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Banking Tech Awards
4th December 2024
Royal Lancaster Hotel

Banking Tech Awards 2022 Finalist: EY

EY Nexus for Banking has been selected as a finalist in the Best Smart Banking Tech Solution – Innovation category in the Banking Tech Awards 2022.

EY Nexus for Banking

With new business models, advanced technology, rising customer expectations seeking personalized experiences, coupled with the digital acceleration fueled by COVID-19 pandemic, banks today are in a perpetual race of meeting these current and future demands using yesterday’s technology. As a result, banks need to rethink operating models and their digital transformation journeys to capture new growth opportunities and unlock greater value for customers now and beyond.

EY teams have developed — EY Nexus for Banking — a flexible, cloud-native acceleration platform designed to help enable end-to-end experiences through a reusable technology and data assets, carefully-curated ecosystem of innovative partners and products using which banks can design, build, launch and enhance propositions at the speed of their customers’ evershifting expectations. EY Nexus simply removes the burden of standing up the technical backbone so that banks can focus on providing a superior customer experience.

EY Nexus for Banking helps enable faster digital transformation for many banking clients

EY Nexus for Banking helps enable faster digital transformation for many banking clients. We have provided two such case studies below. Refer to the EY Nexus for Banking website for detailed case studies:

Project 1: EY Nexus for Banking platform was leveraged to digitally transform a tier one bank to reimagine how it can best serve ever-evolving real-time customer needs and become a future-ready digital bank fit for the age of personalization.

EY teams implemented EY Nexus for Banking, which at its core is a cloud-native, highly-resilient platform comprising modular architectural building blocks. These building blocks work in harmony to absorb transactional data from banks, or third-parties through open banking, to provide contextual insights. Using advanced machine learning models, it generates real-time, tailored insights and integrates domain-specific data services into banks’ channels in real-time, within context.

EY Nexus for Banking’s modular platform infuses scalable, reliability and value

Project 2: EY Nexus for Banking made this global bank‘s digital solution more reliable, scalable, and personalized and fast.

EY Nexus for Banking enabled the EY client to leverage data insights to deepen connections and build a sustainable competitive advantage. The platform enabled the client to harness its existing technology investment, data and analytics and supercharge them to swiftly deploy its digital proposition to drive value creation – faster and with greater scalability and reliability. The curated and continually expanding, suite of accelerators and ecosystem of integration partners, coupled with EY process and expertise, transformed product development.

Using EY Nexus for Banking, the bank was able to launch a platform-powered mobile payments application and digital marketplace which generate data-driven insights that resulted in a multidimensional network effect, across consumers and merchants through real-time offers and notifications. This translated into real growth of the bank’s user base from 0.7 million users to over 2 million users at the end of the project.

In total, more than a quarter of the local consumer market was captured and the imminent threat of local disruptive competitors was strategically countered.

Refer to EY Nexus for Banking website to know more.

About EY:

EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.

Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

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