A digital banking platform (DBP) enables a bank to begin the transformational process of becoming a truly digital bank that is ecosystem-centric. A DBP also enables banks to achieve business optimization. However, that is not the end state. For banks seeking only business optimization as the goal of their digital banking strategy, a digital banking multichannel solution will meet those needs.
Gartner defines global retail core banking (GRCB) as a back‐office banking system that both processes daily transactions and posts updates to accounts and other financial records. Core banking systems (CBSs) typically include deposit, loan and credit processing capabilities with interfaces to general ledger systems and reporting tools. This Magic Quadrant assesses vendors on the multicurrency products they offer in support of the bank’s financial transaction management in the retail banking market.
Gartner defines multienterprise collaboration networks (MCNs) as solutions that support a community of trading partners of any tier and type that need to coordinate and execute on business processes extending across multiple enterprises. Gartner considers cloud-based MCNs to be a key technology to coordinate, orchestrate and automate an organization’s extended supply chain within the overall business ecosystem they operate in. The key capabilities of MCN solutions include three layers: Network representation and management, Application functions, Embedded analytics and intelligence.
Gartner defines robotic process automation (RPA) as the software to automate tasks within business and IT processes via software scripts that emulate human interaction with the application UI. RPA enables a manual task to be recorded or programmed into a software script, which users can develop by programming, or by using the RPA platform’s low-code and no-code GUIs. This script can then be deployed and executed into different runtimes. The runtime executable of the deployed script is referred to as a bot, or robot. RPA is used across numerous business functions for tactical task automation. Business and IT users can leverage RPA to: Move data in or out of application systems without human interaction (unattended automation). Scripts are designed to replicate the actions of a human interacting with those systems or documents, which usually do not have available APIs. The goal is to automate and complete a task successfully without human intervention. Typically, unattended automation is triggered by a system and bots executed on a server. Automate tasks with a human in the loop (attended automation). RPA can extract information from systems and related documents, shaping it and preparing it for consumption by a human at the point of need. Typically, attended automation is triggered by a human and bots executed on a local device.