The past decade has seen traditional banks offer new products and services in an attempt to access new customers. These products have frequently over-promised and under-delivered. In contrast, the new generation of fully digital retail banks continues to evolve promising a far greater range of services, more economically.
Competition within the banking sector is creating opportunities for both existing retail banks and the new Neobanks. The selection of the right core banking and digital banking solution is critical to realizing these opportunities.
Youtap’s recent partnership with Mambu, the leader in modular banking and lending, coupled with our white-label digital banking solutions, provides the flexibility and speed for banks to transform and launch new digital services in record time and cost-effectively.
The key to success starts with selecting a cloud-native infrastructure that enables products to be taken to market quickly and which can scale rapidly to meet customer demand. A digital banking product catalog that provides the products and services to satisfy the needs of retail banking, consumer, business or P2P lending, and wealth management customers, completes the path to success.
The new generation of retail and neo-banks is reaching a mass market, promoting financial inclusion, and satisfying the needs of the digital native.
Solutions offered by Youtap and its partners continue to advance and develop the financial services industry, enabling the new digital banks to reach the next generation of customers. This is forcing the traditional bricks-and-mortar financial institutions to sit up, take notice and start to participate in the digitalization of their business, to remain relevant.