The pace of change in financial services is accelerating due to the growth in new digital channels, technological capabilities, and a growing array of vendors and financial institutions (FIs). No corner of financial services today is untouched by these shifts. As a result, there are now major growth opportunities. Financial organizations that can innovate and offer smarter, better, faster financial products and services that are contextually relevant to both consumers and business customers will achieve greater differentiation and revenue growth. The ability to rapidly innovate and iterate is fast becoming a competitive differentiator. However, the demand for innovation poses a significant resource management challenge, one made worse by FIs’ ongoing reliance on legacy architecture and an extremely competitive market for technical staff.
The Benefits Of Fintech Enablement
