Maintaining a strong customer experience is at the heart of every successful business, regardless of the particular industry. This is often the make-or-break factor in competitive differentiation and business growth.
Financial services companiesare no stranger to this challenge, as operational complexity is a major reason for what's regarded as a generally-poor level of service across the industry. Managers are committed to adopting business practices to streamline operations, but new regulations for obtaining information create additional road blocks. The majority of these organizations respond to a new guideline by adding additional business solutions or steps, each required to do one specific action. This may seem to satisfythe customer, but in reality, deploying multiple software solutions only serves as a band-aid until the next wave of regulations.
Financial services organizations that keep a leg up on the competition in this area recognize that regulation changes are endless and a modern approach to IT software design must be put in place. These service providers have deployed modern work platforms to build easily adaptable systems that can be modified to accommodate the requirements of new regulations, while allowing for a streamlined customer experience.
A modern work platform enables greater communication and collaboration than that of traditional IT systems, and quickly automates valuable work needing to be accomplished.Applicationsare created with drag and drop functionality and enforced business rules,resulting in a vastly improved customer experience that meets all levels of regulatory compliance. This user-friendly interface immediately delivers a modern workflow to users of existing legacy software and avoids juggling multiple systems, as all data and knowledge are housed in one centralized platform. With improved access to business-critical records, customers are able to take proper action towards ensuring financial goals and corporate success.
Financial service IT systems must have the flexibility to easily adapt to future regulations that companies may not see now, but need to be prepared for. Traditional IT software through multiple systems provides limited capabilities for financial companies looking toensure the best in customer service, and modern technologies need to be embraced as a uniform solution. The best way to comply in the uncertain world of financial regulations is to provide customers with a better way to work, provided by the benefits of a modern work platform.
Be sure to visit Appian's Financial Services page to learn more about process improvement for the industry and download the latest featured whitepaper for a deeper look into this discussion.
Mike Ingrisano
Media Relations Manager
