Financial services organizations in the United Kingdom and Ireland are facing unprecedented challenges today: Increasing demands from customers and shareholders, intensifying pressures to drive continued cost efficiencies and ever greater regulatory requirements. To navigate these challenges, organizations should focus on creating and enabling a new ecosystem that unites and integrates the customer with digital and product-centric models.
For banks this step creates an opportunity to become a customer-centric Everyday Bank, for capital markets firms it can enable them to transform to a Digital Enabled Capital Markets model and for insurance firms it can lead to becoming a Connected Insurer. Each of these transformations brings the services of firms to the next level, and positions them to better fulfill their customers’ daily financial and non-financial life needs.
This evolution will enable banks to operate on a customer-centric model, capital markets organizations to restructure themselves and digitize their trading, wealth and asset management hubs, and insurance firms to create direct and multi-channel relationships with their customers—in each case by leveraging the full stack of cloud capabilities.