E-book: Financial services – the smarter way to workflow
Leading financial institutions – from banks to insurance companies to wealth management firms – are embracing (and investing in) widespread change. The ultimate goal: shed operational rigidity and siloes to create a more nimble, intuitive, connected, and efficient organisation.
According to BDO’s “2019 Middle Market Digital Transformation Survey”, 97% of all financial institutions are in the middle of a digital transformation. But much of the industry’s digital transformation to date has focused on innovation through front-office engagement channels. While this is an important step in delivering consumer-grade experiences, it alone isn’t enough. Most of that experience (roughly 80%) lies in the middle and back office where servicing processes are still often disconnected.
Disjointed workflow technologies, fragmented legacy infrastructure, and manual processes impede the transformation toward coherent customer journeys. By connecting business operations front to back, financial institutions can accelerate transformation initiatives and deliver consistent, secure experiences.
CIOs and CTOs expect the forces driving digital fragmentation to intensify, requiring them to further reconsider their global business processes and talent strategies, according to Accenture. The fallout from a more fragmented operating environment will force them to make fundamental structural changes in key operational areas including global IT architectures and cybersecurity strategy and capabilities.
Read this free e-book to learn how to future-proof your financial services institution in an era of rapid transformation.