Is your business ready for the new normal?
“Financial services lags a little bit because there is so much concern around the problems that occur if you get it wrong: There’s a lot of money involved,”Craig Lowery, a VP analyst at Gartner.
COVID19 has revealed just how essential digital is in the current global economy. Home working and lock downs has exposed the inadequacy of paper based and part digitised business models. Digital businesses were able to seamlessly adjust to remote working and deploy continuous changes in response to the current crisis. Others including banks, insurance, health and governments were left blind sided.
Personalisation, ie. sending the right information to the right person at the right time, would have made many customers lives easier during COVID19 if enterprises had progressed further in their digital transformation journey by eg. providing mortgage holders with the ability to opt-in to payments suspension on-line or for health care providers to follow-up with their patients or even governments to administer financial supports for those who suddenly found themselves out of work.
The core stumbling block to digital transformation has been the over complexity of legacy infrastructure whose modernisation till now has required time, resources and high levels of risk such that most CxOs have preferred to work around them and thereby providing temporary solutions.
COVID19 highlighted the difference between simply presenting a pretty digital facade and truly providing your customers with a personalised digital experience, which requires the seamless flow of back-end processes with a customer facing mobile app.
The stakes are high for many incumbent financial institutions, insurers and other enterprises facing the real possibility of going out of business.
PCS understands the challenges and has applied its not inconsiderable technical and business expertise to provide you with the tools and the strategy to not only survive but to thrive in this crisis and into the future.