Digital technologies have revolutionized the banking industry, leading to a remarkable transformation and unprecedented convenience and accessibility for customers. With the ability to access banking services anywhere and anytime, the industry has become highly efficient and customer-centric.

Banks have been an essential part of the global economy for centuries. They have provided a variety of financial services. With the proliferation of digital technologies, the latest digital banking trends are mobile banking, Artificial Intelligence and chatbots, open banking, Cryptocurrency, and blockchain.

One such organization that is reshaping the industry and improving financial services for customers globally is Acute Informatics. It offers organizations the most advanced stage Platform Independent Core Banking Solution, making bank in a box a reality for small and medium-scale banks. The technology will match modern banking practices by helping banks easily connect their branches online.

"Bank in a Box" is one such option that enables the establishment and operation of a fully functional banking service in a simplified and efficient manner. A Bank in a Box solution typically includes key elements, such as Core Banking System, Compliance and Regulatory Framework, Channel Integration, Payment Solutions, Risk Management, Reporting and Analytics, and Customer Relationship Management (CRM). The solution is designed to help banks reduce the cost and time required to set up a complete banking system and enter the digital banking space.

Making it Viable for small & medium scale banks

Small and medium-scale banks must adapt to changing market dynamics, leverage technology, and focus on customer needs to remain competitive and viable in the banking industry. Several strategies can be implemented, such as Efficient Operations, Digital Transformation, Customer-Centric Approach, Product Diversification, Risk Management, Collaboration and Partnerships, Customer Education, Talent Development, Cost Optimization, and Community Engagement. Also, it helps in fast transactions, is less expensive, and is more secure.

Why we invested

Acute Informatics, an enterprise Digital Core Banking solution and IT Consulting company, plays a crucial role in uniting the right teams and assembling a cohesive group of experts to provide advanced digital finance solutions to a large user base worldwide. Bankai Ventures recognized its importance and has made significant investments in establishing a cutting-edge office dedicated to creating a Digital Core Banking Centre-of-Excellence (CoE) that will house more than 500+ employees from Acute Informatics. This CoE will effectively serve the requirements of over 120+ global customers, ensuring a high level of service and expertise in digital banking.

The acquisition will drive growth and success for the company, enabling us to expand our horizons and offer core banking solutions internationally. The acquisition will also provide exposure to cutting-edge technologies and advancements, which can provide long-term benefits as these technologies become more widely adopted. With the acquisition, Acute Informatics will be able to leverage Bankai Ventures’ expertise and resources to develop innovative digital banking solutions that meet the evolving needs of its customers. It will help them to stay competitive in the digital age and become a leading provider of digital banking solutions in the international market. Overall, the acquisition is a strategic move expected to benefit companies and their customers in the long run.

Conclusion

The banking industry's transformation through digital technologies has created a more seamless, convenient, and efficient banking experience for customers. Therefore, the banking suit by Bankai Ventures has improved the customer experience and enhanced internal banking operations. It helps banks and financial institutions offer contemporary banking services, facilitate online banking, and decrease infrastructural expenses.