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23/02/21

Payment Infrastructure: MYHSM with ACI Worldwide and Fintech Finance

This month, MYHSM’s Global Head of Sales, Darren Busby and Ciaran Chu, Head of Public Cloud at ACI Worldwide, sat down with the host of Fintech Finance’s Virtual Arena, Doug Mackenzie, to discuss the changes in payment infrastructure that are allowing tier 1 banks to be just as innovative as fintechs.

For the longest time, banks have been operating their own payments infrastructure on-premise. In recent years, however, this has changed with more banks seeking new avenues to diversify and achieve new revenue streams. The cloud has become a true enabler for digitalisation and many legacy banks are now embracing and commencing their cloud journey. The cloud is now viewed as a viable alternative to managing and operating hardware and infrastructure in-house and the adoption of public cloud reap many rewards that banks can no longer afford to neglect.

Partnering with a managed service provider to support the migration from legacy infrastructure to the cloud can ensure banks modernise and future proof their core payment infrastructure whilst benefiting from access to expertise and reduced capex. Removing the complexity around the transition is also vitally important to aid a successful transformation strategy.

Post Covid-19, banks will need to introduce new operating service models to ensure longevity. Onus activities such as managing the security and compliance associated with data centres and payment HSMs do not align with a banks prime objectives.

So, the question is, how can banks leverage the cloud to facilitate a digital transformation strategy and unlock new revenue to innovate and compete?

Check out this video from Fintech Finance Virtual Arena to find out more.

 

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