The financial services industry (FSI) is in the midst of a radical transformation. You're navigating rapid digital advancements, evolving customer expectations, and increasingly stringent regulations, forcing you to reimagine their roles, business models and processes.
Discover how, with the help of delaware, harnessing the power of technology can help you adapt to these new dynamics and futureproof your business.
From banks, insurance firms, credit unions, and asset management companies to real estate businesses: every player in the financial sector is grappling with similar challenges, including:
With new rules for (cyber)security and privacy (NIS2, DORA, …), ESG reporting, AI, and many more, the regulatory burden on financial institutions is skyrocketing. On top of that, legislation varies across regions, countries, and continents. Adhering to all the rules, laws and guidelines requires significant insights, effort, and resources.
Complex legacy systems, budget constraints, and security concerns hamper digital transformation in the financial sector. Moreover, the industry has long been constrained by European directives, which prevented them from implementing a cloud-based technology stack. Inspired by the success of fintech companies, the sector feels the pressure to digitally transform their operations and services.
Customers expect superior experiences from their financial service providers. Younger generations demand advanced digital services, while others appreciate a personalized approach. To retain customers and prevent them from switching suppliers, financial institutions must be highly attuned to their needs, offering customized services at competitive prices.
While consumers and financial service firms understand the benefits of technology, concerns regarding privacy and cybersecurity are on the rise. The financial sector, in particular, faces heightened vulnerability to cybercrime, with hackers continually finding new, more creative ways to breach systems.
A growing number of finance firms recognize their pivotal role in combating climate change. More than merely measuring and reducing financed emissions, they have the opportunity to support and accelerate the transition to a new, sustainable economy by financing companies and initiatives focused on sustainability and climate innovation.
Effective talent management is a critical success factor for financial institutions. Today’s banks, insurance companies, etc. may need to hire new tech talent or train their employees to become more tech-savvy, while ensuring they retain – or even enhance – their customer focus
Financial institutions that adopt cloud computing and new technologies will more easily deal with the challenges above and are more likely to prosper.
By optimizing their IT infrastructure and harnessing new technology, they will streamline operations, raise efficiency, and drive innovation. Technology can help to collect and manage data and perform in-depth data analysis in order to gain new insights into customer needs or comply with the latest legislation with ease. AI can help with fraud detection, while blockchain could help combat cybercrime. There’s even a growing range of solutions to calculate financed emissions and meet ESG standards.
More than in any other financial firm, swift, customized customer services and strict compliance – increasingly also in the field of ESG – is key for asset managers. delaware’s dedicated FSI portfolio includes solutions and services that help asset managers meet their unique challenges, including
At delaware, we help financial institutions prepare for the future of finance. Thanks to decades of expertise and experience in the financial services industry, we understand the market and know the trends, needs and the opportunities. These insights help us constantly finetune our offering to meet the exact needs of financial services providers.
Whether you’re looking for end-to-end support for your digital transformation, need help with data analytics, compliance, customer experience or sustainability management, our consultants can support you with advice, development, implementation and follow up.
We help our customers optimize and digitalize their processes and operations to ensure sustainable economic growthNathalie Caen, Data & IA Manager
Data & IA Manager
Connect with Nathalie on Linkedin
