Technisys Adds New Tools to Help Banks Speed Digital Transformation

Saying financial institutions (FIs) need to future-proof their businesses, digital and core banking platform Technisys has announced the latest release of its solution that helps retail and commercial banks accelerate their digital transformation.

The latest release of Cyberbank Core provides tools that help these banks add capabilities, define behaviors and change product functionality, Technisys said in a Wednesday (Aug. 10) press release.

“Today, FIs will focus less on enhancing existing financial products and services and more on delivering novel, tailored experiences in real time that meet the ever-evolving needs of consumers,” Technisys Founder and CEO Mike Santos said in the statement. “Enabling FIs with smarter ways to deliver value — through tailored financial products — and forming a clear view where operations and offerings will matter most.”

PYMNTS research has found that the banking industry is undergoing a pandemic-fueled digital transformation that is reshaping how businesses of all sizes operate.

Read more: Bankers Upgrade Cash Flow Management Features to Keep Small Business Customers

For example, the digital shift is disrupting relationships between small to medium-sized businesses (SMBs) and their financial institutions.

Businesses are increasingly turning to financial services partners that can provide these tools, so financial institutions must adapt their offerings to meet SMBs’ digital needs if they are to maintain customer loyalty and stay competitive, PYMNTS reported.

Indeed, when SoFi Technologies announced its acquisition of Technisys in February, the company said this was one of several deals that will enable it to bolster its banking offerings.

See also: SoFi Pays $1.1B For Banking Software Firm Technisys

As reported at the time by PYMNTS, SoFi CEO Anthony Noto said in a company press release, “Technisys has built an attractive, fast-growth business with a unique and critical strategic technology that all leading financial services companies will need in order to keep pace with digital innovation.”