financial institutions face 21st century problems. Chief of these is the need for an ‘always-on’ digital approach which places the customer front and centre of their operations. With digital lifestyles, customers are becoming increasingly tech-savvy and want immediate, secure and easy access to their accounts and the services offered by banks and other financial institutions. At the same time, a smart digital strategy allows institutions to rapidly capture and analyse intelligent data insights and real-time trends about what customers really want – tailoring their services in an agile way.
Find out how Critical can accelerate your digital transformation initiatives, placing both the needs of your institution and – most importantly – the desires of your customers at the forefront of digitalisation projects.
Our holistic approach to digital payments maximises business value. Key solutions include crafting bespoke customer journeys, seamlessly integrating diverse solutions (both legacy and new systems) and collaborating with various ecosystems to ensure seamless integration between providers and merchants.
The emergence of digital-first challenger banks and FinTechs has compelled traditional institutions to elevate their payment services to meet customer demands. Customers now seek innovative experiences, combining multiple services into an all-in-one solution tailored to their busy lives.
Discover how our teams can support your business in unleashing its digital payments potential.
Data is, or should be, the cornerstone of most financial institutions. It can be used to implement effective fraud prevention measures, identify customer behaviours and reshape product offers accordingly, as well as make important metrics more accessible across organisations.
Yet many financial institutions are unable to use or manage their data effectively. Some estimates put the amount of data used by financial institutions at 0.5% of that available to them. Worse still, many do not fully leverage the data they do have access to. PwC’s Big Decisions Survey in 2016 showed that only 33% of finance executives would expect to use data and analytics to influence their next big decision.
Explore how Critical can unlock the potential of your institution’s data, from virtualisation to consolidation and much more.
Financial services are under attack. 70% of UK financial institutions suffered some form of cyber attack in 2020. The digital transformation trend has opened up a multitude of weaknesses in the way institutions work, with 91% of mobile banking apps having at least one medium-risk vulnerability. With many incumbent banks relying on decades-old legacy systems to manage their operations, the risk increases dramatically. The older the system, the less safe it is to new and complex cyber attacks.
In an age where Open Banking has opened up the possibility of data sharing between banks and third parties, it’s more important than ever to keep your data protected. Learn more about how Critical can protect your institution’s customer information and reputation.
