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Bringing Innovation to Banking: A Journey Through Tech Fusion 2023
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Bringing Innovation to Banking: A Journey Through Tech Fusion 2023
Bringing Innovation to Banking: A Journey Through Tech Fusion 2023 1300 972 Exist Software Labs

Makati City, Philippines – In a dynamic fusion of technology and banking, Tech Fusion 2023 ignited sparks of innovation and ushered in a new era of financial technology last September 21, 2023. Hosted at the Microsoft Philippines Office in Makati, this exclusive event brought together prominent figures from the banking industry, top executives, and decision-makers to explore the transformative power of DevOps, Cloud Migration, and API Management. In collaboration with Crayon and Microsoft, Exist Software Labs, Inc. unveiled a world of possibilities for the BFSI (Banking, Financial Services, and Insurance) sector.

Charting a New Course

Tech Fusion 2023 was not just an event; it was a voyage into the heart of digitalization in banking. The journey explored three main areas:

  1. DevOps Dynamics: Time-to-Market Accelerations with Confidence

The first leg of the journey examined how DevOps practices can dramatically accelerate time-to-market for banking solutions while instilling confidence in the process. Attendees learned strategies to balance speed and quality, ensuring robust software delivery.

  1. New-Age Competition: Modern Infrastructure and Cloud-Native Architecture

In the second phase, the discussion revolved around modernizing infrastructure and embracing cloud-native architecture. Experts elaborated on the pivotal role of microservices, containerization, and serverless computing in building scalable and resilient banking applications.

  1. API Quest: Navigating the Infinite Possibilities of Banking Innovation

The final stretch explored the infinite possibilities of banking innovation through API Management. Attendees gained insights into how API technology simplifies banking transactions and integrates diverse applications into a unified platform, fostering financial inclusion and transparency.

Exist Awarded as Crayon’s Partner for Banking Solutions in the Tech Fusion 

The event commenced with a warm welcome from Willex Perez, Exist’s Co-founder & VP of Sales & Marketing. He expressed his enthusiasm for collaborating to enhance efficiency and satisfaction in banking through digitalization.

The highlight of the day was the official launch of Exist’s Digital Banking Solutions, known as the Exist Banking and Financial Services (EBFS) Business Unit. Jemelyn Ambrosio, BFS Business Unit Head, unveiled the digital banking roadmap, which depicted the evolution from traditional to digitally mature banks.

Following the presentation, Crayon Philippines recognized Exist Software Labs, Inc. as their primary partner in Banking Solutions in the Philippines. Carlos Sevilla, Crayon Philippines’ Channel Sales Director, presented this recognition to Exist.

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Panel Discussion

The heart of Tech Fusion 2023 beat within the panel discussions. Seasoned experts from diverse backgrounds shared their experiences and insights:

  • Randy Cabredo – Solutions Area Specialist for Azure, Microsoft
  • Chester Guerrero – Head of Production Security, Maya Philippines
  • Carlos Sevilla – Channel Sales Director, Crayon
  • Jonas Lim – Vice President of Technology, Exist Software Labs
  • Dennis De Vera – Director of Technical Services, Exist Software Labs

These panelists wove together their experiences and domain expertise to create a rich tapestry of knowledge. They delved into innovations and real-world implementations, answering participant questions and unraveling the intricate world of digitalization. The Tech Fusion event illuminated the path to a future-ready digital banking landscape through DevOps, Cloud Migration, and API Management.

While enjoying lunch, attendees seized the opportunity to network with technology experts and engage in enlightening conversations with fellow banking leaders. It was a moment to connect, share ideas, and envision a digitally transformed future for the BFSI sector.

Crayon’s Digital Transformation Insights

After the lunch break, Crayon’s Business Development Manager, Gab Villanueva, took the stage to share valuable insights on digital transformation. This added yet another layer of knowledge to the event, further enriching the participants’ understanding of how technology can drive financial institutions forward.

