The banking industry is undergoing a remarkable transformation driven by evolving customer expectations, competitive forces, regulatory shifts and technological advancements. To keep pace with this dynamic financial services landscape, Luxoft and SunTec Business Solutions have forged a strategic partnership. This collaboration is set to modernize core banking operations and deliver unprecedented value to customers.
Integrating innovations: Luxoft's Hogan meets SunTec's Xelerate
Luxoft’s Hogan system is a powerhouse in core banking, designed to streamline financial operations with features like customer information management and transaction processing. Its customizable nature allows banks to adapt it to their unique requirements, ensuring seamless integration with existing systems. With an intuitive interface and automation capabilities, Hogan boosts operational efficiency, minimizes errors and speeds up decision-making.
Hogan not only supports industry compliance and advanced security for financial data but also enhances customer experiences with real-time updates and a unified customer view. This robust solution equips banks to stay agile and innovative in a dynamic banking landscape.
A unified banking solution
The partnership unites Luxoft, a division of DXC Technology, with SunTec Business Solutions, integrating SunTec’s revolutionary SunTec Xelerate platform with the established Hogan core platform. This integration aims to enrich Hogan with capabilities to serve diverse business segments like retail, corporate and investment banking.
SunTec Xelerate, a cloud-native platform, is crucial in this collaboration and offers advanced product management, pricing, revenue management, and partner ecosystem management capabilities, thereby enhancing the overall customer experience.
Responding to evolving consumer expectations
As highlighted by Stephen Greer in his report ‘Helping Banks Adopt Customer-Centric Product Strategies’, banking customers now seek more personalization and proactive services. The collaboration responds to this need, moving towards holistic product management, dynamic bundles, and expanded ecosystem partnerships.
Leveraging IBM Z for efficiency and security
Both Hogan and SunTec Xelerate rely on the IBM Z platform, renowned for its scalability, agility and security. This reliance further ensures a secure environment for mission-critical tasks, aligning with Hogan's approach to optimizing and modernizing core operations using hybrid cloud solutions.
Voices of leadership: Embracing the future of banking
Anthony Coppellotti of Luxoft and Amit Dua of SunTec express their enthusiasm for the partnership. They emphasize the combination of SunTec Xelerate's modernity and flexibility with Hogan’s reliability, foreseeing a seamless integration of modern applications into traditional banking systems.
Toward a comprehensive banking experience
The Luxoft-SunTec collaboration extends beyond technology integration. It explores specific use cases and integration patterns for banks, including relationship-based pricing and behavior-based loyalty programs. The objective is to transform customer experiences and innovation capabilities.
The impact of co-location on IBM Z
The co-location of SunTec’s Xelerate on IBM Z with Hogan’s core platform promises to enhance infrastructure efficiency, integration, security and cost-effectiveness. This strategic move is poised to bring substantial benefits to banks handling large volumes of operational data.
Conclusion
The Luxoft and SunTec partnership is more than a technological alliance; it’s a vision for the future of banking. By leveraging their combined expertise and the power of IBM Z, they aim to enable banks to adapt and innovate, offering cutting-edge services in an ever-evolving financial world. This collaboration is not just about streamlining operations; it’s about unlocking new possibilities for the banking industry.
This article was originally published in Luxoft
