Digitization is everywhere. In fact, it has been since the last decade. If this is so, why is it that people are now talking more and more about this? For example, the banking and finance sector wants fully-automated and digitized solutions to serve their customers these days.
If digitization isn’t a new term, then why such a fuss?
The truth lies in the fact that regardless of the prevalence of technology solutions, people across the globe haven’t adopted them. It is now, posts the COVID-19 crisis that they are forced to embrace the change and do it quickly.
The coronavirus pandemic has disrupted the lives of all making the shift from being traditional to going digital, mandatory. Nearly every industry has been impacted and the banking sector is no exception.
Banking and the financial sector are rapidly embracing the digital platform to take the services online. Whether it is about opening an account to initiating a payment, transferring money or paying bills, everything today is accessible at your fingertip.
The banking industry is one of the most important sectors and requires a significant level of flexibility and agility. They must provide users with an extent of satisfaction. With the advancement in technologies, customers are looking for a transparent platform with the added ease of making transactions. And it is only when the industry migrates to digital channels can they meet the rising demands of the customers.
Now that you have an answer to why the banking industry needs to create an online presence, next, is how?
Though there is a multitude of platforms facilitating the creation of compelling web applications, the one that is most talked about is ASP.NET Core.
ASP.NET Core is an open-source web framework with unmapped capabilities of creating feature-rich web applications. As the banking industry advances towards the adoption of Fintech, it is important to gear up for the change and go mobile. The industry needs to have an online presence, one that can map the expectations of the customers while adhering to the requirements of the change.
And ASP.NET Core offers exactly the same. It has a modular approach and can work on all platforms irrespective of its operating system.
Are you skeptical about the choice of technology?
Here are a few features that will help you clear the clutter and understand why ASP.NET Core is the ideal fit.
The first and the most important feature of ASP.NET Core is the ability to run on all platforms. Whether you wish to target the Android platform or focus on the iOS, a web application, or a Linux feature, .NET Core will allow you to create an application that can run over all.
Read more: What’s new in .Net core 3.0?
Further, if you are planning to get an app developed, you can employ vibrant shades of technologies. Where the docker platform helps utilize the platform as a service, Microsoft Azure enables developers to take their applications to cloud, test and deploy.
With ASP.NET Core as the development platform for your application, API integrations become an easy task. Though one can always move ahead with the MVC framework, when looking to build technically sound applications with an excellent interface and guided features, ASP.NET Core leads the race. It allows developers to embed abstract classes and build exceptional web apps
Banking operations are sensitive and any interruption might lead to huge losses. Hence, it is important to be sure about the performance of the application. Another issue related to the banking applications is pertinent with the payment gateways as it needs seamless loading. This is where the concept of ASP.NET Core peeps in.
Known to build cost-cutting and performance rich applications, ASP.NET Core offers high-speed response rate, and the fact that it uses microservices, the functionality is far better than other frameworks.
Another fascinating feature is the push notifications passed on both the client-side and server-side at the same and in real-time. It allows bidirectional communication and promotes the transmission of asynchronous messages or updates to the client-side of the application.
Security is one of the long-standing concerns of the banking sector. Any mishap and one can lose millions of dollars and so, it is important to ensure that the adopted system is hack-free and security-proof. CSRF is a common form of cyberattack where the intruders gain access to vulnerable site-blocking further interactions.
Don’t worry, with ASP.NET Core, you will never have to worry about the same. ASP.NET MVC makes use of anti-forgery tokens to keep the intruders and the hackers away from the web application. These are also referred to as the request verification tokens, adding significant security within the application.
Building a solution is not just about technology but also about the team. No matter how robust the framework is, if not implemented in the right manner, it renders no benefit.
Stridely Solution is a leader in the domain. With strategically planned solutions and a laser-focused approach, we take pride in delivering mission-critical web applications for the banking and finance industry. We have a team of skilled developers and tech-savvy professionals who excel in building topnotch quality applications. We ensure an end to end integration, support, and development solutions helping you transform your business and embark on the journey of digital growth.
It is no doubt that the banking industry is undergoing a massive change and in order to sustain in the competition, it is imperative that they walk along with the change and embed the necessary solutions. Building web applications and shifting the services online is the best that can be done to scale growth. However, given the competition, the banking industry needs to be cautious about the type of application, features, and performance. And so, ASP.NET Core emerges to be the best fit.