At the cutting edge of digital transformation, Polys Hadjikyriacos, CSO & Executive Board Member, NETinfo

By Puja Sharma

NETinfo and ANSA Bank received the prestigious recognition of the Most Innovative Digital Onboarding Rollout in the latest IBSi Global Fintech Innovation Awards

The award celebrated a collaboration powered by NETinfo’s Digital Banking Platform as a Service. Notably, the project distinguished itself through its remarkable agility, achieving a successful implementation within an accelerated timeframe. ANSA Bank is backed by ANSA Merchant Bank, a member of the ANSA McAL Group of Companies. In December 2020 ANSA Merchant Bank purchased the Trinidad and Tobago locations of Bank of Baroda. In April 2021, the Bank of Baroda branches were rebranded ANSA Bank.

NETinfo stands at the forefront of technological innovation, spearheading digital transformation strategies for banks since 2000. At the heart of their offerings lies the NETinfo Digital Banking Platform, a flagship solution that has played a pivotal role in the digital evolution of financial organisations across 30 countries globally. This versatile omnichannel engagement hub empowers institutions to craft dynamic digital banking strategies, seamlessly connecting with customers across multiple channels.

Polys Hadjikyriacos, CSO & Executive Board Member, NETinfo, attributes the success of the project with ANSA Bank in the Global FinTech Innovation Awards to several key factors: “Firstly, the collaboration between ANSA Bank and NETinfo played a crucial role. NETinfo’s Digital Banking Platform as a Service provided a robust foundation for ANSA Bank’s digital onboarding rollout. Additionally, the project’s agile implementation methodology allowed for swift adaptation to changing requirements and market dynamics. Furthermore, the expertise and innovation demonstrated by both ANSA Bank and NETinfo ensured the seamless integration of cuttingedge technologies and best practices, ultimately resulting in a
standout solution that met the needs of modern banking consumers.”

What was the process of the project – what inputs were required on either side?

“The project involved a collaborative effort between ANSA Bank and NETinfo, leveraging the strengths and expertise of both parties. Initially, thorough planning and analysis were conducted to define project objectives, scope, and requirements. ANSA Bank provided insights into its specific business goals, customer demographics, and regulatory landscape, while NETinfo contributed its technical proficiency and experience in digital banking solutions. Throughout the project lifecycle, regular communication an feedback loops were established to ensure alignment and transparency. ANSA Bank actively participated in user acceptance testing (UAT) and provided valuable input on user experience (UX) design and functionality. On the other hand, NETinfo facilitated the customisation and implementation of the NETinfo Digital Banking Platform to be offered as a Service, building ANSA Bank’s unique customer journeys, rich functionality covering both retail and corporate customers, and applying the appropriate
security policy and compliance standards.”

Were there any issues that needed to be addressed/tailored?

“While the project progressed smoothly overall, there were some challenges that required careful consideration and customisation. One notable aspect was the need to tailor the digital onboarding process to align with ANSA Bank’s unique business model, customer preferences, and regulatory requirements. This involved fine-tuning workflows, authentication methods, and data validation rules to ensure compliance and security without compromising user experience. However, through collaborative problem-solving and proactive communication, these issues were successfully addressed, allowing for the seamless deployment and operation of the solution.”

How will you keep the solution up to date?

“Ensuring the ongoing relevance and effectiveness of the digital banking solution is a top priority for both ANSA Bank and NETinfo. To achieve this, a proactive approach to maintenance, enhancement, and innovation is already adopted. Regular updates and fixes will be applied to address security, improve performance, and introduce new features. NETinfo’s dedicated consultants and support team will provide technical assistance and troubleshooting as needed, ensuring minimal disruption of operations. Additionally, ANSA Bank will continue exploring opportunities for further innovation and differentiation.”

How is the way consumers access financial services changing and what does that mean for the financial services sector and for security?

“The evolving digital engagement landscape has profoundly influenced how consumers access financial services, driving a shift towards digital channels and self-service solutions. Increasingly, consumers expect convenient, seamless, and personalised experiences across various touchpoints, such as mobile apps, online banking portals, conversational banking and other channels. This trend presents both opportunities and challenges for the financial services sector. On one hand, it opens up new opportunities for customer engagement, revenue generation, and market expansion. On the other hand, it raises concerns about data privacy, cybersecurity, and regulatory compliance. Therefore, financial institutions must prioritise security by implementing robust authentication mechanisms, encryption protocols, and fraud detection measures. Moreover, they must invest in education and awareness initiatives to empower consumers to safeguard their personal and financial information in the digital realm.”

What key features does the Digital Banking Platform as a Service offer?

“NETinfo’s Digital Banking Platform as a Service offers a comprehensive suite of features and capabilities designed to empower financial institutions to deliver innovative and personalised digital banking experiences.

Key features include:
• Multi-channel support: Seamless integration across web and mobile channels, enabling omnichannel engagement.
• Digital onboarding: Streamlined account opening and e-KYC processes, leveraging biometric authentication.
• Personalisation: Dynamic content delivery and targeted marketing campaigns based on user preferences, behaviours, and demographics.

• Analytics and reporting: Actionable insights into customer behaviour, transaction patterns, and product performance, facilitating data-driven decision-making.
• Security and compliance: Robust authentication, authorisation, and encryption mechanisms to safeguard sensitive information and ensure regulatory compliance.
• NETinfo self-service tools provide to the bank the ability to introduce new digital banking functionality and services giving a go-to-market advantage to the bank.
• NETinfo through its partnership with cloud infrastructure providers (MS Azure, AWS and Google Cloud) offers Digital Banking Platform as a Service (DBPaaS) allowing the bank to focus on its business.”

What do you see as the biggest challenge facing the banking sector and how do you as NETinfo help financial institutions address it?

“One of the biggest challenges facing the banking sector is the need to adapt to rapidly evolving customer expectations and competitive pressures in the digital age. As consumers increasingly demand frictionless, personalised, and accessible banking experiences, traditional financial institutions must embrace digital transformation to remain relevant and competitive. NETinfo helps institutions address this challenge by offering a modular and scalable digital banking platform that empowers them to innovate, differentiate, and optimise their digital offerings. Whether it’s accelerating time-to-market for new functionality and services, enhancing customer engagement and loyalty, or ensuring regulatory compliance and security, NETinfo provides the technology, expertise, and support needed to thrive in an ever-changing landscape.”

What future business opportunities do you see and where?

“Looking ahead, we envision several exciting business opportunities for NETinfo in collaboration with banks and financial institutions. Firstly, there is immense potential for further expansion and market penetration, particularly in emerging markets where digital adoption is rapidly accelerating. By offering innovative and accessible banking solutions tailored to local needs and preferences, banks and financial institutions can capture new customer segments and drive revenue growth. Additionally, there are opportunities for collaboration and partnership within the FinTech ecosystem, leveraging complementary technologies and expertise to deliver integrated solutions that address broader customer needs. Furthermore, advancements in artificial intelligence, machine learning, and blockchain present opportunities for enhancing automation, personalisation, and security across the banking value chain. By staying agile, adaptive, and customer-centric, NETinfo is well-positioned to capitalise on these future opportunities and shape the future of banking.”