What We Do
The banking and financial industry is experiencing digital disruptions which had already transformed the way this sector works. Most of the tasks relating to banking and finance are done online with just a click or a tap using smart devices. The major concern that comes with such convenience is security. Secure and user-friendly applications are paramount to banking and finance.
We have a broad experience in web and mobile applications to implement reliable solutions that fulfill customers’ expectations and overcome the challenges of ever-changing regulatory norms and compliance standards in the banking industry.
We work with a range of web and software solutions to deliver robust and innovative IT solutions to banking and financial institutions. This includes Mobile applications, accounting software, wealth management systems, Blockchain applications, insurance management systems, analytics solutions, payment gateway/API systems, and stock trading software/applications.
Understanding the Challenges in Banking
The banking industry is undergoing a radical shift, one driven by new competition from Finance Techs, changing business models, mounting regulation and compliance pressures, and disruptive technologies. The emergence of Finance Techs and non-bank startups is changing the competitive landscape in financial services, forcing established institutions to rethink the way they do business.
Data breaches and privacy concerns have forced regulatory and compliance requirements to become more restrictive. Customer demands are evolving too as they seek round-the-clock personalized service. Today’s consumer expects a high degree of personalization and convenience out of their banking experience, and changing customer demographics play a major role in these heightened expectations. Investor expectations must be accounted for, as well. Annual profits are a significant concern because stakeholders need to know that they’ll receive a return on their investment and equity.
Organizations using antiquated business management applications or siloed systems need to keep up with this increasingly digital-first world. Without a solid, forward-thinking technological foundation, organizations risk missing out on critical business evolution.
Digital transformation is not just a good idea; it’s become imperative for survival. Yet the transition from legacy systems to innovative solutions is not self-evident.
Solving Your Banking Needs
With a series of high-profile breaches over the past few years, security is one of the leading banking industry challenges, as well as a major concern for bank customers. Financial institutions must invest in the latest technology-driven security measures to keep sensitive customers safe. Technologies like cloud computing, AI, and bots offer significant advantages for institutions looking to reduce costs while improving customer satisfaction and growing wallet share.
Financial organizations can use bots to deliver superior customer service and increase customer engagement without incurring additional costs. Cloud computing via software as a service and platform enable firms previously burdened with disparate legacy systems to simplify and standardize IT estates. In doing so, banks can reduce costs and improve data analytics all while leveraging leading-edge technologies.
AI offers a significant competitive advantage by providing deep insights into customer behaviors and needs, giving financial institutions the ability to sell the right product at the right time to the right customer. Additionally, AI can provide key organizational insights required to identify operational opportunities and maintain agility.
A bank’s mobile experience needs to be fast, easy to use, fully-featured, secure, and regularly updated to keep customers satisfied. Financial services customers expect personalized and meaningful experiences through simple and intuitive interfaces on any device, anywhere, and at any time. Technology is a critical component in creating this culture of compliance.
Technology that collects and mines data performs in-depth data analysis, and provides insightful reporting is especially valuable for identifying and minimizing compliance risk. Technology can help standardize processes, ensure procedures are followed correctly and consistently, and enables organizations to keep up with new regulatory and industry policy changes.
Why Work With Us?
With so many banking industry challenges to contend with, charting a clear path forward can seem like an overwhelming task. However, with the right team to support your efforts, digital transformation is attainable.
The financial services team at Ecommerce Maurice Victor has been helping banks and credit unions unlock digital experiences through the power of the Microsoft platform since 2014. We will craft impactful solutions for paramount customer experiences.
With a wide variety of products and services tailored to the financial services industry, such as engage for banking and retail banking sales insights, we’re familiar with the unique issues financial institutions face and have developed the technology to resolve them.
From data science expertise to business intelligence, AI and beyond, we are here to help your organization tackle banking industry challenges by embracing digital transformation.
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