Santa Clara, CA, June 08, 2022 (GLOBE NEWSWIRE) -- Banks in the United States are seeing a stronger pace of innovation in 2022, but how quickly they roll out new digital innovations can vary markedly, according to two surveys recently commissioned by WSO2, a leader in digital transformation technology. At American Banker Digital Banking 2022, WSO2 Chief Technology Officer Eric Newcomer will lead a pre-conference bootcamp to help banks close the digital innovation gaps that exist in many organizations today.
Digital Banking 2022 runs between June 13 – 15, 2022, at the Hilton Austin in Austin, TX. The bootcamp is being held on Monday, June 13, from 9:15 am. – 10:30 a.m. in Room 408 at the Hilton.
Bootcamp to Flatten Banks’ Digital Innovation Bell Curve
In a survey for the WSO2-sponsored Economist Impact report, “Threat assessment 2022: United States – digital competition in global finance,” 68% of US banks say their speed of innovation is much stronger compared to their closest competitors. Roughly aligning with this response, a bell curve of innovation emerged when US Banks were surveyed by LEWIS Research for WSO2’s “Reprogramming the Enterprise” report. Among respondents, 49% report that they implement new ideas in a few weeks, and 26% say they can do so even faster—within days. Another 21% of banks state that this process takes a few months while the remaining 4% say it can take a year or longer.
At his bootcamp, “How to Use a Digital Platform to Innovate Fast in Digital Banking,” Eric will examine how banking IT executives can flatten the bell curve and accelerate their digitization initiatives. In addition to discussing best practices that banks can adopt to improve the results of their API-oriented digital transformations, he will provide an interactive demo of a digital platform as a service as an example of the new technology emerging to speed innovation.
Key topics covered in the bootcamp will include:
- How digital strategy maps to organizational structure, along with the impact to key roles
- How banks can plan a digital journey and measure for success
- How to create a uniquely differentiated digital value
- How to use a modern cloud-native digital platform architecture
Throughout the session Eric will draw on his experiences as chief architect of the Investment Banking Division of Credit Suisse; chief architect of Treasury and Trade Services at Citi; and CTO of WSO2, delivering solutions to some of the largest US and global financial institutions. Additionally, he will incorporate concepts from the book he co-authored, “Understanding SOA with Web Services.”
Demonstrations of WSO2 Solutions for Digital Innovation
In addition to the bootcamp, attendees of Digital Banking 2022, can visit WSO2, a Gold sponsor, at booth #107. For more than 15 years, WSO2 has provided banks with open-source and cloud native API management, integration and customer identity and access management (CIAM) solutions, along with consulting to drive their digital innovation. Among the solutions being demoed are:
- WSO2 Open Banking solutions for compliance and collaboration
- Choreo digital platform as a service for deploying services, integrations, and APIs in hours or days
- WSO2 API Manager for API management and integration
- WSO2 Identity Server for customer identity and access management (IAM)
- Asgardeo identity as a service (IDaaS) easily embedding advanced CIAM features into their apps within minutes
About WSO2
Founded in 2005, WSO2 enables thousands of enterprises, including hundreds of the world’s largest corporations, top universities, and governments, to drive their digital transformation journeys—executing more than 18 trillion transactions and managing more than 500 million identities annually. Using WSO2 for API management, integration, and customer identity and access management (CIAM), these organizations are harnessing the full power of their APIs to securely deliver their digital services and applications. Our open-source, API-first approach to software that runs on-premises and in the cloud helps developers and architects to be more productive and rapidly compose digital products to meet demand while remaining free from vendor lock-in. WSO2 has over 900 employees worldwide with offices in Australia, Brazil, Germany, India, Sri Lanka, the UAE, the UK, and the US. Visit https://wso2.com to learn more. Follow WSO2 on LinkedIn and Twitter.
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