Partner onboarding: Bank’s armour in bridging the gap in a digital first world

By Arindam Ray, Vice President – Central Engagement, Maveric Systems 

Traditional banks have long been known for their complex structures—different teams handling different aspects of banking, which often led to slow product launches and delayed customer onboarding. While this model may have worked in the past, it is no longer sustainable in today’s digital-first financial landscape. Banks now face increasing pressure from agile fintechs that can launch products in weeks rather than months, offering customers a faster and more seamless experience. This expectation forces banks to rethink their operational models, particularly how they onboard partners and integrate new services. 

The competitive gap between banks and fintechs isn’t just a technological issue—it’s a structural and strategic challenge. Many traditional banks rely on outdated legacy systems, making integration with third-party providers time-consuming and costly. Manual processes, regulatory complexities, and lack of interoperability hinder their ability ...