Trending now: Summer lovin’
Nothing is better than summertime. Nothing.
I love everything about summer. Lazy days at the pool, drive-in movies, s’mores and crushing on the most current Taylor Swift summer fling. From tan lines to impromptu cookouts and catching (and releasing unharmed) fireflies while relaxing to my summer playlist containing both “Summertime” musical classics by Kenny Chesney and The Fresh Prince respectively, summer is indisputably the best season.
But it’s not all pool parties and lemonade stands. Here are 3 financial services technology trends I am loving this summer:
- Digitalization
The drive to digital transformation has been led not only by mobile channel technology, but also by the conversion of paper documents to digital ones in both consumer-facing and back-office processes. Thus, the adoption of enterprise content management (ECM) and workflow management solutions is accelerating as financial institutions seek to simultaneously strip costs and processing time from transaction processing while also striving to improve the customer or member experience.
Financial institutions are also automating processes to comply with the rising tide of regulatory compliance, which has become more deeply intertwined with account opening and servicing processes.
- EFFS adoption
Financial institutions are taking back control over the use of unsanctioned tools in their organizations. And it’s about time. They are turning to enterprise file sync and share (EFSS) products that provide secure sharing while ensuring each organization retains ownership and control of information.
We all know secure file sharing is critical for today’s mobile workforce and to meet consumer expectations. However, if financial institutions don’t give their employees the tools they need to get their job done, they will find workarounds at the expense of security. And that’s not a good thing. That’s why you need to be proactive.
- Embracing the enterprise
Say goodbye to silos. That’s right, instead of buying more software, organizations are exploring more efficient ways to integrate their existing systems and reduce the mounting pressures on IT staff – including countless time-consuming upgrades.
As technology is evolving, requirements for new software solutions are also growing. And at the top of that list of requirements is a need for those solutions to span across institutions and be true enterprise software solutions. They also need to that have the ability to adapt and grow, while easily integrating with any core banking solution. The best solutions will help you do more with less by connecting your important systems and giving you a single place to store and manage information.
So, kick back when you can, download your favorite summertime song and let me know what trends you are loving this summer.