A Fusion of Knowledge, Innovation, and Fun

Tech Fusion 2023 was not just an event; it was an experience filled with knowledge, insights, fun, and new technologies. Banks across the Philippines can now leverage the wisdom shared during this event to embark on their own journeys of digital transformation, ultimately benefiting their customers and securing a competitive edge in the rapidly evolving BFSI landscape.

As the sun set on Tech Fusion 2023, the banking industry in the Philippines looked forward to a future illuminated by innovation, collaboration, and the limitless potential of technology.

Tech Fusion 2023: Shaping the Future of Banking, One Innovation at a Time

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DevOps. Java. Java Developer. Data Solutions. Data Solutions Provider Philippines
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Nine (9) Effective Ways DevOps Minimizes Technical Debt
Nine (9) Effective Ways DevOps Minimizes Technical Debt 650 486 Exist Software Labs

DevOps is an amalgamation of philosophies, practices, and tools that addresses numerous developmental and operational challenges an organization faces, one of which is dealing with ‘technical debt’.

Technical Debt is accrued when less-than-ideal coding and design decisions are made – in order to get what the team requires now or if there is a need to go into production sooner.

TEST IN THE EARLY STAGES OF SOFTWARE DEVELOPMENT

This is a key DevOps Practice, to test early in the Software Development Lifecycle (SDLC), testing early is also known as “Shift-Left Testing”. It assists in finding and preventing errors from the early stages of the delivery process. It includes code coverage analysis, static code analysis, unit tests, as well as other code-level practices to catch errors at the earliest time possible where they cost the least to fix.

IDENTIFY AND RESOLVE MAJOR PROBLEMS FIRST

The DevOps Lifecycle has lean, short feedback cycles and faster iterations due to the enhanced level of collaboration between teams. This results in not having to wait until the next feature release to get a fix for bugs, security vulnerabilities, and usability issues, in addition, major complications that can affect users or operations are fixed instantaneously.

The process can be optimized further by defining a ranking for problems from low to high priority to help in deciding which issues should be attended to first. The team should be focus on solving these major problems first and not leave anything for a later time down the line.

CREATE IMPROVED COLLABORATION BETWEEN THE DEVELOPMENT AND OPERATION TEAMS

A possible reason for incurring technical debt or “code debt” is because development teams, regardless of how reluctant they are, may be forced into taking shortcuts to deliver on tight deadlines combined with struggling with constant changes or requirements. However, improving the collaboration between the Development and Operations teams can shorten the SDLC, and enable quicker deployments, in addition to increasing their overall frequency.

Continuous Integration/Continuous Deployment and Continuous Testing can make it easier for teams to navigate and deal with changes. In general, cultivating a collaborative culture inspires code reviews, good coding practices, and robust testing with mutual help.

HIGHLIGHT MORE AUTOMATION

In automating tedious time-consuming tasks, and others that prove to be more prone to errors, your teams will be granted more time to repay technical debt. Additionally, automation that is rooted in CI/CD, in terms of automated testing and building, and Infrastructure as Code (IaC) supports in recognizing debt earlier and facilitates continuous debt repayment. It also enforces code quality standards – hence, automation can reduce existing technical debt while also preventing any future debt.

MANAGE TECHNICAL DEBT

DevOps makes it easier to control and manage technical debt continuously. It empowers constant communication, allowing teams to track debt, incite awareness and resolve it as soon as possible. The appointed team leaders can also include a review of the technical debt into backlog and schedule maintenance sprints to deal with it promptly. DevOps also reduces the likeliness of having incomplete or deferred tasks in the backlog, further helping prevent incurring any additional debt.

CULTIVATE A DEVOPS CULTURE

In managing technical debt over long periods, a proper DevOps Culture will be the key. As we’ve said a number of times over, it encourages strong collaboration between cross-functional teams, provides autonomy and ownership, and practices continuous feedback and improvement. It’s a truly efficient platform in calculating and tracking technical debt whilst communicating it to other teams. A DevOps Culture can also be used as a way to educate and inform developers of the kind of codes that may introduce bugs and raise code quality.

