- Purple Fabric is not a core banking software, nor is it Gen-AI.
- Core banking software is not the only product offered by them.
- Because banks have a whole “spaghetti mix” of different applications and architectures, they offer bolt-on products that integrate well on top of their existing architecture, without disrupting it. This helps to overcome the inertia that banks face while making these decisions.
- This increases their chances of a cross-sell, as they have a whole suite of products that cater to every kind of “business event”, as identified by the banks and their customers.
- Because this space is rapidly evolving, R&D investments are a mandatory requirement, the way in which these are funded are a differentiating factor, in this case, completely by cash on the balance sheet. The real risk would be not investing in R&D, think of traditional Indian IT services.
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