NOVEMBER 20246SaaS core banking platforms are gaining significance for powering the customer experiences of banks with new features, enhancements and compliance measures. The platforms eliminate the need for banking organizations to invest in and maintain on-premise hardware, reducing operational costs and capital expenditures. This cost-effective approach enables banks to allocate resources efficiently, achieve greater cost predictability and optimize IT spending. Making the transition to SaaS core banking will help companies innovate rapidly and provide better services to their customers.The global core banking solution market is expected to reach $36,752.6 million by 2032. The growing need to manage banking operations and the accelerated adoption of cloud-based solutions are key drivers for this trend. Analytics and AI technology are gaining prominence. Banks are able to make more informed decisions on various functions, including product management and back-office operations, with the data history captured around AI. In this edition of Banking CIO Outlook, we explore the recent developments in core banking solutions and how companies harness SaaS-based platforms to offer top-notch services.We feature insights from industry expert Patricia Nuñez, Executive Director, Head of Digital Products and Payments at Santander Bank, N.A. She highlights the need for prioritizing new technologies and optimizing existing platforms and services for sustainable growth.We also include perspectives from Jack Anastasi, Senior Vice President, Director of Government and Vertical Banking at Kearny Bank, who sheds light on the need to embrace a consistent day-to-day, week-to-week and month-to-month process for success. He also emphasizes that understanding the client needs and demonstrating true care is the key to advancing in the banking sector.We hope this edition of Banking CIO Outlook will help you and your organization build the partnership needed to foster an environment driven by efficient technology.Let us know your thoughts!Copyright © 2024 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Email:sales@bankingciooutlook.comeditor@bankingciooutlook.commarketing@bankingciooutlook.com NOVEMBER - 20 - 2024, Volume 07 - 07 (ISSN 2644-2418) Published by ValleyMedia, Inc. To subscribe to Banking CIO OutlookVisit www.bankingciooutlook.com VisualizerMichael WayneEdwin PaulManaging EditorJames RobertsonExploring the Game-Changing Role of SaaS Core Banking James RobertsonManaging Editor editor@bankingciooutlook.comEditorialEditorial StaffCarolynn WaltersJustin SmithJoseph Michael Yenny TurnerKenneth ThomasRussell ThomasPaul Barber Tiffany Hayworth*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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