The prevailing landscape of severe competition and heightened customer expectations affects every industry, including banking. Existing banks must address the constant evolution of customer demands to thrive. Furthermore, banks that make transformations to meet customer needs and adapt through necessary technological changes are the ones who will differentiate themselves and survive in this disruptive ecosystem. […] The post Embracing Digital Transformation: The Composable Banking Approach appeared first on Blog by Cigniti Technologies ..read more

The European Collateral Management System (ECMS) is a harmonized and integrated system with the vision of organizing a single platform for collateral services across Europe through Target 2 Securities (T2S). T2S is a revolutionary security settlement platform that provides access to centralized infrastructure to entire market participants in the post-trade landscape. Development and testing of […] The post European Collateral Management System – A Need for Complete Harmonization in the Pan-Europe Collateral Markets appeared first on Blog by Cigniti Technologies ..read more

A token is a value that goes securely through the network to process payments without exposing actual card data. Tokenization aims to replace or represent specific sensitive information without compromising its security. The 16-digit payment card account number is replaced with a unique digital identifier, or the “token,” for mobile and online transactions. The tokens […] The post The 4 Benefits of Tokenization in Digital Payments appeared first on Blog by Cigniti Technologies ..read more

In the growing digital landscape, it’s a significant challenge to meet and cope with customer expectations, changing trends, use of technology, and expand the user base for digital applications. Many applications today fail to realize their full potential because they do not consider the complete end-user requirements during the design and development phase. It requires […] The post The Capabilities and Importance of Accessibility Testing appeared first on Blog by Cigniti Technologies ..read more

Communications on electronic trading platforms are based on well-defined protocols. These protocols are in standardized format for the “Exchange of information” between the systems. Electronic Exchanges have completely different protocols that they presently expose as their E-Trading interface as below. FIX Order Flow – FIX (FIX4.2, FIX4.4 & FIX5.0) Native Order Flow (SAIL, Pillar, Millennium, […] The post FIX – The Mainstay of Electronic Trading Protocols appeared first on Blog by Cigniti Technologies ..read more

Cloud cost management tools help organizations get better value from their cloud investments by reducing wasted cloud spend. Cloud cost management tools can broadly be categorized into two types: 1. Native Cloud Cost Management and Optimization (CCMO) tools: Cost Management and Optimization tools provided by Cloud Service Providers (CSPs) like AWS, Azure, GCP, and Oracle […] The post The Licensing and Pricing Model Associated with FinOps Tools appeared first on Software Testing Blog by Cigniti Technologies ..read more

Banking has undergone a significant digital transition, which goes far beyond simply switching from a traditional to a digital environment. To evaluate, connect with, and serve their clients, banks and other financial organizations must use a comprehensive digital transformation plan. Understanding client behavior, preferences, and needs is the first step in the fundamental approach to […] The post Fireside Chat – Accelerating the Banking Transformation with Digital Assurance appeared first on Software Testing Blog by Cigniti Technologies ..read more

What is ISO 20022? 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 […] The post Different Aspects and Success Factors of ISO 20022 Migration appeared first on Software Testing Blog by Cigniti Technologies ..read more

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. Whether it is Payments, P&C (Property & casualty) claims to process in […] The post Reshaping Syndicated Lending – A DLT Use Case appeared first on Software Testing Blog by Cigniti Technologies ..read more

Digital security has always been an issue for payment organizations and their customers. Transparent and immediate payment is the basic need. To enhance and popularize digital payments and be more customer-focused, payments need to be made easy, fast, and highly secure.  Blockchain technology has come up with the solution which addresses the payment security needs, […] The post How Blockchain is Solving the Pain Points in the Payments Sector appeared first on Software Testing Blog by Cigniti Technologies ..read more