Is Your Financial Services Organisation Embracing Change?
New technology, new competitors, and a shifting digital landscape is placing increasing pressure on banking institutions to adapt and grow. Now, more than ever, it’s vital for your business to identify areas for improvement and come up with innovative solutions to achieve success.
Learn more about the challenges facing the financial services industry, and how Cortex can transform your business today:
Key Challenges for the Banking & Financial Services Industry
Evolving Customer Expectations
Customers now expect instant access, immediate responses, and demand rapid action.
Complex Fraud & Money Laundering
Fraud and money laundering operations continue to evolve with increasing complexity and banking providers must combat these.
Outdated Banking Experiences
People have changed the way they bank – such as in-person branches – and expert modern online and mobile banking experiences.
Increasing legislation, policies, and strict compliance are putting additional pressure on the industry.
Rising economic factors are leading to higher operating costs for banks.
Tougher Banking Regulations
Increasing legislation, policies, and strict compliance are putting additional pressure on the banking sector.
Legacy Technology & Procedures
Existing software, processes, and business infrastructure can be expensive to change or adapt.
Error-prone Manual Processes
High levels of data entry and manual tasks are exposing organisations to a risk of error.
New Disruptor Banks
Competitors and Fintech start-ups are bringing new innovations to the market which existing banking firms must compete with.
The adoption of digital technology and ways of working mean that the financial services industry needs to ensure they stay ahead of the curve.
Lack of Trust
Shaken trust and a lack of transparency in the industry has impacted brand credibility.
Embedded cultural behaviour and processes need modernising to improve their effectiveness.
Sustainability and Self-Sufficiency
The digital transformation of businesses needs to be sustainable and drive for self-sufficiency for businesses to succeed.
With so many competitors and products available on the market, client churn is increasing.
Mitigating Risk With a Digital Evolution Approach
Traditionally, the banking sector has adopted a risk mitigation approach, meaning businesses can be reluctant to embrace huge digital transformation projects. This hesitation leaves the market open to new disruptive competitors who have a versatile working model and can easily adopt new innovations. The solution? Focusing on small areas of your business to innovate. Embrace change without risk through a digital evolution methodology and scale your activity as you achieve results.
Use a Strategic Approach to Overcome Industry Challenges
At Cortex, we understand that realising your business outcomes requires more than just technical functionality. To achieve the success you need to identify your business challenges and prepare your organisation for the acceleration of automation.
What Benefits Can Intelligent Automation Bring to the BFSI?
Intelligent Automation capabilities can revolutionise the banking sector. Stand out from competitors, wow customers, and enjoy increased efficiency with the benefits our software can bring to your business. Support business growth with the advantages of intelligently automated operations:
- Fast ROI
- Delivering new products and services
- Agile operations
- High-velocity services
- Instantly accessible
- Instant value from legacy integrations
- Gaining efficiencies
- Increasing operational effectiveness
Meet Industry Challenges & Innovate With Cortex
Cortex’s Intelligent Automation software transforms banking and financial services companies with high velocity, service-centric processes. Our solution delivers high-end automation, digitalisation and orchestration to help your business achieve its goals.