News & Views - Savantor

New sources for solutions

Monday, 09 February 2015
More and more we are see financial institutions supporting - or outright running - competitions or events to try to identify and acquire new, innovative and beneficial ideas or technologies from an underutilised market - anyone interested in making a proposal. "Hackathons" and short-turnaround competitions are being used to attract new ideas (and more importantly, people that are able to formulate them) into finance in an attempt to energise an often slow-moving industry when it comes to technological evolution. Now it seems it is the turn of The Bank of England, which is looking at new ways to represent its historical archive of figures and statistics. Most of the time, the existence and results of these events don't make headline news - but they are becoming increasingly common as a broad acceptance comes over the industry that the relatively small pool of traditional providers cannot deliver innovation at the rate that new technology continues to become available. To be fair, trying to keep up with technology these days is always going to be a losing battle. Payments are evolving on many fronts from trying to expand the use of traditional payment instruments to inventing new payment methods and new currencies. However, this new tendency to look in new places for solutions may be of some concern to the existing players and therefore, ironically, the payments industry itself. As its key partners come under threat in other markets, there must be some unease with a potential risk to the long-term viability of the core platforms they provide. At the moment, this new trend seems confined to innovation in fringe areas of the market, but it is likely only a matter of time before it starts to be adopted in areas previously designated as a part of core processing capability.
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Client Quotes

Platform Selection

"Savantor's support in our platform selection process has enabled us to sustain our profitability and positioning for the future. Their advice and guidance was essential to our decision-making."

Robert Lambert, Head of Cards Strategy - Permanent tsb bank - Ireland

Credit Risk Review for New Product Launch

"We needed expert help at short notice and Savantor were very impressive in their response and knowledge. The results were very clear and useful, enabling us to quickly make good progress on the next steps."

Sami Karhunen, Head of Business Intelligence and SME Sales - Point Transaction Systems Oy - Finland

Issuer and Acquirer Transformation - Assessment and Mobilisation

"We were in urgent need of external independent expertise to supplement our internal resources. Senior consultants had to quickly integrate with a diverse team from across the bank and actively contribute. I am pleased to say that Savantor was able to deliver on our needs as well as being good people to do business with."

Lars Bostrom, Head of Cards - Nordea - Scandinavia

New Payments Initiative

"In moving our new initiative into reality, we required specialist payments knowledge and forward thinking in the retail sector. Savantor supplied this and provided very effective guidance throughout. We enjoyed working with them."

Sophie High, Head of Innovation Delivery - Cancer Research UK

Payments Workshop Material

"Savantor helped ACI build a payments onboarding workshop for new technical staff in ACI EMEA. Their extensive experience took our outline and built a great starting presentation of industry facts that we have now customised further into a half day session that is used for all new joiners. Our Americas and APAC regions have also taken the material and customised it for their regions. A great job by Savantor has meant new joiners to ACI hit the ground running."

Richard Sanders, Principal Solution Consultant - ACI - Worldwide EMEA

Business and Platform Strategy

"Savantor successfully advised Rabobank during preparing of the platform migration for cards. Savantor demonstrated thorough knowledge of business processes and market players combined with a practical approach."

Evert Fekkes, Business Information Manager - Rabobank - Nederland

Collections Transformation

"Savantor did an absolutely superb job for us on the Collections programme. The professionalism, hard work, courtesy and tenacity of their experts is a credit both to the individuals and to Savantor."

Peter O'Dea, Senior Manager - Collections Department - Permanent tsb bank - Ireland

Moneris Solutions

"Savantor did an outstanding job of the review and I received nothing but positive feedback on the interaction with our management team."

Jeff Guthri, COO - Moneris Solutions - Canada

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