SaaScada offers banks a unique and more innovative approach to unlocking innovation. It provides a cloud-native, data-driven core banking service that uses modern, not legacy, technology and delivers real-time data and true product agility to banks.
“We solve the testing and development challenge by breaking everything into individual blocks within our platform,” Nelson explains. “We then allow customers to stack those blocks together to launch any kind of product.
“For any new product or feature that needs to go into the product engine, we create a block and simply add it to the platform. It takes two or three days and avoids significant testing time and cost.
Because core banking deployments for legacy core banking vendors can often run into multi-year projects, SaaScada is trialling a way of allowing customers to buy core banking as a service in much the same way a company uses an AWS or Azure service.
“It’s a much lower risk and more manageable way of transitioning your business,” Nelson says. “Otherwise, core banking replacement is akin to open heart surgery whilst the patient is walking around.”
Data and the future
Real-time data, a key part of SaaScada’s service offering, can also help banks to be more agile. “Unlike some, we process and store things like transactions as unstructured data, and there’s a real wealth of knowledge there as we move in the era of agentic AI, agentic banking and machine learning,” says Nelson.
