Kategoriak: All - innovation - disruption - compliance - risk

arabera Luo Luo 5 years ago

93

DT Virtual Summit - Strategic Initiatives in FSI

The financial services industry is undergoing significant transformation driven by evolving market needs and technological advancements. Traditional banks and insurance companies face the imperative to adapt or risk obsolescence.

DT Virtual Summit - Strategic Initiatives in FSI

DT Virtual Summit - Strategic Initiatives in FSI

Top FSI Investment Priority (Source: PwC 2020 Survey)

Emerging Markets
Asia-Pacific
New Product Development
R&D Innovation
Europe
The United States
Implementing New Technologies
Enhancing Customer Service
Regulatory Compliance

FSI at Risk and The Changing Market

Q: Where is the FSI being THREATENED? A: Tools, data analytics, new technologies and platforms.
Mortgage: Mortgage lending, digitization and financing platforms
Lending: Marketplace lending & alternative underwriting platforms
Remittance: International money transfer and tracking software
Crypto: Companies leveraging blockchain technologies for financial services
Wealth Management: Investment and wealth management platforms and analytics tools
RegTech: Audit, risk and regulatory compliance software
Captical Markets: Sales & trading, analysis and infrastructure tools for financial institutions
Personal Finance: Tools to manage bills and track personal and/or credit accounts
Insurance: Companies selling insurance digitally or providing data analytics and software for (re)insurers
Payments/Billing: Payment processing,card developers & subscription billing software tools
Because Banks and Insurance MUST change to meet the market needs or risk being replaced.
Competitors are much more than 5 years ago
Customers' needs are changing

Mapping MS Key Solutions

B&CM

Stragetic FSI Focus Areas

Core Banking, Open Banking and Payments
Financial Crime, Risk, and Cybersecurity
Future Banking Workforce
Customer Experience Orchestration
Intelligent Sales Advisors