Daizy Mehta and C Damodar, TCS Financial Solutions
We are all witness to the disruption and change sweeping across business and technology today; more so, in the digital sphere that promises customers a seamless and richer user experience with complete and real-time access to information. The last two years have witnessed a data explosion, and the amount of data is expected to grow another tenfold in the next six years. A sevenfold increase in mobile penetration over the past four years is also having a profound effect. Intuitive interfaces, 24 by 7 availability, real time data-analytics, personalized experiences, zero errors and global standardization – this is the world that customers are getting accustomed to.
Digitalization is the all-encompassing goal, which all solution providers are quickly working towards evolving even as they define strategies that complement and supplement existing systems and ensure superior customer engagement services. Service Providers will need to not only digitalize existing business processes, but also go beyond and reinvent entire business processes, including providing for automated decision making, dealing with fraud and regulatory aspects, as well as aligning operating models to match these reinvented processes.
This article explores the benefits that digitalization can provide to the capital markets value chain.
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