EP1024: Transformation is on the way

This interview features Karthik Sethuraman of audax Financial Technology discussing the urgent necessity for digital transformation within the global banking industry. He argues that traditional financial institutions must modernize to remain competitive, yet warns against the historical failure of massive, high-cost overhaul projects. Instead, he advocates for an incremental approach that allows banks to launch new digital products quickly without immediately dismantling their existing core infrastructure. The text highlights a strategic partnership with 10x Banking, which combines modern cloud-native systems with modular digital layers to streamline this evolution. By adopting these adaptable platforms, banks can effectively manage technical debt while staying responsive to shifting market demands and regulatory requirements. This shift represents a move toward agile business models like Banking-as-a-Service and super apps.