The financial services industry is evolving rapidly. Legacy systems, once celebrated for their stability and security, are now holding banks back – limiting innovation, flexibility, and growth. As fintech disruptors reshape the market and customer expectations soar, banks face mounting pressure to adapt and lead.
Cloud technology is already transforming the industry, but it’s not without its challenges. Banks must take a twofold approach: first, adapting their traditional IT infrastructure to the public cloud, and then leveraging that technology to transform their entire business, from core applications to lightweight, customer-facing ones. Alongside this, they must also navigate complex compliance requirements, safeguard vast amounts of sensitive data, ensure system resilience, and upskill their IT teams for the cloud era. These aren’t just technical hurdles; they’re the foundational steps shaping the future of banking.
Visa’s acquisition of Pismo addresses these challenges head-on. Ageing systems introduce operational risks, while fragmented data and limited IT talent make real-time insights and standout customer experiences nearly impossible. Pismo provides a way forward, helping financial institutions (FIs) leapfrog to cloud-native technology.
Why Pismo?
Pismo is a next-gen, cloud-native solution tailored to the demands of modern banking. Its highly flexible and scalable infrastructure supports core banking and payment processing, covering essentials like cards, demand deposit accounts, lending, and corporate banking.
But here’s the kicker: Pismo allows banks to modernise step-by-step, integrating seamlessly with existing systems to reduce operational risks and minimise disruptions. The result? Significantly reduced effort, time, and customer impact for FIs to unlock the benefits of a cloud-native core. With Pismo, FIs can innovate confidently and position themselves for long-term growth.
In our latest Visa Spotlight video, Kathleen Pierce-Gilmore, Visa’s Senior Vice President and Global Head of Issuing Solutions, joins Forrester’s Lee Sustar and Pismo’s CEO, Ricardo Josua, to unpack how cloud-native systems are driving innovation and mitigating risk.
Watch a teaser below, and the full video here to see how Pismo is shaping the future of banking.
