Accelerating improvement and adaptability in banking operations
Modernising to compete in a changing market
Considering the amount of time and investment in banking technology over the past 20 years, financial applications and websites should be among the most user-friendly. However, this is often not the case. This report explores the reasons behind this and highlights strategies for improvement.
Banking application and customer interfaces are moving in the right direction but can still include slow client on-boarding, clunky user experiences and frequent prompts to “call us for further assistance.” Less visible to customers, at least for now, are difficulties in adopting new technologies like GenAI and advanced analytics. All of this creates vulnerability to new competitors, as well as to any incumbent firm that can get their technology right.
But why is so much effort resulting in comparatively little progress? And what are some firms doing to reverse the trend? Our latest report aims to answer some of the burning technology questions impacting the banking sector.
Key insights
Case studies outlined in our report include:
- SaaS for a Global Financial Leader
By migrating its technology stack to the cloud, a major global financial services firm significantly reduced operational overhead, improved regulatory compliance, and enhanced customer experience through a scalable SaaS platform provided by Fenergo.
- Brokerage modernisation
Dividing a large brokerage platform into manageable product families facilitated a successful modernisation effort, resulting in significant improvements in customer experience.
For more information on these case studies get in touch with our team.
Conclusion
Modernising banking operations requires a shift to agile, product-oriented development, supported by cloud infrastructure. Firms that embrace these changes, can enhance their responsiveness, improve customer satisfaction, and maintain a competitive edge.
For more detailed insights and strategies, download the full report.
