Financial Services Industry is still in a period of deep and urgent transformation, led by a strong pressure on running costs in a very regulated market moving towards new technologies. To respond effectively, many institutions are moving away from the models of the past to build the future looking for more automation, risk mitigation and innovation.
Targeting operational excellence is a key objective to reach:
- Cost Efficiency: manual processing, breaks and irrelevant exceptions along the chains from distribution to production have not been totally eradicated. As side effects, it is inducing, among other, an incompressible level of operational risks coming from errors of execution and eventual customer dissatisfaction
- More controls: in general terms, monitoring models relying on quantitative and qualitative are incomplete to master for good business activities and operationsfrom front to end at Financial institutions. Indicators of Performance, quality, risks, compliance to ESG* are not fully covered at the good frequency and level of granularity
- Effective transformation of value chains: a non-negligeable part of the industry bears the burden of a huge legacy in terms of technologies making complex operating models based on intricate information system. This is strengthened by heavy costs of maintenance and a poor level of scalability preventing to have short release cycle