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Balazs Fejes

President Europe and APAC

EPAM Systems

Member since

17 Feb 2013

Location

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Balazs's opinions

Is Cash Obsolete? Preparing for a Potentially Cashless Future

On our blog, we write about solving the complex challenges that digital businesses face, but what about the challenges that continue to emerge from the rapid digitization of our society? These sets of challenges are often interconnected in many ways, and payments is a great example of where business and societal challenges intersect. After all, ho...

18 July 2018 /inclusion Futuristic Banking

How to Leverage GDPR Rules to Enable a Personalized User Experience

With the European General Data Protection Regulation (GDPR) finally coming into effect on May 25, 2018 after years of negotiation and preparation, financial services companies are facing a major challenge that goes beyond the consequences of a breach or the right to be forgotten. These are obviously major considerations given that they have been w...

19 June 2018 /regulation Data Protection Act Issues

Could Text Analytics be a Remedy to Optimize How You React to Major Market and Regulatory Changes

It’s no secret that the past decade has been rife with unprecedented challenges for financial services firms. With financial markets, technologies and regulatory requirements in a constant state of flux complicating everything from day-to-day operations to customer communications, it seems impossible to make any lasting progress. On the bright sid...

29 May 2018 /regulation Financial Services Regulation

Sci-Fi Realities: Embracing Quantum Computing’s Imminent Role

Something that was once considered science fiction is becoming a reality and, in turn, a monumental technology disruption. It’s no surprise that as the amount of data processed, analyzed and stored increases, so too will the need for more advanced computing. At their core, quantum computers are exceptional at solving many of the complex challenges ...

07 September 2017 /security Innovation in Financial Services

Where to Start with RPA in Financial Services

Financial institutions are only beginning to scratch the surface with Robotic Process Automation (RPA), and much of the technology’s potential remains untapped. This is not to say that financial institutions are ignoring how RPA could significantly increase business productivity – rather, most organizations are still fuzzy on how the technology ca...

01 August 2017 /retail Digital Banking Trends

Banks must think like technology companies to keep themselves relevant with their customers

The evolution of customer behavior is happening faster than firms can change their business models, processes, and technology. This is forcing organizations, including an increasing number of non-technology firms, to bolster their software expertise to keep up with customer demand and support the fact that greater proportions of their revenues are...

27 January 2015 /retail

Automation and Digitalization of the Wealth Management Space

There is no doubt that digital innovation has raised the bar in terms of customer experience and expectation across the banking industry. The increased popularity and adoption of social, digital and mobile channels has transformed the banking space, particularly in the corporate and retail sectors, and created an opportunity to provide a broader, ...

10 December 2014 /retail

Digital transformation in corporate banking

Never before has there been a more challenging time for banks to serve their corporate clients. The financial crisis pushed an envelope of change through the financial markets, as well as other industries, and provided a catalyst for radical reforms to regulation, technology, approaches to risk, internal operating models and internal client demand...

05 November 2014

Have banks come to the party too late?

Software is increasingly driving competitiveness in financial markets but have banks arrived at the party too late? The increased use of digital channels amongst consumers along with their changing needs and preferences has raised the bar on the levels of service that customers expect from their banks. Coupled with this, the numerous scandals that ...

01 September 2014 /retail

No More False Starts: Time For mPOS To Get Unified

The move to mobile point of sale (mobile POS) is radically changing the face of customer interactions and payments in certain sectors, particularly in retail, as both customers and merchants grow increasingly comfortable with the concept of mobile payments. According to a recent study from research firm IHL Group, mobile in retail is now a $7.8 b...

19 August 2014

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