DEFINE YOUR DEVOPS STANDARDS

A well-defined DevOps Standards will allow you to create quality gates for every code check-in before running tests and deployment. It saves your teams from repetitive, prone-to-error tasks while optimizing their development efforts. In enforcing certain DevOps Standards, it can also prevent your teams from cutting corners in the process, which is the major contributor to technical debt, thus, implementing exact DevOps Standards can maintain a high level of productivity and quality while ensuring excellent team morale and indirectly saving money for your organization.

SMOOTHER DEPLOYMENT PROCESS

You should consider utilizing containers to make deployments easier, containers are lightweight and portable and can simplify application development and deployment. A container orchestration tool like Kubernetes, automates container lifecycle in production, allowing your teams to focus on high-value tasks of refactoring apps. or lowering code debt.

APPLICATION PROGRAMMING INTERFACE (API) FIRST MODEL

The way application components communicate with one another is also critical in addressing technical debt, which can also be caused by different systems accessing services and data in ways that are unexpected to the team. If you implement APIs, it can make the interfaces more visible and increases the resilience of communications, due to bad links between different applications, an API-based model permits teams to make changes quickly without affecting the existing structure. In addition, any team that interacts with the service in question at a later date has a clearly defined set of expectations, as a result of this, it’ll be easier to roll out any changes/features with less technical debt.

Are you ready to make the most of your data to set your company up for success? Let Exist Software Labs, Inc. help you start your Data Maturity Journey today!

Bringing Innovation to Banking: A Journey Through Tech Fusion 2023
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Accelerating Banking Digitalization: Insights and Innovations from the Humanized Banking CIO Roundtable 2023
Accelerating Banking Digitalization: Insights and Innovations from the Humanized Banking CIO Roundtable 2023 1300 972 Exist Software Labs

On June 22, 2023, banking leaders, technology experts, and decision-makers converged at the Grand Hyatt, BGC for a momentous event — CIO Roundtable Humanized Banking: Building Brand Loyalty Through Security and Seamless Banking. This exclusive gathering aimed to drive humanized experience of digitalization in the banking industry. Throughout the event, industry experts, including Exist Software Labs, Inc., shared their insights and experiences, emphasizing the role of innovative technologies like AI, YugabyteDB, and embedded finance in delivering exceptional customer experiences.

Kick-off and Welcome Remarks:

Jonas Lim, the Vice President for Engineering of Exist, set the stage for the roundtable with his thought-provoking welcome remarks. He delved into the significance of digitalization in the banking sector, highlighting the potential for technological advancements to revolutionize customer experiences and drive operational efficiency.

Jonas Lim speaking about humanized banking roundtable

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Engaging Insights and Use Cases from Top Banks:

Representatives from leading banks in the Philippines took the stage, sharing their experiences, challenges, and success stories in adopting digital banking solutions. With a focus on security, infrastructure, AI, automation, and seamless customer experiences, these industry leaders highlighted the vital role that technology experts like Exist  play in enabling transformation.

Sessions and Concluding Insights:

The roundtable comprised four insightful sessions, each shedding light on different aspects of humanized banking. In each session, Exist Technology Directors Jejomar Dimayuga and Dennis De Vera and YugabyteDB Head of Sales, Dennis Sze, together with Jonas Lim, provided comprehensive summaries and key takeaways.

Jejomar Dimayuga Exist Software Labs
Dennis De Vera Exist Technology Director
Dennis Sze from Yugabyte

One session that stood out was Session 3, which revolved around enabling borderless digital customer engagements through data compliance. YugabyteDB, an open-source database, took center stage during this session, showcasing its capabilities in ensuring robust and scalable infrastructure to support seamless customer experiences and scalable databases. Dennis Sze’s expert explanations and insights further enriched the discussion.

