Traditional financial service providers are feeling the effects of digitizaiton; plagued by complex legacy systems and processes, they lack the flexibility of the FinTech newcomers.
Some might jump to the conclusion that financial services are due for a complete makeover - but we know that the key to success is a balance of governance and innovation.
Like many other industries, digitization is changing the business model for the Financial Services sector. Although FinTech start-ups are making grand strides with their technology fueled solutions and excellent customer service, traditional organizations risk organizational turmoil and brand erosion if they take the tech-leap too abruptly.
For the veterans of the financial services industry, transitioning to the digital business model is not a question of if, but instead of when and how. In order to continue providing superior consumer satisfaction, veterans need to be cautious about their technology selections and roadmap, ensuring their decisions offer long-term scalability and flexibility in a fast-changing environment.
Financial services veterans must pair up with technology and business experts who not only understand their current business model, but offer a visionary approach to technical adaptation.
Balancing governance and innovation is paramount to the smooth transition of the veteran financial services organization into the age of digitization.
How can you achieve it?
The answer is simple: with a partner you can trust.
Serving global customers in the financial services sector and more than 1,000 clients globally, Techedge leverages technology to support your unique infrastructure, offers advisory on process optimization & improvement and is an expert in the area of financial services.
Our focus is in providing you the optimal balance of governance and innovation, to create value for your organization.
Simplify financial forecasts and position Treasury for success in their strategic role in the enterprise by utilizing one integrated system for finance and Treasury planning.
Our FIT finance solution is capable of reducing cashflow planning cycle times up to 92% and forecasts up to 90% accuracy. [Learn More]
Despite the fact that it does not have a physical front, your digital store is a store nonetheless.
When assessing what works and what does not, it is key to imagine how the most common issues in a digital store would compare in a physical store.