Latest opinions that Santosh Radhakrishnan has shared on Finextra

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Santosh Radhakrishnan

Chief Commercial Officer

XYB Limited

Member since

05 Jul 2023

Location

London

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Santosh's opinions

Coreless Banking: The New Evolution of Core Banking

The financial services industry is undergoing a significant transformation driven by rapid technological advancements, changing customer expectations, and increasing regulatory pressures. At the heart of this transformation is the evolution of core banking systems, the backbone that supports the operations of banks and financial institutions. H...

17 September 2024 /payments /retail Banking

No 7. Choosing a New Banking Solution - All Cores Aren’t the Same

Given the number of solutions available and the cost and complexity of building one from scratch, banks would be better served by acquiring a 3rd party core banking solution. One that is proven with existing customer implementations and designed for flexibility to meet the varying requirements across different banks, geographies, customer segment...

20 February 2024 /retail /cloud Banking

No 6. From Rip and Replace to Modernisation – The Approaches to Addressing Legacy Core Challenges

Why the time is right to modernise Nobody ever said that replacing a core system would be cheap or easy, and we highlighted this previously when we discussed the challenges of replacing core banking. Nevertheless, not all projects to replace core banking have been failures. Below, we discuss the different ways that banks have approached core bank...

13 February 2024 /sibos /retail Banking

No 5. The Challenges of Core Banking Replacement

As we highlighted in the Evolution of Banking, the technology landscape has evolved over time. Each change has brought new capabilities that were not possible with previous versions. At the same time, memory and storage capacity have become cheaper and much larger. To give an idea of how dramatic this change has been, consider that 1TB of storage ...

05 February 2024 /retail /devops Banking Architecture

No 4. The Evolution Of Banking

The previous blogs in this series taught us how banking distribution and core banking technology have evolved over the decades. Banks are criticised for lacking innovation and not being progressive with technology, but the exact opposite is true for some. We will later share more on banks' significant challenges when considering replacing their co...

30 January 2024 /payments /retail Banking

No 3. The Evolution of Banking Distribution – From Apps to APIs

Before the introduction of technology, banking had always been a face-to-face business. Yet even personal interactions have evolved from happening anywhere to meetings in coffee/tea shops and then having dedicated branches where banking happened in person with physical money. At this point, everything was recorded in paper ledgers till as late as ...

23 January 2024 /payments /retail Banking

No 2. The Evolution of Core Banking Technology – From Mainframes to Beyond Cloud

To understand why coreless banking is such a paradigm shift, we must travel back in time and track the evolution of banking channels, products and services. Let’s rewind 60 years to a world before core banking when the first computer was used to automate paper ledgers. In 1959, Barclays was the first bank to buy an electronic computer, an Emidec ...

17 January 2024 /payments /retail Banking

No 1. Unveiling Coreless Banking - The Future of Banking.

Over the next few weeks, I will provide a definitive guide to the next evolution of banking technology – Coreless Banking. Amid a period of unprecedented digital and technological transformation, fast-changing consumer, business and market demands, and regulatory challenges, banks face a dilemma. At the heart of any bank sit several core banking s...

09 January 2024 /payments /retail Banking Architecture