A new report reveals a growing need for centralized communication platforms in finance and insurance. Firms face mounting regulatory fines, seeking efficiency and compliance through channel aggregation.
Innovate 2019 Sneak Peek: Converting Pressure into Progress
- Buy-side pressure on growth and margins from sources including commoditization, aging demographics, fintech competitors, and the cost of compliance;
- Outdated legacy networks and systems that fail to integrate with the cloud and other innovative technology that solves for key challenges;
- Fragmented channels of human and machine communication networks that impede the accurate exchange of information and smooth, efficient workflows.
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Today’s financial workflows are becoming increasingly complex due to the competing pressures of new technology leading to faster execution and the need to ensure that all actions and communications are compliant. In order to keep up with these workflows, the involved participants must become more efficient.