Retail and Corporate Banking

Key Take aways

  • Retail banking is the division of a bank that deals directly with retail customers.
  • Retail banks bring in customer deposits that largely enable banks to make loans to their retail and business customers.
  • Corporate banking refers to the aspect of banking that deals with corporate customers.
  • Commercial banks make loans that enable businesses to grow and hire people, contributing to the expansion of the economy.
  • Both types of banks offer various products and services. 

 

Traditional players providing core banking solution are striving to reposition themselves as technology platform firms with a banking license. NextCT is investing in FinTechs, APIs, application modernization, and cognitive computing to facilitate this transition.

Our Mode 1-2-3 approach ensures that banks evolve in line with disruptions in the ecosystem and rapidly changing customer dynamics. We enable organizations to become future-proof by fostering strategic partnerships.

We have entered into a joint venture agreement with DXC Technology to specifically focus on application modernization, API related services, and product functionality enhancements. Our partnership with IBM Watson enables us to develop retail banking solutions and core banking solution in the automation and AI space and deliver cognitive capabilities to existing platforms. DRYiCE, an autonomics and orchestration framework, drives efficiency for the banking sector by automating both standard and nonstandard tasks.

NextCT believes in a collaborative approach and delivers co-innovation lab offerings to banking sector clients. Our co-innovation lab in London has 150 professionals working with emergent technologies for applied innovation.

Some of our key achievements in the banking domain are –

  • Partner for distributed agile transformations at a leading Australian Bank
  • Digital transformation in lending for a Leading UK based Diversified Financial Services Company
  • Cloud transformation for a Multi-National BFS Company Operating Across APAC
  • ABP for a leading Australian Bank

The Everest Group PEAK Matrix report recognizes NextCT’s commitment to deliver meaningful innovation to the banking sector by leveraging its engineering heritage.