Buy Now, Pay Later (BNPL) is a popular scheme of installment payments that banks and financial services provide for their clients. The BNPL method has peaked in popularity among users, with a 2022 customer base of 360 million people and expected growth by 157% by 2027. With these tempos in…

The ongoing battle between open source and licensed software has been hitting the internet headlines for a long time now. Multiple pitfalls and issues are closely examined and scrutinized by supporters from both camps. …

When you deal with software development for banks, you know that there are certain processes, procedures, and operations banks have to follow. A lot of actions should be documented and stored in centralized archives — physical or electronic. Our client — a leading retail Bank in the EEU — encountered…

When you are going to design a software application, there are two ways to get it right. You can do the coding yourself relying on your own specialists and their skills. Or you will need some software development proposal from an outsourced vendor. A well-written Request for Proposal (RFP) and…

Quite often we can hear from our business contacts “It isn’t something I’d like to take part in right now.” Or “I’m too busy to think about innovations while covid.” Some people cannot simply become innovators in their companies as they are afraid to fail. The proverb says: “The early…

It is said that profit is a reward for risk-bearing. It is very true when we bear in mind the case of the banking industry. Banks are literally exposed to many different types of risks. …

The cycle of our articles described key risk indicators for banks according to the European Central Bank’s assessment. In previous article we spoke about business process management and the way to automate it. …

Our previous article describes how Business Rules Management Systems (BRMS) can enhance banks’ resilience and sustainability due to their interactivity and user-friendliness. But it is neither the last nor the least key risk indicator for banks which was marked by European Central Bank (ECB) representative’s Eurozone bank assessment report. Speaking…

The analysis of inefficient cost structure in banks, which has become evident amidst coronavirus disease outbreak will be discussed in our next article. Few other key risk indicators for banks in the Eurozone — according to European Central Bank (ECB) — will be listed as well. As for now, let’s…