TCM will be exhibiting at this year’s NonStop Technical Bootcamp in Burlingame, San Francisco, CA. Amongst other things, we...
comForte focuses on modernization making NonStop as contemporary as its peers
Payments solutions that haven’t been modernised can hinder further adoption in the shift from branch-centered to customer-focused services
Besides Security, Modernization is one of the most important focus areas for comForte. While the HPE NonStop team champion new technologies and new run-time platforms, for many users of NonStop, change happens slowly. No more so than on NonStop systems serving Financial Institutions (FI’s) where solutions continue to run, unchanged, after several decades of service. And yet there are many business drivers that suggest modernization of these traditional applications is in order. After all, the NonStop system is as modern as it can be, but the use of tried and tested NonStop applications needs to be reviewed and brought up to speed.
In a recent post Modernizing Payment Applications on HPE NonStop to the comForte blog, comForte Lounge, there was coverage of a recent webinar on this very topic. Among the key points raised in the webinar were a number of these business drivers. Topping the list that should be motivating FIs to modernize is the shift from branch-centered to customer-focused services, particularly prevalent in banking and spurred by competition from new entrants into the payments space. Investments in big data and analytics, customer relationship management (CRM), and enterprise IT integration underpin this driver.
Another business driver recognizes the rampant shift to mobile banking and self-service that is well under way. Factors propelling this trend include omnichannel architecture, mobile/near-field communication (NFC) banking, and cloud services (e.g., software as a service [SaaS], platform as a service [PaaS]). Just as important is the competitive pressure on merchants and financial technology (i.e. fintech) companies. Fierce competition is driving innovation and development of new services. Providers are focused on solutions that lower transaction prices, deliver faster payments, and assist in the transition from cash to non-cash payments. A significant trend is the pressure to develop real-time payments and real-time settlements.
comForte has focused on modernization for one very important reason. As a longstanding member of the NonStop vendor community with connections to NonStop users worldwide, it is imperative that NonStop shed any image of being a legacy platform. With comForte’s products, this is easily achieved and nowhere is this more a reality than among FIs. Make sure you check out this post to the comForte Lounge and should you have any questions or comments to make – please contact us if you would like to arrange meetings with our team at any time.