Banking & Finance (BFSI)

So, make the decision to move forward. Commit your decision to paper, just to bring it into focus. Then, go for it!

Making a decision to do something this is the first step. We all know that nothing moves until someone makes a decision.

How to overcome the challenges of digital transformation in BFSI Sector

         The banking industry is undergoing a radical shift, one driven by new competition from FinTechs, changing business models, mounting regulation and compliance pressures, and disruptive technologies.

     The emergence of FinTech/non-bank startups is changing the competitive landscape in financial services, forcing traditional institutions to rethink the way they do business. As data breaches become prevalent and privacy concerns intensify, regulatory and compliance requirements become more restrictive as a result. And, if all of that wasn’t enough, customer demands are evolving as consumers seek round-the-clock personalized service.

 

Here are some of the major challenges facing by
  • Increasing Competition
  • Regulatory Compliance
  • Innovative Business Models
  • High Customer Expectations
  • Mobile Banking
  • Security of Digital Banking
  • Legacy Applications
How INNOVATIQ Solutions can drive out these Challenges from your Business:

       With so many challenges to contend with, creating a clear path forward can seem like an overwhelming task, with our team’s right Industry experience to support your digital transformation journey is attainable. Our services team at Innovatiq Solutions has been helping banks to transform to digital banking experiences through our various solutions such as RPA, ML, Digital Banking Solutions. With a wide variety of products and solutions tailored to the Financial Industry.

       From data science expertise to business intelligence, RPA, ML, AI and beyond, Innovatiq Solutions is here to help Banking Industry to tackle challenges and embrace digital transformation.

 

Cyber Security in Banking and Finance

       Data breaches involving financial service firms increased by 480% from 2017 to 2018. With each attack costing financial institutions millions, InnovativeSolutions are needed if we are to avoid a repeat of the cyber crimes.

       Innovatiq Solutions are here to protect financial services through various blockchain technology must be the foundation.Integrating with existing financial infrastructures poses some serious obstacles that must be overcome.

Big Data Use in Finance

       Big data provides both opportunities and obstacles for financial service providers. Tapping into social media, consumer databases, and even news feeds can help banks better serve their customers, while better protecting their own interests.

       But sorting through torrents of unstructured data for useful information is no small undertaking. It requires powerful data analytics technology if institutions are to reap a benefit.

       Innovatiq Solutions provides Big Data Analytics using AI and ML and RPA. Solves the challenges using the right technologies at the areas those addresses the business challenges of Financial Institutions.

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