bankingciooutlook

NTT DATA Introduces Platea Banking

Banking CIO Outlook | Friday, March 26, 2021

Platea Banking has been developed to help banks across the globe move away from monolithic models and allow them to create new operational models through a platform-based approach, which allows for a more customer-centric focus on banking.

FREMONT, CA: NTT DATA, a recognized leader in consulting and IT services for the banking and financial services industry, has declared the launch of Platea Banking, a new digital banking platform. Platea Banking helps banks to address transformation challenges with their legacy technology as well as to introduce new services or innovative new business models faster.

Banks are gradually adapting to modern banking, hindered by legacy systems and a lack of resources to create the digital experiences that most consumers demand. As long-term partners to some of the world's largest retail banks, NTT DATA has faced these challenges for traditional banks first-hand and experienced changes in banking structure created by the Open Banking era. Consequently, Platea Banking has been developed to help banks worldwide move away from monolithic models and develop new operational models through a platform-based approach, which allows for a more customer-centric focus on banking.

Developed 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 allows banks to build their own digital platforms. The modules include a full suite of services, from customer onboarding to lending, card issuing and processing, planning and financial management, and payments, among others. This cloud-focused approach grants both flexibility and elasticity, so banks can utilize 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, stated, "Technology plays a central role in helping banks innovate and deliver next-generation banking services to their customers. With consumers demanding digital banking experiences, banks must act accordingly to respond to 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."

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