Banking & Finance
Banking & Finance
As technology continues to mature, we’re all beginning to prioritize the quality of a Bank's & Financial Institution's digital infrastructure over its physical presence on the high street since the customer expectations have radically changed, the only proactive reaction from the financial institution's is to position the customer at the center of the relationship “Customer-Centric Approach”, connecting with customers at the time, place and channel of their choosing.
Unsurprisingly, younger people are fuelling this change in communication, as more than six in ten (61 per cent) 18-30 year olds are now demanding WhatsApp style customer service messaging from their bank, according to recent UK market studies. Furthermore, seven in ten (69 per cent) 18-30 year olds never call their financial services provider, while according to research done by UK-based company vouchercloud; one in six has never even visited their own bank branch.
At the end of March the British Bankers Association (BBA) announced that the number of transactions made through banks’ smartphone apps has doubled over the past year. This shift of preferences means banks are leaving traditional infrastructures behind and are focusing on what the next generation of digitally savvy customers wants. As customers turn to more sophisticated banking technology and more convenient money management services, having brick and mortar outlets isn’t nearly as important as it once was.
The banking and financial services industry in both developed and developing countries faces challenges and opportunities brought about by advances in technology. Within developed markets, the unrelenting pressure to introduce banking services built around each new generation of technology requires institutions to build competence, deployment, and maintenance capabilities for a myriad of rapidly evolving technologies. For banking and financial service businesses in developing markets, there is an increasing need to move quickly to capture rapidly changing market opportunities. These businesses require ready access to the latest technologies and industry best practices to achieve competitive operations, strong risk control and analysis, and proactive customer relationship management.
Banking and Financial Services has been one of our main focus areas. ARICSCOOPER & its partner strong presence & core expertise in the banking and finance sector enable us to consistently develop solutions and services to address the needs of Global banking and financial institutions.
Our team comprises of subject matter experts in banking and financial services including ex-bankers, investment, portfolio managers and finance industry specialists. Using this expertise we have also integrated the best practices in banking and finance with our products and technology solutions to deliver state of the art solutions. The products are designed to maximize usage and benefit both the client and their end users.
Our areas of expertise in banking includes Core banking, Retail banking, Investment Banking, Commercial banking, Online and Mobile Banking, Portfolio Management, Risk Management, Banking Regulatory and Compliance.
Our Strategic Partner has a strong established presence in United States of America, United Kingdom, Singapore, Malaysia, Dubai, France and having its Global Research Development Center at Chennai, India.