Digital Transformation in the Financial Industry
With the slogan “NDGIT meets Nordics“, the German Fintech NDGIT invited selected banks and IT service providers from Denmark to the Digital Transformation in Finance Conference in Munich at the end of May. As NDGIT’s technology partner, Munich-based software service provider jambit contributed to this Fintech conference with a practical part by inviting the participants to presentations at the jambit offices.
NDGIT, which is short for “Next Digital Banking”, is the first API platform for banks and insurances, that supports digitizing banking and insurance to ecosystems. With innovative software solutions and a longtime knowledge of the industry, jambit guides banks and insurances on their way through the digital transformation. From finding ideas and the development of concepts to the realization of successful and customer-oriented software, we support our customers in every step of the project. As integration partner, jambit supports NDGIT in implementing their Open Banking Enablement Platform with customers.
Software Solutions for Banks and Insurances
A total of 60 representatives from Danish banks and the Danish IT service provider Bankdata joined the Fintech conference from May 23 to 25. The purpose of the conference: Making valuable contacts and learning more about the development of banks, Fintechs, and the digital transformation in Germany, Switzerland, and Austria. Apart from presentations about PSD2, data-driven banking, open banking, and data analytics platforms, the participants had the chance to visit Munich-based companies from the industry, which are either going through the digital transformation themselves, or are supporting customers going through it.
In this context, Stefan Weiss, jambit’s Head of Business Division Banking & Insurance, invited the bank representatives on May 23 to the jambit headquarters in Munich. After getting a first overview of jambit’s competences in the area of software development, the guests learned about the special challenges of the banking and insurance industries and which role software can play in this matter.
The Cloud As Future Transformation Tool for the Banking Industry
A main part of the visit was dedicated to the topic of cloud computing. How can the cloud be useful for the financial industry and how does the organization change with this new technology? Our jambitee Michael Beham, Systems Architect in the Competence Center Platforms & Operations, focused on these questions in his presentation. Afterwards, they were also discussed with the jambit DevOps team, which recently migrated the CMS of FAZ.NET to the cloud and is managing the 24/7 hosting. For the guests, it was especially interesting to know what the banking industry can learn from the early experiences of the media industry with the topics of digitalization and the cloud.
Advantages and Challenges of Working Agile
Next on the agenda was the topic of agility. Working agile and scrum have become important parts in the project-based business of software development in general, as well as in many projects at jambit. Thomas Müller, Head of Department Audi Mobility, gave an introduction about agility, its methods and practices. Subsequently, the Danish visitors got some insights into jambit’s practical experience with the agile working methods in a “Lessons Learned” session.
Turning Banks into Technology Businesses
Have the financial service providers understood the need to change and are they addressing the digital transformation actively? The intensive talks and open discussions at jambit and over the course of the Fintech conference showed, that the development and digital transformation has begun within the industry, but is differently advanced among companies.
jambit would like to thank the Danish guests for their expressed interest and for their questions and amendments, which made this event more vivid and informative for everyone. We would also like to thank NDGIT for the trust and noris Network, which supported us with an additional expert on the topics of IaaS and PaaS.
Conferences and events like “NDGIT meets Nordics“ play an important role in making the topic of digital transformation more transparent and understandable. As an experienced partner for innovative software projects, jambit is happy to support you and advise you on how to use these chances and expand your digital offers. Learn more about our competences in the banking and insurance industry and contact us now:
Head of Banking & Insurance
Sales Banking & Insurance