NTT DATA launches Platea Banking to compete with fintechs and neobanks
Source: NTT Data
NTT DATA has today announced the launch of Platea Banking, a new digital banking platform. Platea Banking helps banks to address transformation challenges with their legacy technology, and to launch new services or innovative new business models faster.
Banks are slowly adapting to modern banking, hindered by legacy systems and a lack of resources to create the digital experiences that consumers demand. As long-term partners to some of the world’s largest retail banks, NTT DATA has experienced these challenges for traditional banks first-hand and witnessed changes in the structure of banking created by the Open Banking era. As a result, Platea Banking has been built to help banks around the globe move away from monolithic models and enable them to create new operational models through a platform-based approach, which facilitates a more customer-centric focus to banking.
Built with modern cloud-native banking architecture, Platea Banking is an open banking platform that brings an extensive integrated partner ecosystem and a set of functional modules that enables banks to build their own digital platforms. The modules include a full suite of services, from customer onboarding to lending, planning and financial management, card issuing and processing, and payments, among others. This cloud-focussed approach grants both elasticity and flexibility, so banks can use Platea Banking to grow their digital offering at a pace that suits them, without being locked into a specific vendor.
Manuel Romero, Global Head of NTT DATA’s Open Banking Practice, commented: “Technology plays a central role in helping banks innovate and deliver next-generation banking services to their customers. With consumers demanding digital banking experiences, it is imperative that banks act accordingly to respond their needs. Platea Banking has been built to empower banks, providing them with a path to incorporate cloud-native technology to expand their business, as well as the ability to overcome obstacles such as scalability issues, legacy IT and compliance.”