EVOLUTION OF BANKING

The way forward
Technology solutions lie at the centre of effective delivery of business
strategy. The technological options are multifarious and it is often
challenging choosing between them, especially when seeking to
meet customer and business expectations as well as regulatory and
compliance obligations.
At the heart of whatever innovative solutions are selected, core business drivers
include:
• Meeting prudential responsibilities including providing for appropriate customer
disclosure and assessment, keeping accurate records and facilitating effective
product and service delivery.
• Protecting platforms and systems and customer and business information from
external threats.
• Leveraging customer and business data to improve customer experience and
grow portfolio performance.
Other challenges for all financial services institutions include managing customer
expectations against the continual drive to improve profitability.
Unlocking that potential competitive edge requires financial institutions to consider
the synergy benefits from system standardisation, AP interfaces that streamline
data exchange between otherwise incompatible systems and mining Big Data for
insights on tailoring products that increase revenue.
New financial service providers are challenging traditional providers to leverage
the possibilities brought by the digital evolution to work smarter, faster and better.
Institutions that are leveraging their customer data and turning it into relevant and
innovative products and services are being rewarded by greater levels of customer
satisfaction, and positive impacts on their business’ bottom line.
Experian brings a global depth of experience in assisting all organisations to meet
these and other core business objectives.