The financial services industry has unique challenges that often prevent it from achieving its strategic goals. The keys to solving these issues are hidden in machine data—the largest category of big data—which is both untapped and full of potential.
Download this white paper to learn:
*How organizations can answer critical questions that have been impeding business success
*How the financial services industry can make great strides in security, compliance and IT
*Common machine data sources in financial services firms
Experience IBM Watson Order Optimizer
How can retailers efficiently leverage inventory from one channel to serve another without breaking the bank?
See how IBM Watson Order Optimizer helps Fulfillment, Operations, and Inventory:
Gain a holistic view of omni-channel operations across different functional areas
Optimize in real-time against multiple, competing business objectives
Utilize inventory at its most profitable price point
Make better fulfillment decisions with cognitive insights
Every financial services firm understands the importance of data. More is better. Sooner is better. Accessing it, understanding it, and taking advantage of it before the competition is better.
In the mid-2000s, Financial Services was the first industry to strongly adopt data virtualization as a disruptive, new technology for accessing and integrating more data, faster and more easily than ever before.
Buy and sell side groups at the largest institutions led the charge, followed soon after by risk management and compliance units. The leading mutual fund providers, along with hedge funds, led the next wave of adoption. In recent years, commercial banks and insurers have accelerated their use of data virtualization. And today, analyst firms such as Gartner, Inc. and Forrester project continued data virtualization adoption for both first-time use at new firms and expanded deployments at existing sites.
This whitepaper provides 10 examples of TIBCO Data Virtualization enabled application
The banking industry has been talking about improving the customer experience with customer-centric banking for a long time.
From a recent study of French retail banks, neobanks and online banks are winning the customer experience battle. To retain customers, traditional banks will need to improve their overall customer experience, a key priority as reported in DBR Research’s Digital Banking Report 2018. All three of the top trends for 2018 are related to improving the overall customer experience. Failing to address these key trends will hurt laggards.
Just because you have a digital presence doesn't mean your work is done, it just means that you need to continue to innovate to attract and retain your customer base. But what makes for a successful banking customer journey?
Read this solution brief to learn the five pillars of success for the banking customer journey.
Increasing your non-interest revenues without increasing customer fees that ultimately drive customers away can be a challenge.
The digital economy is opening up new ways to drive additional revenue from existing customers. The same technical innovations are also opening up new ways to communicate with customers about both digital and traditional offerings. But that results in customers becoming overwhelmed with advertising and marketing messages. They are forced to decide upfront who is providing relevant information and who to completely ignore. Ultimately, it comes down to trust.
Customers consider generic messages to be spam and learn to filter them out, even if they come from a known vendor. Over the long run, these types of marketing campaigns not only see diminishing returns, they can even damage your long-term relationship with customers and decrease revenues.
Micro-marketing overcomes the noise that traditional spam-marketing creates and establishes news levels of trust betwee
"Banking is going through a digital revolution.
Read the eBook and learn how DocuSign helps banks digitize both internal and external mission-critical processes to achieve:
• 80% faster cycle times
• 93% fewer errors and millions of dollars in savings and productivity gains
• 10% improved customer experience"
Published By: MuleSoft
Published Date: Jul 13, 2018
"IT teams across industries face growing pressure to deliver projects faster while reducing costs. All too often, dated legacy systems hinder IT’s ability to accomplish either of these objectives. Legacy systems can also slow the speed at which IT can deliver new projects to support the business. For these reasons, legacy modernization has emerged as a key strategic imperative. But where should organizations start? One large global bank provides a detailed blueprint for how large enterprises can do so.
Read this legacy modernization blueprint to learn:
-Best practices for modernizing legacy SOA web services
-How to think about re-architecting monolithic applications into microservices
-The role that APIs play in driving an effective legacy modernization strategy
-The bank’s legacy modernization strategy, and how they used Anypoint Platform"
The recent economic downturn has created some formidable challenges for the retail banking industry. Fraud and identify theft are on the rise, costing banks big money and raising customer concerns about security.
The response to possible bank card fraud is one of the most important factors affecting the relationship that customers have with their bank. For customer-centric financial institutions who issue millions of bank cards, any instance of possible fraud is both a business risk to be managed and an opportunity to strengthen customer relationships.
Digital transformation has arrived, and it’s creating unprecedented opportunities for companies of all sizes to become market leaders through the evolution of business processes and the creation of new products and services. Organizations that master digital transformation will see a dramatic increase in revenues and profitability by converging people, processes and technologies; those that do not will struggle to survive. Evidence of this is clear to see by looking at the churn in the biggest
companies in the world. For example, a Capgemini study found that since 2000, 52% of the Fortune 500 has disappeared through acquisitions or bankruptcies. The study also found that digital organizations control 70% of market share in all industries today. Therefore, making the shift to a digital business must be a top initiative for IT and business leaders.
