Finance

Convenience

One challenge is to offer customers increasing convenience in banking transactions. Today, expectations are rising for convenience and simple solutions for financial transactions. Intelligent self-services and digital, seamless end-to-end processes in the background increase the attractiveness and user-friendliness of the interaction with the bank. At the same time, this increases the burden on employees by automating repetitive tasks. Providing real-time recommendations for Next Best Actions during customer contact is also essential to both, to support the customer needs and and as well the work of the team. Leveraging technologies such as artificial intelligence and machine learning can provide personalized and timed recommendations that improve the customer experience to increase efficiency. The challenge is to combine these convenience requirements and develop innovative solutions to strengthen customer loyalty and remain competitive.
Service

High-quality services are the key to increase customer loyalty. Personalized services are particularly effective in this regard. By using artificial intelligence (AI), targeted up- and cross-selling offers can be created, which are tailored to the individual needs and preferences of the clientele. For users it is crucial that communication with the bank is coherent across all channels. Therefore, digital omnichannel management is essential. Customer expect a seamless and consistent experience whether they contact the bank through a branch, an online channel, a mobile app, or other means. Effective omnichannel management makes it possible to switch flexibly between different channels and still maintain consistent service quality.
Operational excellence

Banks and financial service providers are confronted with the task of optimizing and digitizing internal processes for two main reasons.
First, the optimization of internal processes aims to reduce costs and increase revenues in order to improve operational efficiency. By automating manual processes, leveraging technology and implementing digital workflows, banks can reduce costs, shorten cycle times and minimize errors. An optimized operational structure enables financial institutions to operate more effectively and profitably.
Second, digitization of internal processes creates the basis for flexibility, agility and customer-friendly services. By using digital technologies, financial institutions can adapt their products and services more quickly, introduce new products and respond to changing needs. This enables better customer loyalty, as increasingly flexible and user-friendly solutions are expected.
Regulatory requirements

A major challenge in the financial industry is to deal with legal requirements such as ESG and cybersecurity. These requirements are getting more stringent for financial institutions as well as suppliers, partners and customers. ESG requires consideration of environmental, social and governance factors, while cybersecurity requires adherence to strict security standards for protecting data. Implementation needs a comprehensive understanding of the requirements, the implementation of appropriate control mechanisms, and the adaptation of internal processes and partnerships to meet the legal requirements.

Benefit from our many years of industry expertise.

Quality assurance is critical in finance. Errors in your applications can have serious consequences, especially with regard to the security and trust of your customers. Financial companies must also recognize a variety of regulations and compliance requirements - which can complicate the development and testing processes. With Appmatics, you can stay on top of things at all times.

Bank, FinTech or insurance company: With Appmatics we gained many years of experience in supporting financial service providers of all kinds. We offer you a wide range of testing services.