Organizations routinely launch ambitious change projects that are inevitably riddled with complexity. A digital transformation of the front-to-back customer experience, the introduction of a complex testing program impacting multiple systems, or a new regulation that requires legal entity restructuring, to name a few. Such immense projects can seem overwhelming given the various intricacies involved and the seemingly endless roadblocks.
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The Future of Loan Operations at Global Financial Institutions
Over the last 25 years, the wholesale lending market has seen a tremendous uptick in change, innovation, and growth within the global financial services sector. Once a straightforward business model of borrowing and lending (i.e., ‘traditional lending’), is now multifaceted. In today’s market, trillions of dollars in loans are underwritten, traded, and used for hedging purposes globally every year.
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The Rise of ESG: Preparing Financial Services Firms for a Transformational 2022
The past year has seen a pandemic of unprecedented proportions, increasingly frequent natural disasters, and immense social upheaval. In the last thirty days alone, a hurricane has decimated the coastal South, massive flash flooding has inundated the Northeast, and wildfires have continued to ravage the West Coast. While climate catastrophes have become commonplace, the unanticipated operational challenges posed by the COVID-19 crisis have taken the financial services industry by surprise, and it’s not the only major change that the financial sector has had to reckon with in recent months. The impending arrival of significant regulatory changes around climate risk, updated sustainability frameworks, and calls for social engagement have all thrown the importance of environmental, social, and governance (or ESG) considerations into sharp relief.
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Achieve Data Management Success through Data Quality
Digital transformation has gradually become a priority in the financial services industry over the past two decades, and business interruption due to the Covid-19 pandemic has served only to accelerate it. With digitization, data has become the backbone of the financial system. Financial institutions have put great focus on adapting data architecture and business strategies to the changing economic environment and to innovative technologies over the past few years.
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Plan Your Journey Towards Operational Excellence
Customer relationships and new models for innovation have taken center stage across the financial services landscape. As quickly as the pandemic spread, the focus shifted towards digitization and the ability to deliver a superior customer experience as consumer behaviors swayed with the uncertainty that has beleaguered the market. Operational Excellence has proven to be one approach that allows corporations to maximize efficiency, adapt to a shifting industry, and maintain competitive advantage.
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Mitigate Compliance Risks and Improve Internal Controls Using Natural Language Processing
Staying compliant with regulations is paramount to institutions and a top priority for C-suite executives. Financial institutions, in particular, are frequently under regulatory scrutiny from their jurisdictional regulators such as the Securities and Exchange Commission (SEC), Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and Federal Reserve Board (FRB) in the U.S. These regulators continue to reinforce core banking governance, risk management, capital adequacy and liquidity management regulations (i.e., Dodd-Frank) implemented in the wake of the global financial crisis in 2008.
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