Download this whitepaper to see how Cisco has become the Market Share Leader in Online Meetings.
When you choose Frontier as your partner, your bank or financial services firm can take advantage of this experience and our extensive portfolio of network and equipment solutions. We will work closely with your team to assess your current situation, determine future communications requirements, and select products and services that fit into your timeframe and budget. What’s more, Frontier backs everything up with local customer support.
First, today’s digitally oriented customers expect banks to provide an ever-higher quality experience defined by speed and the flexibility to conduct business across many channels. They’ve grown accustomed to going online and transferring money between accounts, for example, and using their mobile device to make payments and check their account balance. These kinds of experiences have raised the bar in terms of customer expectations – and banks need to keep up, or risk losing customers. This is particularly true of millennial customers, as they have little regard for loyalty, which banks have traditionally relied on to build their business. Once frustrated by inconvenience, they don’t hesitate to switch banks – and thanks to the internet, this is now a fast, painless process.
ANZ Bank chose VMware AirWatch® to securely manage the bank’s fleet of more than 18,000 mobile devices that are used in 34 countries. ANZ Bank uses AirWatch to manage bankers’ company-issued mobile devices, and to manage digital tools such as Apple® iPad® kiosks in bank branches. Learn more about VMware AirWatch solutions built specifically for the finance industry.
Case management frameworks built on business process management platforms help IT solutions architects deploy case-handling applications and offer an alternative to specialized case management applications and custom coding. According to Gartner, the complex architecture required to support case management has relegated it to the status of a niche application, typically addressed by specialist, commercial off-the-shelf application providers and system integrators. Case management as a process style is being applied in many sectors beyond government, legal and insurance, including healthcare, banking, higher education and retail. Industry and cross-industry case management frameworks are now available. "Adaptive case management" hype exceeds the reality of what buyers need. Gartner evaluated 12 vendors including Pegasystems against nine critical capabilities in four use cases.
Download this Gartner analysis and gain a better understanding of the case management frameworks solutions offe
Published By: DataStax
Published Date: Mar 10, 2017
Banks are at an inflection point. According to a recent research by Viacom, 1 in every 3 U.S. consumers are open to switching banks in the next 90 days. Financial services companies need to break through the competition to gain customer trust and loyalty. Building a 360° view of the customer can help banks grow customer retention and loyalty, upsell high margin products and provide compelling interactions. However, this is no easy task as complexity increases when retail banks engage their customers across multiple channels and financial products.
Gaining visibility into every customer interaction, across your business silos, and with every engagement channel is critical to making the right decisions to deliver amazing customer experiences. This white paper examines the challenges Financial Services Institutions (FSIs) face when building a 360° view of the customer to transform their customer experience and how to overcome them.
Published By: Microsoft
Published Date: May 04, 2017
Business Processes within the enterprise are becoming more and more driven by software systems. Booking flights for a trip or transferring money in a bank account, it’s usually software that makes it happen. Successful software development projects lead to valuable software that improves business processes within an enterprise. These software-based business processes can increase profitability and drive competitive advantage.
Adobe article that condenses/highlights key findings from the Econsultancy Digital Marketing in the Financial Services and Insurance
Sector 2017 Study, an in-depth, 5000+ word report covering FSI executives’ opinions on:
– General trends in retail banking, investment banking, and insurance
– Internal structures their companies are using to execute digital transformation
– The biggest threats/disruptions in the industry
– The biggest priorities in 2017 (leaders are focusing on both customer retention and customer acquisition, mainstream is focusing just
on customer retention)
– Main sources of sales and leads (digital + mobile are steadily increasing sources)
– Digital marketing budgets & investment areas (leaders are investing more in digital marketing automation and analytics)
– Use of the cloud and AI to automate analysis and marketing
– The importance of multichannel personalization
– Innovation in the types/formats of products/services provided (leaders are focusing on i
The CSI Companies consists of four entities plus affiliate Anteo Group that provide staffing and specialized services to meet a wide range of client needs. Since 1994, the Jacksonville, Floridabased company has offered staff augmentation services, executive search, and direct hire of people for clients in healthcare, financial services, banking, retail/hospitality, technology, and other industries. The company serves businesses nationwide from its headquarters and three regional offices.
Published By: Infosys
Published Date: May 30, 2018
In the wake of data hacks and privacy concerns, enterprises are working extra hard to make sure they secure customer data from external threats. But what about securing data internally? Organizations unknowingly leave a big security hole in their own systems when they fail to have structured internal processes to handle access requests for employees, which could have disastrous implications for data security.
A leading US bank sought to move its internal applications to a secure system for a standard and consistent access rights experience. See how Infosys helped and the five key takeaways from the project.
Credit Union Times is the nation's leading independent source for breaking news and analysis for credit union leaders. For more than 20 years, Credit Union Times has set the standard for editorial excellence and ethical, straight-forward reporting.