FinTech Connects… with Wiktor Walc, Chief Technology Officer, CKEditor 5
How do you see the UX evolving for financial institutions?
It should become more client-centric instead of purely sales-oriented. And this is also the trend we are following while designing our products. We lay stress on accessible solutions that meet the demands of different audiences.
Talking about digital transformation in financial services, what do you see as the top 3 trends in this space over the next 12-18 months?
Mobile banking. AI-powered applications. Further digitization of internal processes, such as document management workflow.
Can you let readers, who might be unaware of who CKSource are, what do you do?
We deliver rich text editing solutions similar to Google Docs, Dropbox Paper or Microsoft Word but with one essential difference: you can integrate our solutions with your own application and host them on your server.
What problems do your core products seek to solve?
In many organizations an archaic document management workflow still prevails. You create a document in an external application such as Word and send it over to others by email. With our solution you get an equivalent to Word right within your application. Plus your users can track changes, add comments and collaborate with one another in real time. This saves time, lowers the costs and makes the whole process more productive.
What was the inspiration behind your founder, Frederico Knabben, developing the CKEditor?
At that time, 16 years ago, Fred was trying to find a rich text editor that could be integrated with a CMS he was responsible for. He had done a thorough market research and concluded there were no quality solutions available. “Okay, then I will just try to create it myself,'' he thought, and CKEditor was born. Today we are a market leader with a team of 30+ engineers and a 13-year record of supporting Fortune 500 organizations.
How is your product suited to financial services?
Content creation is essential for many of the applications banks and financial institutions use, let this be credit scoring, risk management, legal contract management, idea management, customer communication or CMSes. We provide high-quality software components to optimize the process of content creation in the most efficient way.
Also, we know that security is a top priority for our banking clients. Hence, we offer them an on-premises solution so that they have full control over their data which is stored on their servers.
How do you decide what products to build and develop next, what are your processes?
Our product development, sales, and customer success teams work closely with clients and gather their essential feature needs. We also receive a lot of requests and ideas from our community. This helps us address all the needs and make the correct improvements. Delivering new functionality takes us usually up to 3 months
You have worked very closely with Citibank, integrating CKEditor into their internal HTML Article Management System. What can you tell us about this?
We had a dedicated team fully focused on the project as they needed super-fast response times to keep the project on track. However, due to the nature of the contract, we cannot disclose details. Our editing solutions are also used by other big companies from the financial sector such as JP Morgan Chase, Federal Reserve Bank, Paycom or Fidelity Investments.