FIS Blog

Future, faster: Making the case for Systematics as a Service

Joel Wheelis | SVP of Systematics, FIS

September 09, 2020

Today’s banking world doesn’t look much like it used to. The shift to digital has completely upended what customers are looking for from their banks. Convenient, immediate service that happens when and where they need it isn’t a differentiator anymore; it’s a must-have for any successful bank. And with the rise of nontraditional banking solutions, advances and innovations are happening faster than ever. Scale, creativity and adaptability will help banking institutions thrive.

Staying ahead in this high-stakes game will mean not just accepting but actively promoting a modernization strategy that helps not only meet but exceed these changing customer expectations. Making that happen comes with its own set of challenges and identifying the least disruptive and most impactful path forward can be a struggle for banks working with complex and older technology and systems. Banks looking to take the leap should be prepared for a long-term strategy that relies on expert tools and solutions. One place to start is considering Systematics as a Service. As a Systematics client, it’s time to consider how you can embark on a journey of modernization.

Core banking

The customer experience is a leading determiner of your bank’s ability to stay relevant and is becoming an increasing focus for financial institutions (FIs) across the globe. With everything from digital strategy to open banking, organizations are struggling to keep their strategic focus on customer-first banking practices. Some of the struggle comes from the bank infrastructure itself, with modern banking practices requiring an adjustment to core banking systems – the front and backend software that do the transaction processing behind the scenes. As those systems age, banks lose out on the agility they need to move faster, work smarter and cut operating costs.

Modern core banking platforms and solutions can deliver more of the intelligent automation, cloud-based core banking and other innovative solutions that improve the customer experience, enhance your bank’s digital presence and sharpen your competitive edge.

Understanding Systematics as a Service

Reliable core processing, extensive industry expertise and the ability to future-proof your technology are the foundational elements of long-term scalability and success, and also the characteristics you should be looking for in a Systematics partner. By relying on Systematics as a Service, you can focus on helping the world bank better. As customer needs and expectations continue to evolve, you’re juggling the need for immediate adaptation alongside increasing market pressure and complex regulatory compliance concerns. With Systematics as a Service, you’re no longer forced to abandon your growth strategy just to cut operating costs and maintain your competitive advantage. You’ll also see significant savings that can be directed to further modernization efforts or to key initiatives that could benefit from more funding.

Fully outsourcing your core processing is the central tenet of Systematics as a Service. With the support of an extensive talent pool handling your Systematics operations and application management, you can offload not only your core processing but also your ancillary applications. With FIS as your Systematics as a Service partner handling the processing load every day, your core banking needs are processed quickly, efficiently and with unparalleled security. This approach mitigates risk and relieves your bank from the burdens of the mainframe, not only saving you hassle and money, but also allowing you to focus on the big-thinking innovations that will continue to drive your long-term success.

Looking to the future

The next decade of banking will present new challenges and new opportunities for growth. Experts predict that everything from innovative solutions to banking cycles and customer requirements will continue to accelerate. Following the lead of market-leading FIS ™, forward-thinking institutions can leverage next-gen banking tools to implement a fully integrated core system or create solutions to work alongside your legacy system to keep you and your customers moving into the future, faster. Empowering scalable growth with FIS as your Systematics partner is the first step on the right path.

FIS is a global leader in core banking platforms, and we have worked with cloud technologies since their inception. FIS next generation core banking technology enables banks to integrate and modify their core and supports any bank type, from digital to direct. Let us help you expand your use of the Systematics suite beyond what you use today, or we can work with you on a tailored journey to our component-based, cloud-deployed, API-first FIS Modern Banking Platform.

As a first step on the journey to modernization, you should be looking for strategies and solutions that take your existing Systematics deployment and make it easy for you to move into a software as a service (SaaS) model. Take advantage of our data centers and processing capability to remove the burden of maintaining all – or just part –— of your mainframe and add on expanded services to totally eliminate your bank’s mainframe. For our Systematics software customers, Systematics as a Service is most likely the very best onramp for your risk-mitigated next generation modernization journey.

As the platform giants continue to bring new options to the market, banks and fintechs can be working together on innovative new options and tools. Banks that are ready to succeed against this new potential threat should be looking for their place inside of vibrant ecosystems that connect banks and their users to solutions for every current and potential need.

Changing the game for financial institutions

Look for an ecosystem that is leveraging the power of platformication – a new business model with a plug-and-play approach that relies on application program interfaces (APIs) to allow simple integration with systems and functionality. At FIS, we started the API revolution with ourselves.

Once considered only a product company, FIS has moved into the solutions market by integrating our systems to offer better tools and resources for our clients. By introducing FIS Code Connect, we deliver a straightforward way to manage integrations into FIS and facilitate the building out of partnerships and a thriving API marketplace. By giving our clients the ability to customize their solutions and quickly integrate via our APIs, our clients have the power to access their cores and back offices, enable digital channels, integrate with smart fintechs and launch new lines of business.