Digital in Financial Services: Overcome the Perfect Storm
Financial Services, these days perhaps more so than other industries, faces extreme challenges, starting with the status quo.
The perfect storm of digital-first consumers, at least some level of reliance on archaic systems, and strategies that just don’t work like they used to have institutions scrambling to keep pace, let alone stand out.
- Consumer expectations continually evolve.
- The bad guys continually get more sophisticated.
- Compliance regulations continually change.
So how can Financial Services institutions adjust?
How can they avoid becoming yesterday’s industry leaders?
How can they overcome the perfect storm?
In a word – Digital.
The common questions we hear are about this perfect storm are related to digital in financial services:
- What are expectations for digital enablement?
- How are organizations enabling more capabilities through digital channels?
- What are firms doing to ensure all related regulatory and compliance requirements are satisfied digitally?
Consumers have long relied on personal interactions with tellers or contact centers to help them through purchases or their service challenges and questions. Financial services firms have similarly relied on these frontline representatives and a host of support personnel to ensure the right processes are followed.
But as we push toward greater levels of digital self-service, many financial services firms are finding that the processes and supporting capabilities aren’t keeping pace. To keep up, firms are expanding size of oversight, compliance, legal, risk, and operations teams significantly. However, adding staff is not enough to solve the problem.
So, what is needed? A rethinking of what ‘digital’ means, and how to address it.
Join us on Thursday, September 24 at 11:00 AM U.S. EDT for a 60-minute educational webinar. Appian and the Corporate Executive Board (CEB) TowerGroup will share the five steps organizations are taking to overcome the perfect storm and elevate execution of compliance functions and customer-facing processes.
- Perspectives on banking and channel services supported by survey data channel transaction measurements.
- Key drivers and priorities for peers in financial institutions as they develop and execute on their channel integration efforts.
- Case studies of successful efforts to strengthen the compliance function while improving processes that impact digital experience.
To register, just click on the ridiculously large yellow button below.
I hope you’ll be able to join us!