By WalkingTree   May 19, 2020

Why Banks Need Microservices Post Covid-19

The Covid-19 pandemic has changed everything, even consumer behavior. Most of the financial services customers have moved digital but what about the remaining customers? How will you communicate? And how to accommodate the new normal consumer demand? 

The new normal refers to the touchless interaction, i.e no use of cash or even cards. Bankers are continuing to embrace the use of the cardless option, mostly QR codes, which eliminates the need to handle plastic. In this age of contactless banking, most of the banks have purchased a third-party application to support their banking system. Well, the end result usually ends up looking like any other bank application. 

Banking institutions should be looking out for microservices as well. Microservices are focused on specific tasks such as account access, cardless cash withdrawals, etc. Microservices can be easily integrated into an existing application without eliminating any existing investments. This means that banks do not have to change their systems or pay for any new data center. New use cases can be executed quickly. It is also suggested to move towards P2P transactions, wherein microservices can help bypass the conversations when sending money to other people. Read on

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