Everest Group recognizes GFT as a “major competitor” for digital banking applications and services

NEW YORK, November 8, 2021 / PRNewswire / – Banks around the world are under pressure: The low interest and high cost of legacy technologies threaten their margins. A new generation of consumers feel they are irrelevant. Regulators demand that they be open to integration with external services and technologies in the context of Open Banking. And neobanks add to the pressure on incumbents because they are not burdened by legacy technologies and processes.

Fortunately, the latest generation of cloud-native core banking systems meets all of the above challenges. They make it easier than ever to transform a bank or build a new bank at costs much lower than those associated with traditional technologies. GFT is a leading specialist for the implementation of this new generation of digital banking. The company has partnered with leading providers of cloud-native core banking systems – Thought Machine, Vodeno, and Mambu.

Research firm Everest Group has recognized GFT as a “Major Contender” for application and digital services in the banking sector in its recent publication “Application and Digital Services in Banking PEAK Matrix® evaluation 2021: Global and Europe Focus”. GFT is one of the world’s leading specialists in digital banking applications and services.

Digital banks are easy to build and deploy with BankLiteX

Together with Thought Machine, GFT launched BankLiteX, the modular end-to-end solution that enables rapid creation and deployment of a cloud-based digital banking entity. With BankLiteX, time to market new banking functions or even a complete bank is reduced to a fraction of the time required by conventional systems. It means that:

  • banks can be much more responsive, customer-centric and innovative.
  • the solution eliminates the risk to move to a completely different technological base.
  • total exploitation the cost can be up to 70 percent lower than with the old systems.

Of course, BankLiteX is designed to cooperate with other systems and technologies for transparent open banking experiences. Among GFT’s recent digital banking successes is the creation of the fully digital Mox bank in Hong Kong based on Vault, Thought Machine’s next-generation, cloud-native central banking engine.

Marika Lulay, CEO of GFT, commented: “We understand the pressures banks are under to remain competitive. Therefore, together with Thought Machine, we have developed BankLiteX. Our customers can now be among the first to benefit from the latest technologies. The Everest Group report clearly confirms our expertise in this area. “

PEAK Matrix® reports analyze the performance of various vendors by evaluating them on two key criteria: their vision and ability to deliver services successfully and their impact on the market. This report marks the first time Everest Group has assessed the capabilities of businesses for digital applications and services in banking, including a PEAK Matrix chart with a European focus in addition to the global focus.

Everest Group PEAK Matrix® the reports provide a unique insight into the major players in a market segment. The analysis and information they provide make it easier for companies to decide which global service providers best meet their needs. Based on the rigorous PEAK matrix® methodology, the reports follow Everest Group’s annual processes for each category, which include an analysis of the information provided in the request for information questionnaires (RFIs), interactions with service providers and the complete verification of the customer references provided .

About GFT:

GFT drives the digital transformation of the world’s largest companies in the finance and insurance sectors, as well as the manufacturing industry. As a provider of IT and software engineering services, GFT offers strong consulting and development skills in all aspects of pioneering technologies, such as cloud engineering, artificial intelligence, mainframe modernization and the Internet. objects for industry 4.0.

With its deep technological expertise, deep market knowledge and strong partnerships, GFT implements scalable IT solutions to increase productivity. This allows customers to access new IT applications and innovative business models faster, while reducing risk.

Founded in 1987 and established in 15 countries to ensure close proximity to its customers, GFT employs 6,000 people. GFT offers them career opportunities in all areas of software engineering and innovation. GFT Technologies SE share is listed on the Prime Standard segment of the Frankfurt Stock Exchange (ticker: GFT-XE).

www.gft.com

About the Everest group:

Everest Group is a research firm focused on strategic IT, business services, engineering services and procurement. Our clients include leading global companies, service providers and investors. Customers use our services to guide their journeys to achieve increased operational and financial performance, accelerated value creation and high impact business results. Details and detailed content are available at http://www.everestgrp.com

SOURCE GFT Technologies SA

Related links

http://www.gft.com


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