LONDON--(BUSINESS WIRE)--Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems brings to you comprehensive insights into the top four elements driving innovation in finance in its recent article.
What’s in it for you?
- Understand what it means to innovate in the new normal
- Gain insights into factors driving innovation in finance
- Gauge your capabilities and ability to innovate in a dynamic environment like BFSI
The biggest challenge for insurers today is leveraging technology to build and improve their business while maintaining an essential personal touch. We’ve got the right solutions to help you address such issues in the least possible time frame. Talk to our analytics experts to learn more.
The new digital economy is creating significant disruptions and new opportunities for businesses to thrive. Devising a digital strategy focused on solely achieving your business goals will not help you adapt and thrive in a dynamic environment. Such situations call for holistic strategies devised using new technologies and disruptive forces. Innovation in finance turns out to be the key to driving better outcomes with strategies that empower organizations to strategically adopt technologies, such as AI, cognitive analytics, and cloud. However, an end-to-end digital transformation can take place only if financial institutions proactively address challenges using the right approaches and technological frameworks. With leading financial organizations taking every possible measure to stay afloat, the question that needs to be answered is- How will the BFSI sector react to the current situation and prepare for its long-term implications? Analyzing the current scenario, and its implication on the digital economy, Quantzig's BFSI analytics experts suggest that businesses must respond quickly and set up action plans that focus on driving innovation in finance.
Innovation is not just the ‘need of the hour’ but crucial for you to drive profitable growth and success in the long-run. Request a FREE proposal to learn more about our capabilities and how we can help you innovate.
According to Quantzig’s BFSI analytics experts, “The BFSI industry has undergone a significant shift due to business model transformations, new technologies, and the changing regulatory landscape.”
4 Key Elements Driving Innovation in Finance
1: Platform Capabilities
With the complexities of business processes increasing with every passing day, banking firms are forced to expand their platform capabilities through the use of advanced platforms that help manage key business functions.
The ecosystem in banking comprises of the organization, the technology, the process, and the people associated with the organization. These factors are often interconnected to form a complex structure with interconnections.
3: Connector technologies
Connector technologies enable financial organizations to enhance process efficiency and integration. The benefits offered by connectors, including APIs and RSS, is that they help automate end-to-end business processes with minimal effort and resource usage.
The use of Cloud-based services and platforms enables banking firms to devise flexible strategies by providing a set of basic but essential infrastructure elements and capabilities.
Fortunately, new technologies have been proven to improve business efficiency and support a companies’ ability to drive better outcomes. Moreover, the transition of traditional business models into digitalized systems is helping businesses overcome functional silos, improve end-to-end visibility, collaboration, and efficiency.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal