We’re speeding up cloud adoption in the financial services industry by offering M365 platform solutions with built-in security and regulatory frameworks that help clients and their customers accelerate their digital transformation journey.
Financial institutions are accelerating innovation to meet growing customer expectations, deliver consistent services in the face of challenges like the global pandemic, and navigate the ever-complex regulatory environment.
The Financial sector has been more vocal than most when it comes to the remote working requirements of the past 18 months. Beginning this week over the pond on Wall Street, Goldman Sachs is requiring nearly all of its New York employees back in the office- plans were set to be similar here in London until the delaying of stage 4.
In contrast the likes of Citigroup have told most of its workers that they can adopt a so-called hybrid schedule between home and the office longer term. When you dig a little deeper, the financial sector is full of these divergences, creating bubbles of hope around the prospect of long term flexibility and increased anxiety about a full time return. Parents are now faced with the return of childcare woes and the prospect that younger, single colleagues will rush back and reap the benefits of face to face time with clients and executives.
For such a high pressure sector, the approach to digital hybrid work seems disjointed and without an ‘across the board’ blueprint. There seems to be a huge amount of talk from the big guns but the reality being faced is reluctant staff and office space capped at 50% for the foreseeable. It seems, embracing a hybrid, cloud environment would be well advised.
Our predictions for the financial services future
Even if there is the suggestion that finance will make its big return, we’re bound to see a ‘new normal,’ with plans to move to a hybrid model of work popular amongst the likes of Nat West who will keep a third of their 59,300 staff working remotely- 55% dividing time between work and the office. Some banks are also planning on shifting office space to other cities with a lower cost of living. If this past year has taught us one thing it’s that a better work life balance is possible and tech talent seems to prefer residing in areas outside of the city centre where you can have the best of both worlds.
According to the general manager of global banking and financial markets at IBM corp ‘“A successful trader now needs to be somebody who’s very adept at taking advantage of artificial intelligence and machine learning,” Wagle said. “Those types of individuals are not available in London, New York or Frankfurt. They have strong views on work lifestyle balance, and a lot of them have indicated they’re not willing to move.”
So how are Konsolute developing cloud environments tailored to the technology and regulatory needs of financial services companies?
Protecting the planet whilst increasing revenue
The cloud is naturally better for the environment, newer banking providers have picked up on the benefits of selling eco-friendly/ ethical financial services and younger investors are opting for banking options that align with their personal beliefs. The likes of Triodos, Starling and Monzo put their investments back into projects that are positive for the planet.
Cloud-based financial services are a way of accelerating off-premise technologies by firms in this sector reducing environmental impact and minimising the ‘carbon footprint per transaction’- something younger generations are increasingly preoccupied by.
Tighter security and reduced risk
When it comes to the financial sector it is key that security and compliance is baked into the platform foundations. Without heavily regulated access management and controls, the likelihood of a large scale data breach dramatically increases. We ensure sensitive data on clients or deals is only shared with relevant stakeholders- our cloud migration services for the financial sector prioritise security at every turn.
Leverage your pandemic data and increase connectivity
Konsolute aim to streamline the deal making process and eliminate the need to log processes into multiple systems. With powerful Power BI data insight tools, get a better oversight of your organisational data than ever before and predict where your investors are heading and future financial trends.
Accelerate revenue growth
Financial institutions are accelerating innovation to meet heightened customer expectations, deliver consistent services in the face of challenges like the global pandemic, and navigate the ever-complex regulatory environment. If you think its time to get digital with your financial service provision we’d love to chat.