For most enterprises, digital transformation efforts mean delivering new business and customer value more quickly, and at a very large scale. The financial service industry is no different. However, as with other regulated industries, there are additional considerations to account for throughout a digital transformation. Security is critical to financial institutions’ success – customers rely on industry-leading security practices, regulatory bodies expect visibility and audibility, and modern data center teams require consistency and predictability.
For the financial service industry, digital technologies impact how customers interact with financial service organizations. For example, in banking there has been a shift from using traditional physical branches to instead completing tasks, such as cashing a check, using a Bank’s online and mobile applications. This means a bank’s customers can now complete banking tasks in minutes and from almost anywhere rather than having to take time out of their day to visit a physical branch. Financial service organizations differentiate themselves through engagements that provide speed and convenience while not sacrificing the trust, security, and integrity required to be a top global financial organization.
