NTT DATA introduces the 'Bank of Tomorrow' at Sibos 2013

To showcase innovative solutions, and demonstrate how changing consumer behaviour, increased regulation and evolving technology are driving a fundamental shift in the financial sector

Milano – September 17, 2013 - NTT DATA, the global IT innovator, will exhibit the future of banking at Sibos, the leading event dedicated to financial services and payment, organised by SWIFT, from 16-19 September in Dubai.

Through a series of speeches and presentations, as well as demos on booth G111, NTT DATA will be showcasing the solutions and services that will drive multi-channel management, dynamic payment workflows and a payment engine to power the 'Bank of Tomorrow'.

“The financial services sector is in the grip of immense change, driven by digitisation. This is not about simply adapting existing services to a more digital world, but the development of brand new banking solutions that are changing the way consumers manage their money and enabling financial institutions to run more efficiently,” said Domenico Arena, Senior Manager at NTT DATA.

“Over the last decade, we have seen new players enter the retail payment market, mainly through the world of e-commerce. Consequently, banks were slowly shifted towards the end of the payment transaction and further away from the core of the business. Smart financial organisations are already taking steps to re-engineer their banking systems to provide context and data around our money. This is the bank of the future, one where our banks are not just repositories for cash, but provide personal financial management through multiple channels and payment mechanisms.”

NTT DATA envisions a world where smart banks are transforming the user experience of customers through the adoption of an e-wallet. Whether it's mobile banking, person-to-person payments, social lending and crowd funding or even e-couponing, the way we handle money is fundamentally changing. To keep up with these changes, banks need to embrace advanced mobile devices and networks, social media and channel integration to address the needs of the modern consumer, safely and securely. 

Mobile payment services are at the forefront of this and helping define the new frontiers of digital banking. As such, NTT DATA is developing innovative solutions to help retail banks manage the transformation from online to digital banking. In particular, NTT DATA's VTPie Payment Platform is its proposition to support banks, insurance firms and corporates in the entire payment lifecycle with cost- and time-efficient solutions thanks to specific designed modules. 

“VTPie started out as a compliance solution for SEPA payments, and now has evolved to become the flagship enabler of the Bank of Tomorrow. In particular, the newly launched VTPie4MyBank is a complete solution for a fast connection to the new online payments experience based on Internet banking services promoted by EBA Clearing. By empowering banks to embrace modern developments including mobile banking and big data, NTT DATA is giving these institutions the tools they need to maintain a continuous connection with customers," added Arena.

NTT DATA experts will be available to showcase the solutions that are already a reality for a number of international banks, as well as share ideas and suggestions to efficiently address the emerging challenges and opportunities of payments. 

About NTT DATA

NTT DATA is your global innovation partner headquartered in Tokyo, with business operations in over 35 countries. Our emphasis is on long-term commitment, combining global reach with local intimacy to provide premier professional services varying from consulting and systems development to outsourcing.

NTT DATA combines local flexibility and agility with centrally coordinated access to global resources. NTT DATA’s long-standing customer relationships are a proof of its ability to combine the best of both worlds: the scale and resources of a globally operating group, combined with local teams possessing deep market insight and expertise. This has allowed NTT DATA to meet customer needs all over the world, consistently exceeding their expectations for quality, timeliness, and local knowledge.