{"id":15542,"date":"2020-11-25T14:41:12","date_gmt":"2020-11-25T14:41:12","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=15542"},"modified":"2020-11-25T14:41:12","modified_gmt":"2020-11-25T14:41:12","slug":"4-keys-for-successfully-moving-into-a-digital-financial-environment","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/4-keys-for-successfully-moving-into-a-digital-financial-environment\/","title":{"rendered":"4 keys for successfully moving into a digital financial environment"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">There has (rightfully) been a lot of talk this year about digitization in the financial sector, with the COVID-19 pandemic drastically accelerating the development and implementation of digital solutions in financial institutions. This has been somewhat of a challenge for financial institutions as they seek to balance the need for implementing these solutions quickly with risk and regulatory challenges as well as an understanding of which transformative solutions to pursue as a top priority. As financial institutions move boldly (or perhaps reluctantly) into this new digital environment, it is important that they keep these four key things in mind:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>The focus should be on redefining consumer experiences.<\/b><span style=\"font-weight: 400;\"> Financial institutions should look to co-create (with consumers) frequently and often in a proposition lifecycle, thereby ensuring consumer needs are kept at the forefront of new solutions.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Digital solutions should come from a mobile-first perspective. <\/b><span style=\"font-weight: 400;\">From contactless banking to account access, consumers expect product and service accessibility from portable devices and at a moment\u2019s notice.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Data strategies need to be clear.<\/b><span style=\"font-weight: 400;\"> Building new solutions means knowing what data you have, what data you need, what questions you need to ask of that data and how to interpret the answers. Centralizing existing datasets is key.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Selecting the right technology platforms is paramount.<\/b><span style=\"font-weight: 400;\"> When building new services into operations with extensive legacy processes and assets (and subject to high levels of regulatory scrutiny), choosing which platform(s) to use and how to use them is essential.<\/span><\/li>\n<\/ul>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-15542 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='2021 Predictions'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/2021-predictions\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/01\/e5820fe7-29a6-4280-a0b3-b525d170a0151-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15686\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15686'>\n\t\t\t\t2021 Predictions\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='3 ways for financial institutions to shift their focus to consumer value'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/3-ways-for-financial-institutions-to-shift-their-focus-to-consumer-value\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/06\/3-ways-for-financial-institutions-to-shift-their-focus-to-consumer-value-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13126\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13126'>\n\t\t\t\t3 ways for financial institutions to shift their focus to consumer value\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Chatbots \u2013 customer service that boosts data security and combats fraud'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/chatbots-customer-service-that-boosts-data-security-and-combats-fraud\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/11\/chatbots-customer-service-that-boosts-data-security-and-combats-fraud-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-14038\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-14038'>\n\t\t\t\tChatbots \u2013 customer service that boosts data security and combats fraud\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>There has (rightfully) been a lot of talk this year about digitization in the financial sector, with the COVID-19 pandemic drastically accelerating the development and implementation of digital solutions in financial institutions. This has been somewhat of a challenge for financial institutions as they seek to balance the need for implementing these solutions quickly with &hellip;<\/p>\n","protected":false},"author":12,"featured_media":15543,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,16],"tags":[],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15542"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=15542"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15542\/revisions"}],"predecessor-version":[{"id":15544,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15542\/revisions\/15544"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/15543"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=15542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=15542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=15542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}