2 min readThe banking, financial services, and insurance industries are evolving into a largely digital market. And as the mar ket evolves, so too does the need to gather, interpret, and protect customer data.
With mountains of data available to players, mining and organizing information and converting it into business action offers a key competitive advantage. Business intelligence enables companies to meet the high expectations of today’s customers for service, and ensures they remain compliant with industry and data regulations.
Business intelligence is a technology-driven method of taking data and analyzing it to present actionable information that helps to drive your business. At the heart of the Financial Services industry today is the concept of customer centricity, and it relies on strong business intelligence.
A notable disruptor for business intelligence comes in the form of big data—and with better data comes better business intelligence. According to IBM, “Almost three-quarters of financial services companies have either started developing a big data strategy or implementing big data as pilots or into process, on par with their cross-industry peers.”
Image credit: IBM
Software systems capture, interpret, and respond to the significant volume of available customer and transactional data. Armed with these powerful insights, companies can develop and deliver the right products and services to maximize customer satisfaction while simultaneously driving business results.
How to Get Started
At SoftServe, our more than 24 years’ experience ensures that your solution is tailored to your business needs. We are ready to work on and discover the challenges and internal needs of clients from the very first contact. We are capable of leading research on client’s needs, discovering internal opportunities for business performance enhancement, and developing the best solutions to meet those needs and face those challenges.
To see real examples of how we’ve met FS clients’ challenges with business intelligence, and learn more about how business intelligence and big data can affect your business, check out our full white paper, “BFSI: Business Intelligence for a Competitive Advantage.”