The pace of innovation in banking shows no signs of slowing. Although often driven by customer expectations most changes to core banking systems have a technological component. Technology is evolving rapidly and some banks are still operating on inflexible and outdated legacy banking systems. Outdated systems run the risk of security risks, compromised data management and non-compliance with regulations. Current trends for core banking systems A number of key trends in banking bring a requirement for updates and improvements in core banking systems. Open banking and customer data The recent p ..read more

Mergers acquisitions guide NDIS providers Mergers and acquisitions among National Disability Insurance Scheme (NDIS) providers can bring enormous benefits, for providers themselves and their clients. Merging with another provider can bring economies of scale, reduced overheads and can also allow for a diversification of the services being offered. Yet these positive drivers go hand in hand with challenges. Do the merging organisations really fit together, with shared objectives and common interests? Do the two providers share an understanding of who their community is and what type of clients ..read more

The research is in. All 537 local government authorities (LGAs) in Australia are either considering a digital transformation or are already on the journey. Accelerated by the Covid-19 pandemic, digital transformation has been underway in local government for some time. More and more community members want to interact with government on their mobiles, tablets or desktop computers rather than in-person or over the phone. “In the wake of the sudden digital acceleration prompted by the pandemic, customer expectations and community demand also evolved to be digital-first. Now that digital service ..read more

Three key trends in technology and innovation for banks and superannuation in 2024 With 2024 well under way, we’ll know soon enough if the financial sector tech predictions and trends identified in late 2023 will come to pass. Yet staying on top of evolving customer requirements and emerging global trends requires a glance backward, too. In this blog we look at a range of reports, surveys and predictions from late 2023 and early 2024 to shine the spotlight on some of the challenges and opportunities we see for this sector. AI innovations Although data management, no-code/low-code solutions, c ..read more

Digital transformation readiness checklist There are many challenges facing any organisation heading down the digital transformation path. Along with technology and systems integration, digital transformation can impact and be impacted by company culture, data security and regulatory compliance. The term ‘digital transformation’ covers such a wide range of activities – and technology is only part of the story. At 9Yards, we see that just a handful of common reasons can lead to the failure of a digital transformation project, things like: unclear vision or communication articulation of a targ ..read more

Has your business continuity plan kept up with your digital transformation? Understanding the risks and potential business impact of a disruption to your system is critical for business recovery and continuity. If you’ve been changing, upgrading and improving your solutions architecture or technology, you may need to take a look at whether your business continuity plan needs an update. Being prepared relies on a well-designed systems architecture that has BCP and disaster recovery capability and capacity built into it. Why is business continuity planning important? The experience of the Covid ..read more

Three surprising building blocks of successful digital transformation for superannuation funds Is your superannuation fund committed to developing a digital transformation strategy? Clear about the target state you want for your fund’s tech stack? Whether you’re in the process of selecting technology, in the midst of digital transformation or trying to get your initiative back on track, you want to make sure your investment gets the best results for your superannuation fund’s technology, culture and success. It might surprise you to know that your plans for transformation won’t be effective u ..read more

The evolution of IT recruitment: Introducing 9Yards Talent Amid the flurry of technological advancements and disruptive innovations we’re seeing across the financial services, banking, insurance and education sectors, one critical factor often determines the success or failure of a digital transformation project: skilled IT talent. Financial services organisations and banks are working hard to ensure they attract, retain and delight customers with a wide range of digital transformation strategies including automation, AI, big data analytics, and services delivered on mobile technology. Across ..read more

Why today is the day to book a core banking assessment A core banking capability assessment is an excellent way to ensure that your core banking technology and processes are fit-for-purpose today, aligned with your bank’s goals for growth tomorrow, and ready for future innovation. We’re seeing consistency in predictions of what 2024 will bring. Regardless of who you listen to, top items on the list of what to expect include AI, cybersecurity, open banking, hyper-personalisation. The focus, for banks working to stay relevant, is on CX, innovation and security. New players in the core banking p ..read more

Are you AI ready? A guide to including AI in your digital transformation strategy Artificial intelligence, or AI, has become synonymous with innovation, efficiency, and transformative potential. As your organisation embarks on the journey of digital transformation, understanding AI is essential to effectively harness its capabilities. What is AI? AI refers to the simulation of human intelligence in computer systems programmed to problem-solve and learn. AI is capable of performing tasks that historically required human intelligence; tasks such as recognising speech, making decisions, and iden ..read more