One of the technological evolutions that has caught the attention in recent times is Non-Fungible Tokens (NFTs). It has been a phenomenon, with the values of some of the NFTs reaching astronomical heights. It remains to be seen whether this will be a bubble like the Tulip Mania or the Dot Com bubble, or whether it will mature into a viable technological option.
ISO 20022 is an international standard for exchanging electronic messages between banks and financial institutions. It gives the finance industry a common language and model for sending payment messages and exchanging payment data across the globe. ISO 20022 is an open global standard for financial information. It provides consistent, rich, structured data that can be used for every financial business transaction.
Our day-to-day lives are becoming increasingly reliant on the direction, decision-making, and support of AI systems. Never in the history of technology has the threat or the need to protect the integrity of such decision-making been more urgent or real. I recently served as an official reviewer for a new BCS pre-publication book titled “Artificial Intelligence and Software Testing – Building systems you can trust”.
Some enterprises are vacillating about migrating from on-Premise SAP HCM to cloud-based SAP SuccessFactors. But in the future, they will be forced to switch, as the on-Premise legacy system is not designed to keep up with the pace of the upcoming consumer-driven market. Even SAP’s own announcement about the year 2027 as the deadline for SAP ERP HCM support makes the migration inevitable.
Test Automation isn’t a new term, however in recent times, with the push for digital transformation across industries, test automation has taken a pivotal stand. Enterprises now aim to get applications to market faster while providing the best-in-class customer experience.
The banking business is fast evolving, and individual banks that serve retail, commercial, small-to-medium-sized businesses (SMEs), or wealth management firms must make rapid changes to become “digital-first” enterprises. However, making such a transformation entails enormous risks. Banks that get digital transformation wrong risk damaging client relationships and losing market share to digital-only competitors who are more agile and technologically capable.
FinOps is a solution for controlling operational costs in a cloud environment and offers ways for teams to manage their cloud costs, wherein everyone takes ownership of their cloud usage. FinOps term is coined by combining Finance + DevOps. It’s an evolving cloud financial management discipline and cultural practice. In practice, FinOps means establishing performance indicators on an organization’s cloud costs based on service, business unit, environment, etc.
Digital banking involves the digitization of all traditional banking products, processes, and activities to serve customers through online channels. Banking that is done through the digital platform without any paperwork like account opening forms, cheques, pay-in slips, and so on is referred to as digital banking. It relies on high-level process automation, web-based services, and APIs to provide banks and their customers with high levels of cost efficiency, security, and flexibility.
Blockchain technology (within the broader distributed ledger umbrella) has received a lot of eyeballs over the last decade, moving beyond the admiration of niche cryptocurrency fanatics and into the mainstream conversation of experts and investors, especially in the banking and financial services space.
