NS&I to deploy SBS' cloud-native core system
This initiative is part of NS&I's Transformation Programme, which includes a contract with Atos, a digital transformation company.
In this context, SBS cited a report by Celent, which forecasts that European retail banks will increase their cloud investments by 57.5% by 2030, reaching a total of $12.6bn.
NS&I's internal infrastructure supports more than 24 million customers and manages changes to savings rates while addressing customer interactions.
The implementation of SBS's digital, cloud-native core banking platform is expected to enhance operational efficiencies, as well as improve product and service delivery for NS&I.
SBS CEO Eric Bierry said: 'NS&I's transformation program is evidence that it is possible for banks to execute this transformation—and doing so sets them up to drive otherwise unattainable efficiencies and experiences.'
In collaboration with Atos, IBM, and Sopra Steria, NS&I is working to digitise its retail banking operations.
The new SBP Digital Core platform from SBS will replace the existing core system, providing a cloud-native infrastructure for all retail banking and payment services.
The SBP Digital Core is a cloud-native, composable banking solution that utilises latest technology and data to enable banks to deliver personalised banking experiences while adhering to regulatory standards.
Transitioning to the SBP Digital Core will allow NS&I to leverage the flexibility and scalability of AWS's cloud environment, facilitating frequent adjustments to data storage and infrastructure as required.
Unlike traditional core systems, which are often difficult to update, SBS's cloud and Software-as-a-Service (SaaS) solution provides regular automatic updates, according to the tech company.
NS&I chief operating officer Matt Smith said: 'NS&I's transformation programme will help to deliver the digital experiences that our customers expect, while still ensuring there is help and support for those who need it.'
The SBP Digital Core is part of a comprehensive suite of retail banking solutions offered by SBS.
These are utilised by more than 1,500 banks across Europe, the Middle East, and Africa.
"NS&I to deploy SBS' cloud-native core system" was originally created and published by Retail Banker International, a GlobalData owned brand.
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