Digitalization is a challenge for wealth management firms and will provide an inevitable change in the coming decade. It is an essential aspect of modern investors’ premium service to include high-quality digital tools. Wealth management firms are facing challenges such as addressing the threat of fintech challengers, measurable success metrics, KPIs, [...]
It’s an understatement to say that we live in a very different world than a couple of years ago. The pandemic has brought about extraordinary changes in the way customers consume goods. From online shopping for essential goods and services, e-commerce businesses to doing financial transactions instantly, there has [...]
Legacy banking systems are decades behind as digital advancements continue to disrupt the sector. Cloud computing has long since crossed the line from experimental to mainstream. The next question is how quickly companies should adopt and convert to cloud computing. The developments in adjacent technology markets include Digitalization, where 28% [...]
When Cloud computing started making inroads into the industry around 2010, financial services firms were skeptical about moving their applications to the Cloud. The common reasons cited were regulatory restrictions, security concerns, and loss of control etc. However, in 2021, the Cloud has become an integral part of the digital strategy of all financial services organizations. One Forbes study [...]
A reimagined and reshaped lending ecosystem can improve the experience of borrowers, reduce the loan processing time, and facilitate operational efficiency & transparency. Traditionally, a mortgage process takes an average of roughly 46 days for completion, costing the lending institution about $2000 to $2500 per loan. Not only is the [...]
Just like every other industry, technology is bringing fundamental changes to the financial services sector as well. With the help of next-gen, emerging technologies, we are looking at a future with faster, smarter, and efficient financial services that are highly customer-oriented. Statistics say that most customers switch banks as [...]
A well-functioning financial system drives a well-functional economy. The modern economy and the modern financial systems have technology as one of the most powerful driving force. Today, the Banking, Financial Services, and Insurance (BFSI) domain operates out of our smart devices. Online transactions have become the norm. Over the centuries, banks have evolved from [...]
Banking sector was one of the first to embark on a digital journey. With the goal of delivering convenient transactions to customers, banking industry never shied away from new technology and latest innovations. Facilitating door-step transactions and eliminating the need to physically visit a bank, the banking industry is [...]
A long-distance car ride needs a lot of prepping up before you even hit the road. Getting your fuel tanks filled up, checking the tires for tread and pressures, a look at the map from the starting point to the destination, maybe even identifying spots for refueling, making reservations [...]
Digitalization has moved from becoming a trend to becoming a basic necessity for organizations such as banks that need to deliver value at various levels within the information technology and digital eco-system. In such a scenario, the C-suite of banking sector needs to stay abreast of the trends and [...]
