Financial institutions are navigating a rapidly evolving and ever-tumultuous environment. In the banking industry, for example, all eyes are on banking-as-a-service. For insurance providers, top challenges involve fraud detection and reporting claims. And for financial services companies, top priorities surround enhancing the customer experience, while reducing manual toil for both external customers and internal support personnel.

As financial institutions set out to solve these challenges on their own, they are often met with new hurdles: legacy systems that are difficult to access and don’t communicate well with other systems; dark data that is not usable in its current form or not captured anywhere; and poor application performance that manifests as poor end user experience — leading to dwindling customer satisfaction.

Digital transformation initiatives are continuing to take center stage; more than 70% of financial institutions are prioritizing digital transformation efforts in order to combat these acute challenges, while driving towards greater opportunity for tomorrow.

Through the advent of modern engineering solutions, advanced analytics, and emerging tech capability, financial institutions can greatly reduce risk, augment the customer journey, predict and stay ahead of future trends, and level the playing field when it comes to reach, service and scale.