Technology

Deloitte builds production-ready solutions for the financial services industry

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Over the years, banking and finance-related industries have innovated in parallel to existing enterprise cloud and computing trends.

As the world embraces advancements in enterprise-scale processing horsepower, among other innovations, expert solutions are cropping up aimed at porting it all to the banking space.

“We, together with AWS, are co-investingin a multi-year strategy where we’re saying, ‘Let’s build these solutions that we can take to market that can help these banks be more agile, launch products faster to market and also help address the modernization journey for the banks,” said Gys Hyman (pictured, left), principal at Deloitte Consluting and general manager for ConvergePROSPERITY, Deloitte’s cloud-based suite of software solutions. “And that’s really sitting within the ConvergePROSPERITY business unit within Deloitte.”

Hyman and Ken Meyer (pictured, right), chief information and experience officer at Truist Financial Corp., spoke with theCUBE industry analyst John Walls at the recent AWS re:Invent conference, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed the existing and potential benefits of an initiative like ConvergePROSPERITY and how Deloitte and Truist are working together. (* Disclosure below.)

Making crucial legacy tech work with cutting-edge tech

Deloitte is a premier enterprise solutions and consulting company, and part of its mission is helping customers drive new value areas and reach ever-scaling business objectives. One of those for whom it’s been performing those duties is Truist, the U.S.-based banking conglomerate.

“The challenge that many banks have is once you get below that [cloud] layer, there’s a lot of legacy-type technology that lives in the product offerings that we all offer,” Meyer explained. “So, the idea of these folks or others that are trying to make that a little bit easier to connect that front end to that backend, all with the true modern stack, is something that’s differentiated.”

The key to making it all work between the legacy and newer solutions is the right transformational approach, with a phased style proving more beneficial and risk-averse than the “big bang” approach, Hyman added.

Here’s the complete video interview, part of SiliconANGLE’s and theCUBE’s coverage of AWS re:Invent:

(* Disclosure: Deloitte Touche Tohmatsu Ltd. sponsored this segment of theCUBE. Neither Deloitte nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE

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