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  • Enterprise Engineering, Inc – Open Banking Readiness Assessments William Trapani – CRO

     

     

     

     

     

     

     

     

     

     

     

    Enterprise Engineering ViewPoint live on Banking CIO Outlook website

    Enterprise Engineering, Inc – Open Banking Readiness Assessments – William Trapani – CRO
    Retail and commercial banking customers are rapidly changing the ways that they interact with banks. Consumer needs are evolving to match a more technology enabled and less branch-oriented way of money-dealing. Individuals generally use internet, mobile and even watch banking for their core needs. Various Fintech applications are commonly used to access to individual accounts to pay bills, receive payments and transfer cash.
    Many local and regional banks and credit unions have dated websites that do not support mobile banking. Watch banking functionality will lag further behind mobile banking. Currently supported interfaces are generally outdated and/or fall short of standing out. Additionally, many banks are not ready for Open Banking, which would allow FinTechs controlled access to their systems. At this time, they are screen-scraped for data and will ultimately forfeit market share to Banks that are Fintech & user friendly.
    The answer for the majority of these banks will be a complete Open Banking Strategy for Open APIs such has FDX – the Financial Data Exchange and custom APIs for Open Banking Integration. Unfortunately, most banks are unaware that these shortfalls will forfeit them market share. People will use the bank that is easiest for them and that no longer means the bank closest to them in their neighborhood. Many consumers are comfortable with an ATM machine for any cash needs that they have and really have no desire to walk into a branch for other needs. IT systems need to be the differentiator for these banks now since location is no-longer a valued benefit.
    Enterprise Engineering, Inc (EEI), has been working with Banks for over 20 years for Fintech access and certifying secure API access to their core banking systems. EEI’s Open Banking Readiness Assessmentscover 5 key areas of focus for a bank:
    Assessment of the current state of your APIs and client facing systems
    Security and Data Access Methods
    API certification of standard APIs in comparison to your own APIs
    Testing and Automation of your systems
    Manage Services to run and monitor your platform
    Our clients find out exactly where their systems stack-up against their peers, learn how to securely grant access to their systems and work with FinTechs on a large-scale basis. This will allow them to leap their competitors, grow accounts, assets and create a “stickiness factor” for their end users.
    About the Author:
    William Trapani has been selling enterprise scale banking solutions and architectures for over 20 years. Based in New York he has worked with the top banks and wealth managers throughout his career. He is an accomplished presenter and technology host, having presented to live audiences of over 5000 people. William has become a regular to webinars on Banking and Security topics.

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  • Leading Digital Innovation: eBankIT & EEI’s webinar series kicks off

    EEI and eBankIT kicked off their Leading Digital Innovation series on Thursday March 26th, 2020. The webinar discussed the real challenges that open banking transformation presents to financial institutions and counters with innovative thinking to address the opportunities and the concerns of becoming a successful participant in the open banking ecosystem.

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  • A Message From Our COO Regarding COVID-19 Readiness

    A Note From Our COO Regarding COVID-19 Readiness

    Dear Business Partners and Friends of Enterprise Engineering,

    As COVID-19 (the Coronavirus) continues to impact the global community and concerning news continues to break on a daily basis, I want to personally update you on the steps we have taken to ensure business continuity for all our customers around the world and reassure you that our operations and all ongoing projects remain unaffected and won’t be negatively impacted by the current developments.

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