Increasing customer expectations, ever changing regulations and rising competition are becoming powerful forces that are shaping banking industry. More than ever before, the fierce competition from Fintech innovations posing formidable challenges to the banking industry and it is now an imperative for the banks to pay close attention to these disruptive technologies that can transform themselves and prepare for the future.

The application portfolio in a bank continues to be in dynamic state with bespoke applications being developed, procurement of new off the shelf packages, existing applications being maintained, enhanced or migrated to meet the ever changing business which results heterogeneous mix of solutions with varied capabilities wherein some have sophisticated features. Though the approach worked for some time, the renewed demand on driving down the operational cost, meeting customer expectations and the need to meet regulations demanded latest technologies and new applications.

This is where the Pennant Technologies, a Hyderabad based software company made inroads into the market by offering the right-fit technology services and solutions. It has structured its offerings that enable financial institutions to leverage their existing systems and infrastructure while delivering the business capabilities. Pennant mastered the art of filling the gaps by developing and delivering the right-fit point based system which can be integrated with existing applications leveraging its thorough understanding of the ground level realities.

Pennant built niche products that address specific functional areas where the banks truly need flexibility and configurability to meet the dynamic business needs wherein the existing applications are unable to offer that flexibility.

“Whenever we walk into financial institutions to demonstrate our solutions, we earn their attention by precisely pinpointing the issues they are facing with their existing solutions and traditional designs. Our functional understanding coupled with technological skills helps us to address those pain points by conceptualizing an end-to-end solution by putting together various components, which are configurable,” explains Rama Krishna Raju, Director & CEO, Pennant Technologies. Firmly believing that a product should not be customized unless and until it’s unavoidable or when not able to deliver the business capability, Pennant verges more towards configuration than customization.