Cloud native digital banking solutions have set new standards in the industry. New banking entities can now be set up in as little as twelve weeks – compared to years when using legacy technology. Analyst firm Quadrant knowledge solutions recognises GFT as a leader for digital banking solutions in a new report.
The analyst firm Quadrant Knowledge Solutions recognises GFT as a leader for digital banking services in a new SPARK MATRIX™ report. Leaders according to the SPARK MATRIX™ are defined by their Customer Impact and Service Excellence.
According to Pradnya Gugale, Analyst, Quadrant Knowledge Solutions, "GFT offers robust service capabilities, including digital onboarding, AML, KYC, transaction monitoring, end-to-end loan origination and loan processing, payment/e-payment, cards, wallets, core-banking systems, buy now, pay later, and more, through a unified solution titled BankLiteX. The solution enables rapid development and deployment of a cloud-based, digital banking entity and reduces the time to market new banking features. The solution also helps banks provide responsiveness, adopt a customer-centric approach, and lower the overall operational costs." "With its overall comprehensive services capabilities, unique customer value proposition, strong partnership ecosystem, ability to serve multiple use cases, comprehensive roadmap and vision, GFT has received strong ratings across the parameters of service excellence and customer impact, and the company has been positioned as a leader in the SPARK Matrix: Digital Banking Services, 2022," adds Pradnya.
“We have delivered one of the most innovative new digital banks: Mox in Hong Kong. Moreover, we are in the process of delivering Al Rajhi Bank Malaysia (ARBM) in Malaysia, as well as another digital bank in Singapore, both of which will go live this year,” said Alpesh Tailor, Group Head of Banking Solutions and Cloud at GFT. “The recognition from Quadrant Knowledge Solutions especially for our digital banking solution BankLiteX is a testament to GFT’s role as a leader in digital banking. We are seeing strong demand for this type of solution both from incumbents and neobanks alike – which is no surprise because they give banks much faster time to market, greater flexibility, and easy access to the latest technologies.”
The 2022 SPARK Matrix Digital Banking Services report including GFT's profile is available for download.