IT Smart Systems' Strategic Shift: Fit For Future with Updated Business Directions
Author: Vlad Marinescu
Director, Business Development
Over the past few years, IT Smart Systems (ITSS) has consistently stayed ahead of the curve by anticipating and adapting to the ever-evolving digital landscape. With a keen eye on the unique needs of Europe and the Middle East, ITSS has strategically crafted its service offerings to align with the prevailing digitalization trends in these regions.
In 2022, we reached an important milestone: approximately 90% of our projects and delivery efforts are channeled around EU Financial Services.
With the desire of becoming a partner that can address consistently our clients’ business initiatives, we turned our strategy to the idea of "Bank in a Box".
Bank in a Box obviously is a broader and well-established concept, applicable to large Systems Integrators, with proven delivery capabilities, in transformational projects, covering multiple business areas of Banks.
I feel that you would like me to be more precise...:)
What are the directions we follow, and where ITSS shines?
Systems of Engagement - We build delightful digital channels to interact with their customers: Web/Mobile Banking, Digital Onboarding, Loan Origination, eCommerce, Finance Management (PMF), etc.
Business Logic & Automation - We ensure seamless integration, consolidation, and orchestration of all the business processes and applications in the back office. Although not so visible, these are vital for a unique and intuitive experience.
Open Banking & EU Regulation - the financial system is probably one of the most regulated areas within the European Union. Here, not only that we follow and translate these regulations in technical resolutions to our Clients, but perhaps more importantly, is that we are an active voice in EU Open Banking and Fintech forums.
Digital IT and ITSec - everything mentioned above needs to be strongly but naturally secured, right? This is where our team of super-heroes in IAM, CIAM, Biometrics, Passwordless, MFA, and eIDAS comes into play. Techy staff :)
Cloud Transformation - we strongly believe that the banking system will increasingly migrate to the Cloud. AWS, Google, or Azure, you name it! What’s your take on it?
What else we are doing behind the screens?
6. Innovation and Early Adopters - here we align in the Architects Hub (Guild) all our concerns and passion regarding emerging innovations and technology. We learn, evaluate, test, validate (including with clients), confirm, and decide.... watch out, it's baking in here!
7. Systems of Record (namely Core Banking) - probably the most challenging area, in my perspective. After the Front-End transformation explosion between 2018-2022, we see that right now we are in the middle of the API Layer/Middleware phase. Moreover, we believe that after 2025 there is going to come a time when the Core systems will transform banking completely. We are already investigating, rest assured!
So, these are the 7 directions through which we approach the market! Our own Seven Nation Army :)
What exactly do we do to energize, diversify, and above all be successful in the future?
IT Smart Systems has some champions customers and tech partnerships:
Backbase – BRD Groupe Société General, Cembra Switzerland, Nova Hrvaska Banka, Caixa Portugal, and others;
ForgeRock - Arab Bank Jordan, Fiserv UK, Hargreaves Lansdown, etc.;
IBM – Banca Transilvania, BCR - Erste, CEC Bank, Atlantic Grupa, Cora, Carrefour, and others.
Furthermore, over the past 12 months, IT Smart Systems has successfully forged valuable partnerships with the following companies, which we are proud to have on board:
RedHat AWS - here's our answer to the question above regarding the Cloud. Although open for debate, right?
PWC - ITSS has become part of the PWC PPP (Preferred Partnership Program) through which we will technologically support PWC initiatives in Europe.
FlowX - AI-powered Enterprise Application Modernisation Engine.
WiB - API security (behind gateway).
FireBlocks - decentralized finance and crypto assets.
Rivero - payments processing and Dispute Management
And because we all need closure, and a conclusion... I would say that IT Smart Systems is now Fit for Future! #FFF
Following these directions, we are thrilled to announce our brand-new updated website: https://www.itsmartsystems.eu. We have created a fresh, simple, and modern experience that showcases our 21 years of tech expertise, success stories, proud partnerships, innovative products, and cutting-edge technologies.
We warmly invite you to navigate it, so you get to know us, what we stand for, and what we are capable of.