Enter your email Address

NebulaNebulaNebulaNebula
  • Products
  • Industries
    • Professional Services
    • Banking Industry
    • Manufacturing Industry
    • Retail Industry
  • About Us
  • Resources
  • Case Studies
  • Blog
  • Contact

Technology – the new normal for financial services firms

    Home AI Technology – the new normal for financial services firms
    NextPrevious

    Technology – the new normal for financial services firms

    By Nebula | AI, Banking, Cloud, Cloud Software, Digitalisation, Featured | 0 comment | 14 August, 2019 | 1

    According to Deloitte’s 2017 FSI Review, financial services firms are looking to leverage
    digital tools and IT to do more and to help them stay relevant into the future. So much so
    that the incorporation of these tools into the work these businesses do has become the
    “new normal”. In this same review, Yacin Mahieddine, FSI Consulting leader for Deloitte in
    Southeast Asia says: “By harnessing the power of disruptive technologies, financial services
    firms are boosting their risk management and compliance capabilities, as well as the quality
    of service they offer to clients, while dramatically reducing the required time, cost and
    effort”.

    Based on our experience working with businesses in this field, a little extra research, we’ve
    put together a list of six priorities for success in 2020, and beyond. They include:

    #1 Discover the “new normal”
    All businesses are now tech businesses. For financial services firms, this means that it’s time
    to start paying closer attention to their different hardware, software and storage technology
    needs. With this in mind, firms must be mindful of where they are when it comes to
    technology and digital transformation but also where they want to be in the future.
    Investments must be made in solutions that are able to support future growth. One of the
    best ways to ensure you’re geared for the “new normal” is by investing in
    future-focused strategies and IT infrastructure.

    #2 Simplify the old, embrace the new
    The financial firms that remain competitive will be those that carefully choose which legacy
    systems to decommission and which they plan to integrate with newer technologies. Not
    only do cloud-based platforms speed up time to market for financial firms, these tools also
    make it possible to automate manual tasks, which reduces costs and frees up your
    employees’ time to focus on more important things.

    #3 Focus on customer needs
    With markets being as cutthroat as they are, customer experience has become the key
    differentiator between one business and another. This entails being smarter about how to
    communicate with your customers and, also, how to keep your customer happy. Did you
    know that over 75% of global banks are allocating budget towards developing a more client-
    centric model? The financial institutions that understand their customers more will be those
    that guarantee future success.

    #4 Pay attention to cyber-security
    What we know about cyber attacks is that these crimes are becoming more sophisticated
    and financial firms – which hold huge amounts of incredibly holding sensitive data – are an
    obvious target. Mitigating these threats entails developing a cyber security roadmap that
    prevents exposure and investing in the tools needed to detect and curtail any anomalies that
    may put them at risk.

    #5 Find the right talent and skills
    You can have the best and most-advanced IT systems and strategies in place but if you don’t
    have the right people in place to use these systems and strategies, your investments won’t
    bear any fruit. Financial services firms must take the time to recruit and hire people with the
    skills they need. Where this isn’t possible, they can also consider partnering with
    technology-focused consultancies who have the expertise they require.

    Did you find this blog post interesting? Access more content like this by subscribing to our
    monthly newsletter below.

    No tags.

    Related Post

    • African Expansion – Crucial to the Strategic Growth of ICT Providers

      By Telecomspeak | 0 comment

      ICT service providers generally view an expansion into African countries, other than South Africa, as strategically important for their businesses. Well-established markets on the continent make this an obvious area of growth for major playersRead more

    • The Problem with Roaming: Why Mobile Data Roaming is So Expensive

      By Telecomspeak | 1 comment

      International mobile data roaming costs are increasingly becoming a problem all over the world. With difficult to understand policies and exorbitant fees, many travellers are coming home to some very steep phone bills. Mobile roamingRead more

    • Telkom’s future after a series of challenges

      By Telecomspeak | 0 comment

      Telkom has been going through a rough time of late, last week saw their share price hit a 10 year low when it slumped to R12.28 a share. This more than 40% fall is theRead more

    • Organisations require an innovative and flexible telecommunications market

      By Telecomspeak | 0 comment

      It goes without saying that all businesses, regardless of size, are dependent on effective and reliable telecommunications products and services. It is impossible to imagine how an organisation could function in today’s world without InformationRead more

    • Cloud Computing Considerations

      By Telecomspeak | 0 comment

      Much of today’s telecoms news is focused on cloud computing and the benefits that this technology offers to businesses. One of the greatest benefits that cloud computing is able to offer is to allow theRead more

    • Mobile on the Move

      By Telecomspeak | 0 comment

      A world without mobile technology is impossible to envisage. A world without constantly evolving mobile technology and mobile offerings has also become the norm. Mobile providers have to stay one step ahead of businesses andRead more

    • Considering Telecoms Costs

      By Telecomspeak | 0 comment

      One of the most crucial considerations made when choosing an ICT provider is how cost effective their solutions are. The initial investment must be realistic and affordable, and an organisation must be able to seeRead more

    • The Next Frontier: Enterprise ICT in Africa

      By Telecomspeak | 0 comment

      Enterprise Information and Communication Technology (ICT) is a significant part of any ICT service provider’s portfolio of services. ICT suppliers not only have to offer effective, innovative and reliable products and services, they must alsoRead more

    Leave a Comment

    Cancel reply

    You must be logged in to post a comment.

    NextPrevious

    Search

    Archive

    Recent Posts

    • Challenges and opportunities of multi-cloud
    • Technology Expense Management explained
    • Top skills finance professionals need in 2021 and beyond
    Follow @onenebula

    Like us on Facebook

    Nebula

    Contact Us

    Western Cape

    Email: ContactUs@nebula.co.za
    Tel: +2721 555 3227
    Address: 22 Park Lane, Century City, Cape Town, 7446

    Gauteng

    Email: ContactUs@nebula.co.za
    Tel: +2712 661 0400
    Address: Unit 1001, 1st floor, 267 West Street Building, 267 West Avenue, Centurion, 0157

    Recent Posts

    • Challenges and opportunities of multi-cloud
    • Technology Expense Management explained
    • Top skills finance professionals need in 2021 and beyond
    • INFOGRAPHIC: How retailers can use automation to stay competitive

    Pages

    • About Us
    • Blog
    • Careers
    • Case Studies
    • Consulting & Managed Services
    • Contact
    • Home
    • OneView
    • Pick n Pay Achieves Technology Optimisation Success with Nebula
    • Privacy Policy
    • Resources
    • Resources – dup
    Copyright 2020 OneNebula® | All Rights Reserved | 2004/011655/07
    • About Us
    • Products
    • Industries
      • Professional Services
      • Banking Industry
      • Manufacturing Industry
      • Retail Industry
    • Resources
    • Case Studies
    • Blog
    • Contact
    Nebula