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NEWS Change is in the air
IBS Journal brings you the highlights from Lendit USA 2017, which took place in New York during March
Senior Reporter Alex Hamilton
of cloud-based banking systems as more and more use cases crop up. In regions like the Americas especially, ac- cording to Mambu CEO and Co-Founder Eugene Danilkis, the reception has been warm.
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In Latin America and South America, Danilkis told IBS Journal at Lendit USA, there has been a real drive for change from the businesses themselves. A lot of regulators don’t really have a clear “go or no-go” opinion on the cloud but are open to dialogue and to understanding how the tech- nology can be leveraged.
“It’s a little bit of an educational process,” said Danilkis. “We often try to get involved in supporting our customers, who usually want to be in the cloud already but want to make sure that the regulators give them the green light.” Mambu has done this multiple times, including in the UK and Germany.
egulators are getting to grips with the idea
Some regulators can struggle with the idea of cloud, but only because no-one has really brought it to the table before. “They’ve heard about cloud because they’ve seen what other companies use. But when it comes to their space – banking and lending – no one has really put it on the table yet. When that happens they have to figure out what it is beyond what they normally see.” When the regulators understand the angle, they ask the pertinent searching questions – data risks, outage prob- lems, privacy and security. At the end of the day they are trying to ensure that new technologies and systems are secure.
Mambu utilises Amazon Web Services, and when asked if that brand name has helped get a foot in the door with some FIs, Danilkis said that the infrastructure provider has been more than helpful. “They have helped us quite a bit,” he commented. “[Amazon] is really trying to push
www.ibsintelligence.com © IBS Intelligence 2017
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