The Impact of Open Platforms and Modular Software Applications in the BFSI Sector
Introduction to Open Platforms and Modular Software Applications Introduction Imagine a world of banking or trading software. Imagine if each functionality in such software was designed, controlled, and managed by different entities, and not necessarily by one company that built the software. For example, imagine portfolio analysis being managed by one person or company, while […]
The Significance of a Unified Application for Diverse Roles in the Banking Sector
Introduction to Integrated Banking Applications The term “integrated banking” refers to the integration among different interface applications in banking at all touch points or customer interfaces with customized information. It involves concentration on diversified services like corporate banking, retail banking, treasury, securities, cards, trust, asset management, foreign investments, trade finance, fixed deposits, and so on. […]
Exploring the Business Value of Digital Onboarding and KYC in the Banking, Financial Services, and Insurance (BFSI) Sector
Introduction to Digital Onboarding and KYC This paper, “Exploring the Business Value of Digital Onboarding & KYC,” explores the business benefits of taking real-time KYC and digital onboarding solutions. It argues that one must have a user-centric approach to KYC in order to fully appreciate the strategy. It underscores the necessity of collaboration among IT, […]
The Role of Effective Customer Relationship Management (CRM) in the Customer Lifetime Value (CLV) of Banking and Financial Institutions
Introduction to Customer Relationship Management (CRM) and Customer Lifetime Value (CLV) Customer Lifetime Value (CLV) is a prediction of all the value a business will derive from the entire relationship with your customers. In a term, CLV is a metric that demonstrates how the customers have a relationship with business value over time. CLV indicates […]
Cubic Information Systems and Microsoft Dynamics 365 for BFSI
Introduction to Cubic Information Systems as a Microsoft Business Applications Partner Cubic Information Systems is a distinguished Microsoft Business Applications Partner with extensive experience in integrating technologies from various solution providers, including Microsoft. With a robust background spanning approximately 30 years in .NET, mobile, web, and cloud development, Cubic excels in delivering comprehensive software solutions. […]
Digital Transformation of Conventional Banking Industry
Introduction to Digital Transformation in Banking Recently, innovations related to digital transformation technologies include the ability to focus and refine recommendations, current and future customer behavior analysis and trends, improved products and services, and insightful smarter analytics, which have become ‘disruptive’ features of daily business operations. Advanced digital transformation technologies have become disruptive in various […]
The Role of CRM Applications in Customer Acquisitions for Consumer Finance, Microfinance, and Fintech Providers
Introduction to CRM Applications in Financial Services Recognizing the client’s needs and preferences and doing something to address them are crucial tasks in a for-profit business. Accordingly, a user-oriented approach, which pays a great deal of attention to the clients’ needs, the way clients would like to obtain services, how to keep and increase clients’ […]
Digital Only Banks and the Importance of Customer Voice
Introduction to Digital Only Banks Singapore became the first country to issue a Digital Banking license to virtual banks in 1999, and it was granted to 3 players. In November 2022, the doors opened with the first three Internet banks. Back in 2014, the Monetary Authority of Singapore (MAS) continued its noble effort in shaping […]
The Importance of Customer Voice in the Banking, Financial Services, and Insurance (BFSI) Sector
Introduction to the BFSI Sector In the present worldwide aggressive business, the fight for retaining consumers is fierce among the active entrants as well as the contemporary competitors. Companies, particularly those in the BFSI sector, are going out of their way to make sure that they maintain and continue their track record on client line […]
Enhancing User Loyalty Through Intuitive Complaints Management in the BFSI Sector
Introduction to User Loyalty and Complaints Management in BFSI Indeed, despite seeking to manage customer relationships, the industry in general does not possess a particularly good reputation for solving these complaints. Currently, many of the traditional providers are on a downhill track, characterized by gradually declining market shares, and mutual trust with the customer is […]