What should established players of the financial sector do to stay competitive against fintechs?

LONDON, UNITED KINGDOM, July 5, 2022 /EINPresswire.com/ -- In two video interviews published on Business Reporter, Wizeline’s Founder and CEO, Bismarck Lepe, and Chief Business Officer, Javier Gagliardo, talk about the importance of implementing state-of-the-art digital technologies to enhance customer experience in the financial sector. While digital-native fintechs are positioned to do so leveraging AI, machine learning and data analytics, industry incumbents operating on legacy technologies face a greater challenge. Therefore, to stay in the game, traditional financial institutions need to recruit the right talent and adopt robust technology strategies to create user experiences on par with those offered by their new competitors.

Today, the customers of banks are looking for products and services that simplify the user experience and put them in control of their finances – enabling them to manage their money, make investments or apply for loans easily and securely how and when they want. In order to design and build easy-to-use applications that are personalized, secure and scalable, financial service providers must invest in the right technologies and find the best talent to support the transformation of digital technologies and processes.

The first step financial institutions must take on the path toward application modernization is move their compute, data processing and engineering into the cloud, which will allow them to utilize the power of AI and machine learning to make faster, data-driven decisions. Once in cloud, they can begin building user-centric applications and leverage AI and machine learning techniques to personalize the customer experiences. Banks can also save on operating costs, strengthen security and reduce risks with automated fraud detection and credit checking services.

To learn more about the recipe for a seamless customer experience, click here.

About Business Reporter

Business Reporter is an award-winning company producing supplements published in The Guardian and City AM, as well as content published on Business Reporter online hubs on Bloomberg.com, Independent.com, Business Insider Germany and Le Figaro, delivering news and analysis on issues affecting the international business community. It also hosts conferences, debates, breakfast meetings and exclusive summits.

www.business-reporter.co.uk

About Wizeline

Wizeline, a global technology services provider, builds high-quality digital products and platforms that accelerate time to market. They focus on measurable outcomes, partnering with their customers to modernize core technologies, mature data-driven capabilities, and improve user experience. Their adaptive teams provide the right combination of solutions, capabilities, and methodologies to deliver results while partnering with customer teams to foster innovation through continuous learning. Wizeline is invested in doing well while doing good, striving to make a positive impact where they live and work.

To see how Wizeline can help you, visit wizeline.com.

Business Reporter
Press
+44 20 8349 4363
email us here