On Monday, May 27th, Amazon hosted one of the most trending and important shows related to Cloud Services in Colombia. Such event was mainly organized to demonstrate the AWS Cloud Computing platform with the purpose of educating current and potential users about what Amazon’s platform has to offer. Many of the topics were focused on Serverless Architecture, Artificial Intelligence, Machine Learning, and Big Data. Valid had the great opportunity to share with more than 1,000 participants (at least 300 C-Suite) how Valid’s BEST (Banking Enablement Services & Technologies) solution works. Edwin Home, LATAM Solution Director, engaged the audience by explaining how Valid sees Digital Transformation in the Banking Industry and how financial services are moving towards the concept of ‘Open Banking’, which enables us to reinvent the way financial entities offer their products and services based on technological foundation.
In detail, Edwin explained the three pillars in which BEST is based (ID&V, Digital Payments, and Engagement) as well as our experiences implementing them in more than 100 APIs already deployed. “Today, we have identified our clients have three core challenges so as to adapt to the current digital transformation environments: New Digital – First Competitors, Basic Business Model Need to Change, and Journey Design Never Ends. The approach to face these challenges requires companies to change from comfort to the unknown, which implicates taking risks. Our value is particularly aligned to absorb those risks and replace them with ‘trust’, conceptually speaking.” – said Edwin. Valid is experiencing an internal change process from the traditional business model to digital transformation, from card manufacturing to open banking. All Valid’s know-how and years of experience allow its clients to offer a link between these two worlds, transforming risk into trust.
This event happened at the same time when Rappi and Davivienda, two highly recognized brands and entities in Colombia, published their alliance to allow more seamless financial transactions to their clients, a solution that is based on Valid’s modular financial service framework.