Like most vertical markets, today’s banks and financial institutions are dealing with the data deluge brought on by digital transformation. As customers’ demands for instant information access and a frictionless digital experience create new challenges, these companies are also being hit with traditional industry pressures including:
- Increased regulation
- Economic uncertainty
- The need for ever-increasing revenue and profit
- New competitors and vertical market entrants, such as fin-tech
- companies like Stripe and SoFi and retailers like Apple
Overcoming these challenges requires that organizations across the financial sector adopt business strategies and technologies that enable greater agility, speed, access and organization. Intelligent information management (IIM) solutions are already playing a vital role in addressing all these needs while also supporting legacy technology investments.
On the following pages, we explain ten ways IIM gives banks and financial services companies a competitive edge.