Create more value for clients, improve security, and make the most of FinTech digital innovations.
FinTech has become something of a buzzword in recent years – are you making the most of it?
True of all sectors today in the Fourth Industrial Revolution is their need to adapt to meet expectations of increasingly tech savvy consumers; banking and finance is no different. Examples of this, identified by a PwC survey, include reduced foot traffic in physical stores yet increased expectations surrounding customer support availability; increasing competition from non-traditional companies who class themselves in tech rather than banking/ finance; and, rising regulatory pressures.
The answer? Digital banking and finance solutions. These include:
Through such digital measures, industry leaders can automate the lower-value added tasks, freeing up time and resources to create more value for clients. Similarly, investing in workplace technologies which allow for greater employee connection and communication means that incidents can be quickly escalated and resolved, unconfined by previous location-related limitations. Additionally, cloud-based and/or mobile solutions and access for consumers needs to be in place – this is firmly an expectation in today’s market, and consumers will certainly turn elsewhere if even user interface or chat bot functionality is not up to scratch.
While finance and banking has for a long time been an extremely traditional sector, those wishing to be top players must reconsider themselves as innovative tech companies too – like JPMorgan Chase did a few years ago. Adaptation to changing times and expectations is nothing less than essential for this sector, and digital transformation will very soon determine success or lack thereof.
Interested in customised digitalisation solutions for your Banking and Finance IT projects? 👋 Get in touch with our team today for a free, no-obligation consultation. There’s no hard sell – our services sell themselves – we’ll just talk through your specific needs and explain what we can do to assist you.
