Re-wiring financial services operations for a bold future
Massive change has been underway for some time across the industry. Fintechs disrupted tradition, introducing consumers to new ways to get the services they need. They taught the industry that access does not have to be a point of friction, changing consumers’ expectations about the speed and convenience of services. It ignited the flame to digitally transform how the industry conducts business.
Then, along came the unprecedented circumstances of recent events. The abrupt and widescale disruption to normal patterns of everyday life forced institutions to swiftly shift gears on multiple levels: finding new ways to interact with customers, enabling employees to securely work remotely, and delivering services that customers needed urgently. It put into clear focus how digital fragmentation and silos across the middle and back office are hindering change.