NTT DATA Announces Expansion of Banking Modernization Capabilities at Money 20/20 USA
After a successful launch of Bank 4X in 2022, NTT DATA to unveil additional accelerators at Money 20/20 USA.
NTT DATA has announced a new suite of accelerators for core banking modernization to help banks minimize risks and improve speed to market. The Bank 4x Accelerator Suite powers transformation through progressive core renovation and modernization while enabling banks to capitalize on innovative growth through a greenfield technology stack.
"Deciding to modernize a bank's core is no longer a binary choice of either doing nothing or opting for a total replacement," emphasized Jason Gandy, Senior Vice President of Financial Services Consulting at NTT DATA Services. "The landscape of core banking technology has witnessed massive advances, presenting a variety of tailored solutions that empower the banking industry to become significantly more flexible and agile in their operations, enabling banks to adapt and thrive in today's dynamic financial landscape."
The complete suite of accelerators includes Platea Banking, Transformation Manager, UniKix, Application Re-architecture, Data Cataloger, Data Validator, Data Migrater, NuCAF and CloudART.
NTT DATA is already guiding 12 international banks through their modernization journey, delivering outcomes in the following areas:
- Digitizing core systems, driving next-generation, cloud-based banking through high performance design patterns.
- Delivering parameterized, configuration-driven solutions that provide an alternate, less disruptive path for a bank's modernization journey.
- Deploying a cloud-based, modern operating model enables next-generation platforms to power innovation and address a bank's most pressing needs while delivering impactful return on investment.
"Banks and financial institutions are walking a tightrope between innovation demands and aging technology," said Madhusudhan Magadi, Managing Director of Financial Services Enterprise Architecture in Financial Services Consulting, NTT DATA Services. "Our combined capabilities allow us to maximize financial and operational efficiencies to uniquely enhance customer experience while future-proofing client's investments with innovative coreless banking solutions."
NTT DATA is announcing the expanded capabilities at Money 20/20 USA, Oct. 22-25 in Las Vegas. Visit booth 2004 at the event to meet with the NTT DATA team, or find out more in.
Additional information about the Bank 4x Accelerator Suite
NTT DATA has 100+ assets (Accelerators, Frameworks, Platforms and Tools) currently being leveraged across financial services and insurance that can be tailored to bring fit-for-purpose for our clients Core Modernization initiatives. The following are a few of the contextual accelerators.
- Transformation Manager
Catalogs and evaluates existing application assets and allows for strategic roadmap creation by both reducing manual efforts and project timelines. Enables strategic roadmap creation, "re-architecting" and harmonization of programing languages, data structures, BPM, Workflows into preferred end formats, business rule inspection and re-use.
A Mainframe Application Re-hosting tool that helps migrate the mainframe and secondary applications to a virtualized data center or public cloud platform that significantly increases costs savings and preserves all business logic. Mitigates technology stack risks (e.g. obsolete products, non-conformance to tech standards), catalogues and evaluates applications providing real-time application health data.
- Application Re-Architecture
Application Re-Architecture is a re-engineering solution that assists in transforming legacy application environments by addressing business processes, the application, and the underlying data structures. The Application Re-Architecture solution includes legacy system discovery, modernized system design, and iterative build & test development sprints.
- Data Cataloger
The Data Cataloger analyzes all the source objects needed for data migration – like databases, tables, keys, etc. – and migrates the objects analyzed from source to target, such as Snowflake.
- Data Migrater
The Data Migrater seamlessly migrates data from Source to destination. It can use both ODBC and a file-based approach to extract the data. The pipeline can be configured using simple YAML files.
- Data Validator
The Data Validator validates the data migrated using sampling capabilities, has configurable hash functions to find differences and unmatched records are stored in platforms like Snowflake for quick redressal.
Provides a framework that includes a set of repeatable, measurable and industry-standardized processes, procedures, architectures, and governance models that assist with a client's adoption of hyperscale clouds.
- Platea Banking
Platea Banking is a composable banking solution that accelerates time-to-market and de-risks enablement of new products and services for financial institutions worldwide. The platform supports NTT DATA clients in their dual objectives for digital transformation – transforming the core business through progressive modernization as well as launching new growth initiatives through a greenfield technology stack.
Assists with providing organizations the best fit for their applications in the cloud using automated tools that help with scanning code, cloud deployment, and application management. Helps address aspects of a cloud transformation, including remediation, migration, and cloud-native application development.
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