The data economy is exploding, creating challenges as well as opportunities for financial services organizations such as banks, investment banks, insurance companies, stock brokerages. The key challenge is to efficiently manage the variety and volume of data. If done well, organizations have an opportunity to better serve their customers, innovate faster than the competition, and improve operational efficiencies that reduce the bottom line.
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Personalized customer experiences
Leverage customer product and financial history to provide them with recommended products and discounts driving engagement and lifetime value.
Compete with innovation
Financial companies acquire and analyze large amounts of data so that they can help their customers with innovative financial products and make better marketing and product investment decisions which allow them to stay ahead of the competition.
Mitigate business risks
Insights from data help identify inconsistencies with customer’s financial assets in minutes instead of days thus lowering the business risk.
Reduce operational costs
Companies need fewer developers with no special expertise to automate integrations between legacy and cloud financial applications, thus reducing costs to build, operate and maintain these integrations.
Increased customer satisfaction
Insurance providers provide an easy and quick way for insurers to file claims by automating the claim submission and approval process leading extremely satisfied customers.
Meet industry regulations
Due to an increasing number of regulations, it is crucial for financial services companies to automate compliance checks so they can continuously monitor and support regulatory requirements for their data and processes. This helps them with audits thus reducing the risk of being out of compliance and avoiding exorbitant fines.
Omnichannel customer engagement
Track customers’ purchases across various products such as credit cards, loans, mortgages to provide an exceptional experience across multiple channels (web, mobile, in-bank) in order to deliver financial recommendations to customers.
New revenue streams
An integrated and unified customer view helps financial services companies to unlock new customer engagements and monetization opportunities, thus meeting the financial needs of the customers and staying toe-to-toe with other nimble competitors.
Speed mergers and acquisitions
Integrating siloed data sources from mergers and acquisitions is key to streamline processes and make crucial business decisions based on a merged view of the customer and business.
Connect to applications and data sources such as Vertica, Snowflake, and SalesforceStart Free Trial
“Digital transformation is a vehicle for growth at Hampshire Trust Bank. And SnapLogic is essential to that transformation.”
Russ Fitzgerald, CIO, Hampshire Trust Bank