Nearshoring for banking software
Knowing this, it is important to note that the banking software development companies have received important certifications in order to standardize the provision of testing services around the banking field, as a result of which it has begun to perceive how companies are increasing subcontracting this type of processes in nearshoring format, allowing them to save up to 20 percent.
Because of how delicate the use of a banking software implies, it is necessary to verify the quality of the software as a step prior to its implantation in any company has, today, more importance than ever. As budgets are reduced to you, it increases the importance of choosing the software that best suits the needs of the company and that gives the least number of possible failures. They say that a euro invested in quality can save up to 50 euros in repairs, problems, loss of image, customers. In short, investing in securing the quality of a banking software is a practice in addition to profitable, necessary.
Companies that are interested in long-term outsourcing seek to meet the growing needs of software development by allowing the following three alternative models to be considered:
- Project-based operations
- Dedicated centers
- Captive operations.
Some companies who consider that typical project-based subcontracting are not suited to their needs since they may decide to establish captive facilities in attractive nearshore locations (ie, Eastern European countries) and perform work there as part of their own operations. However, this model has tangible disadvantages in terms of risk, investment, operational efficiency and organizational issues.
Therefore, it can be applied mainly by big corporations and multinational corporations that are ready to invest heavily, take calculated risks and allocate the necessary management resources. In this sense, the commitment of dedicated nearshore development center (DDC) seems to be a viable alternative for companies with the long-term expected need for software outsourcing.
Financial software technologies
Banks and financial institutions are the main components of the financial system in Europe. These organisms are the last element of the system and are the ones who have a more direct treatment with the general public. For this reason, banks and financial institutions require of high-efficiency technological tools that enable them to carry out day to day operations without any delay.
Customers of these institutions often distrust these electronic media to carry out their online transactions as the main flow is money.
To this end, banks and financial institutions have been adopting a variety of applications aimed at satisfying the needs of the client, thus leading to a more direct relationship. Terms such as transfers, CRM and e-business are becoming more and more common in this environment.
Bank software In Europe
During the financial crisis unleashed at 2007 worldwide, it has led to the creation of multiple instruments that help entities and customers themselves to better understand the position of banks in the face of market volatility. The new regulations and requirements of the European Central Bank (ECB), which over time have translated into greater transparency but also in greater challenges for banks and savings funds. The systems seek to generate models that anticipate possible economic scenarios in order to minimize risks.
As a result of these companies as AISGroup, with a wide knowledge of the sector, have designed many tools, but in particular we will appoint one as it is AIS Observer, which is a tool developed for the departments of monitoring credit risks for financial institutions.
The company seeks with these systems to know the risks of the entity and to give with it a range of possibilities for the resolution of these risks and to follow up its evolution, in addition to monitoring the operation and quality of models of concession and monitoring of risks. In the same way, the software manages to build a historical base that serves to anticipate the effects of changes of policies, population or environment, because they are factors that often cause large disturbances in the market and thus generate complete follow up reports.
The program works as a web tool through the Oracle system and elaborates deep analyses, both of the entity and of the potential clients who want to be part of the bank. This system provides information for the creation of several predictive models that today are very important for the new regulatory requirements of the European Central Bank.
Information technology for banks
The financial sector is distinguished by its high competitiveness and to remain in this market is required to provide the best service and the best cost. This service must offer high reliability, speed and quality of information.
Many banking entities are looking to the new information technologies to be highly efficient and able to evolve flexibly and quickly.
Investment in technologies is also required to be progressively financeable over time.
The financial market requires applications of high complexity and speed, because your business resides in the operation of information for a correct decision making.