FIS: Accelerating Digital Intelligence in FinTech: Spark Summit East talk by Aaron Colcord
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Transcript of FIS: Accelerating Digital Intelligence in FinTech: Spark Summit East talk by Aaron Colcord
FIS GlobalAccelerating Digital Intelligence in FinTechAaron ColcordDirector of Engineering, Data and Analytics
Who is FIS Global?• One of the largest global
FinTech companies
• Customers are banks and credit unions
• Ecosystem of products and services built around core banking
• We’re selling to the captive audience of the install base
• A FinTech startup’s dream• We’re FIS Digital Finance, Mobile Data & Analytics
Our expectations have shifted subtly over time
Digital Transformation JourneyWe are all Agents of Transformation
We are all on a digital transformation journey
The way we understand the capabilities
We’ll be talking about what we’ve learned along the way
The Evolution of Banking"financial institution," late 15c., from either Old Italian banca or Middle French banque(itself from the Italian word), both meaning "table" (the notion is of the moneylender's exchange table), from a Germanic source (compare Old High German bank "bench"); see bank(n.2).
Banking Behavioral Shift
6xmoreDigitalInteractions
9xmoreDigitalInteractions
Online+MobileOnline+Mobile
BranchBranch+ATM
Data Enhancing Relationships• The Uberization of
retail banking is really difficult
• Thwarted by legacysystems and thinking
• Data is key to getting us from here to there
GOALS
123
Deliver and expand business data
Adapt data needs quickly
Transform and grow data competency
CHALLENGES
ONE
TechnicalDebt
TWO
Internal& ExternalResistance
THREE
Security, Compliance& Regulation
VOLUME • VELOCITY • VARIETY
Increasing Expectations, new verticals, flexible data
Volume
VelocityVariety
Benefits
Merging known techniques withnew technology is not impossible.
• • •
Data has potential, find it!• • •
Technologies exist to solve big problems.
Customer Solution• Comprehensive capabilities
through a complete platform• Diverse user experience• All built on the same framework• Leveraging bank grade
infrastructure and services• Interfacing through pre-existing as
well as custom integrations