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The New Year is upon us, and with it come new challenges and opportunities for the Financial Services industry. The industry is currently experiencing unprecedented disruption from factors like new market entrants (FinTechs, InsurTechs), evolving regulatory changes, increasing incidents of cyber-crime, mandates to reduce costs and deliver efficiencies across the enterprise, and expectations to deliver better customer experiences, to name a few. Amplifying all of this is the ongoing problem of customer perception, and feelings of trust and loyalty towards traditional financial institutions: despite seeing a steady increase in customer trust in financial institutions over the last five years, according to the Edelman Trust Barometer, in 2018 this rise has stalled overall, with countries like the US experiencing a 20 point drop.
In light of these challenges, I’ve put together five tips for Financial Services Institutions (FSIs) to help you adapt to disruptions in the industry and be successful in 2019:
At OpenText™, we have products and solutions to address all the areas noted above and more, and we’ve love to work with you in 2019. We have been partnering with global financial institutions and insurance companies in their digital transformation journeys. In fact, 17 of the top 20 financial and insurance companies in the world use OpenText.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Nick Green Director at Purple Patch Broking Ltd
22 August
Oleg Stefanet Chief Risk Officer at payabl.
20 August
Venkatesh P Co-Founder and Director at Maveric Systems
19 August
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