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March 14, 2022 • Issue 22:03:01

Journey to the center of commerce

to meeting customer expectations and powering
financial performance across revenue, costs and
capital.
• Unlocking the value of data and AI: Transform-
ing the core data environment drives efficiency and
flexibility and leverages the collaborative use of
deep analytics and AI at scale. This includes build-
ing an ethical framework around how data is cap-
tured, stored and used.
• Flexible technology architecture: A modern archi-
tecture delivers optimal interoperability and porta-
bility to support the deployment and management
of workloads across multiple computing environ-
ments, while helping financial services organiza-
By Dale S. Laszig tions meet security and compliance requirements.

e've come a long way from auth and settle- A copy of IBM's report is available at www.ibm.com/thought-
ment. Hidden behind the many faces of leadership/institute-business-value/report/2022-banking-finan-
digital commerce are next-generation tech- cial-markets-outlook?
W nologies, platforms and APIs that facilitate Open organizations
real-time payments, virtual and fiat currencies, and net-
worked payments applications for physical, virtual and IBM researchers found banking-as-a-service (BaaS) and
hybrid environments. other new ecosystem architectures enable banks and finan-
cial institutions to quickly adapt to changing client needs,
Payment flows, buoyed by flexible, scalable infrastructures, Sironi noted.
have shifted from bidirectional to omnidirectional. And fi-
nancial technologies optimize transactions from point of "The open organization is based on technology architec-
entry to checkout. This article shares insights from pay- tures that facilitate blurring the dividing lines between in-
ments industry experts who shine a light on the commerce ternal business units and ecosystem partners in order to
journey from inside out, outside in, and from physical to
virtual perspectives.
Open architectures
Contributed articles inside by:
Paolo Sironi, banking and financial markets global re-
search leader at the IBM Institute for Business Value, refer- Tyler Kem .................................................................................................18
enced 2022 Global Outlook for Banking and Financial Markets, Elie Katz ....................................................................................................19
published by the institute in February 2022. He cited the
following takeaways from the study: Jeff Fortney .............................................................................................30
• Extreme digitization: End-to-end digitiza- Nikki Estes and Shubham Garg .......................................................32
tion of enterprise-wide operations enables new
customer-centric business models, new prod- Chad Otar ................................................................................................33
ucts and services, new ways of working, and TOC on page 3
an ecosystem of partners. Digitization is critical

Continued on page 26