The CIO Roundtable witnessed a distinguished gathering of banking leaders, with representatives from renowned institutions such as:

  1. Robinsons Bank
  2. PBCOM
  3. CTBC
  4. Philippine National Bank
  5. BPI
  6. Maya Philippines, Inc.
  7. Standard Chartered Bank
  8. UnionBank of the Philippines
  9. CIMB Bank Philippines
  10. FWD Philippines
  11. Eastwest Bank
  12. Metrobank
  13. DICT
Top PH Bank Leaders attended the Exist Software Labs CIO Roundtable

Looking Ahead:

The Humanized Banking CIO Roundtable served as a catalyst for accelerating digital transformation within the banking industry. By embracing cutting-edge technologies like embedded finance, AI, database modernization and many more digital banking solutions from Exist and Yugabyte, banks can become well-positioned to deliver personalized experiences, enhance security measures, and drive rational efficiency.

Exist Software Labs, Inc., as a leading digital banking solutions provider, remains committed to enabling the industry’s evolution towards humanized banking. Through its expertise in Mobile Internet Banking, Accounts Onboarding, Loans Management System, APIM, and Corporate Internet Banking, Exist empowers banks to navigate the ever-changing landscape while fostering long-term customer loyalty and satisfaction.

As the event concluded, the participants left with valuable insights and a renewed commitment to harnessing technology to deliver exceptional banking experiences. The Humanized Banking CIO Roundtable marked a significant milestone in the journey towards secure, seamless, and customer-centric banking, and the collaborative efforts of all involved promise a brighter future for the industry.

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Exist Partners with Jumio to Secure Onboarding and Avoid Financial Fraud in the Philippines, Philippines
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Exist Partners with Jumio to Secure Onboarding and Avoid Financial Fraud in the Philippines
Exist Partners with Jumio to Secure Onboarding and Avoid Financial Fraud in the Philippines 1300 972 Exist Software Labs

In today’s digital age, financial institutions are increasingly moving their services online. However, with this comes the risk of fraud and identity theft, which can have severe consequences for both the financial institution and the consumer. This is where eKYC, fraud prevention, and identity verification come into play.

The Partnership Between Exist Software Labs, Inc. and Jumio

Exist Software Labs, Inc., a leading Java developer in the Philippines, and Jumio, a leading provider of end-to-end identity proofing, risk assessment and compliance solutions, have partnered to create a secure and automated online onboarding process for bank consumers in the Philippines. This partnership will allow financial institutions in the Philippines to offer a streamlined and secure onboarding experience for their customers.

“We are thrilled to partner with Exist Software to provide a complete biometric identity verification solution that helps financial institutions in the Philippines create a seamless, secure and innovative onboarding experience.” said Frederic Ho, Jumio VP of APAC.

Jumio’s solutions use artificial intelligence, machine learning and biometrics to verify the identity of individuals quickly and accurately. This will help financial institutions in the Philippines to comply with Know Your Customer (KYC) regulations and prevent fraud. Exist Software Labs will provide consultancy and cutting-edge products and services to support the integration of Jumio’s solutions into existing banking systems.

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How This Partnership Will Benefit Filipinos?

This partnership will benefit Filipinos by providing them with a more convenient and secure way to open and manage their bank accounts online. Since the pandemic, more and more people are turning to online banking services. This partnership will provide a way for Filipinos to access these services without compromising their personal information.

The automated onboarding process will also reduce the time it takes for customers to open a new account, making it more convenient for them. This will help increase financial inclusion in the Philippines, where many people still do not have access to traditional banking services.

“In Exist, we often use the tagline “There’s always a better way”. It’s specially exemplified by our partnership with Jumio.  Jumio’s technology solutions in the identity verification space together with Exist’s technology solution allow us to provide our BFS clients with a better and seamless onboarding experience that is both secure and innovative. We are excited and look forward to expanding this partnership further seeing how their technology can truly benefit the onboarding experience of the Philippine’s financial institutions.” said Jonas Lim, Exist VP of Engineering

Finally, this partnership will help prevent financial fraud, which is a significant problem in the Philippines. By implementing robust identity verification and fraud prevention measures, financial institutions can protect their customers from identity theft and other forms of fraud.

In conclusion, the partnership between Exist Software Labs and Jumio is an exciting development for the Philippines’ banking industry. By providing secure and automated onboarding processes, financial institutions can offer their customers a more convenient and secure way to access banking services online. This will help increase financial inclusion and prevent financial fraud, making it a win-win situation for everyone involved.

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