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Often, moving to the Cloud is viewed only as a destination, but the Cloud is more like a tool chest of capabilities that can help your business excel. With many available cloud options, it can be difficult to align your organization on the best path forward. Your cloud choice (including private or hybrid) and your cloud provider (Amazon, Google, Microsoft, IBM, etc.) should be a part of a holistic strategy to accelerate your digital transformation and maturity.
In the financial services market, it is expected that about 70% of customers will stay in some form of hybrid model, and, although the majority of their communications systems may be on-premise, businesses can get the benefit of the Cloud immediately. The end goal then becomes establishing a digital workplace in which unique, personalized experiences are delivered throughout your customer’s journey.
For many financial institutions, a hybrid cloud platform provides the more robust solution. Hybrid cloud adoption across many platforms allows the industry to build a more accessible financial world. In a recent study, Gartner estimates 38% of banks plan to, or have already, deployed a multi-experience communications platform.
Supported by advances in artificial intelligence and the development of new application programming interfaces, the financial services industry is finding agility, speed, and innovation by composing banking solutions around each customer.
In financial services, artificial intelligence is less a trend and more a new state of reality for delivering both customer and employee experiences.
Analysts at Deloitte describe three common traits of AI frontrunners in financial services. The first is embedding AI in strategic plans, with a focus on organization-wide implementation. Next is a focus on applying AI to customer engagement opportunities and revenue. Third, adopting a portfolio approach for acquiring AI. Innovation in the financial world will continue rapidly, and it's intriguing to think about where the financial sector will evolve soon.
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