As financial institutions grow, silos inevitably arise within banks’ IT infrastructure. Silos arise owing to organic growth or acquisitions, between business lines and within business lines. Data trapped in silos prevents banks from providing the customer-centric services necessary to succeed in the emerging financial services market. This white paper emphasizes on the importance of implementing unified banking platforms which can replace silos with integrated components that provide benefits to customers and throughout the institution.
The backoffice staff benefits from lower operational and maintenance costs. Marketers can reduce the time-to-market for new products, and increase cross-sell opportunities. Importantly, customers benefit from better service, with faster on-boarding, response time and deeper fulfilment. Read more.