It is vital for financial services companies to ensure the rapid implementation of new processes to meet speed-to-market, service quality and compliance requirements.
This has to be done against a background of increased complexity. Financial institutions today combine a wide range of product and service offerings, across banking, insurance and asset management. They operate in global and cross border markets. They have increasingly sophisticated and mobile customer bases. Increased regulatory vigilance and new corporate governance rules have the potential to add new layers of complexity and cost. And there continues to be consolidation, merger and acquisition in the sector.
For all these reasons the effective management of complexity and change is a key determinant of future success. Those who automate and streamline their operations most effectively will gain significant advantage. Integration is now more than ever the key to efficiency, enabling lower transaction costs and increased sales volumes. This is true for capital markets, for retail financial services, and for the corporate sector.