Financial Services Industry has the following business challenges at a high-level:
Need for greater insight into financial risks and business performance
- Unforeseen risks from unknown quarters make it difficult to assess all levels of risk accurately and in a timely manner. Each additional risk amplifies credit calculation together with market risks and limits the business considerably.
- High regulatory scrutiny through major regulations such as Dodd-Frank, MiFID II and Basel III and hence the need for oversight present challenges to clients.
Lost customer loyalty
Questionable Mortgage Lending, Government bailouts, New Fees being implemnented for basic services are causing erosion in trust and loyality of customers. It is imperative to retain existing customers whilst adding new customers.
Cost and margin pressures
Escalating regulatory requirements add more process and the cost of capital reserves make it expensive to conduct business. Financial Services institutions continuously face eroding margins from price pressures and an increasing burden of complex legacy technology that is inefficient to operate and expensive to modernize. Capital market firms need to adjust portfolios in the face of low interest rates and poor portfolio returns. Hence there is a greater focus on profitability and reducing operation costs.
Consumer demand for more complex technology
Ever changing Technology, Social Engagement, Device and Channel Enablement (BYOD) make it a constant challenge for consumer demand for use of more complex technology. The gap between technology capabilities and consumer adoption vs bank system capability is widening. Financial Services institutions are having to adapt to these and stay Socially connected as well as leverage cloud for cost and agility.
iLink's Solutions for Financial Services focuses on the following macro customer segments:
- Banking and Capital Markets
iLink’s solutions for Financial Services leverage Microsoft Technologies such as SharePoint, O365, Dynamics CRM, SQL Server, Power BI, HD Insight, Windows Azure, Windows 10, Lync, Skype on various Channels such as Desktop, Web and Mobile (iOS, Android and Windows Mobile).
iLink provides the following solutions for Financial Services:
- Advisory Services for Wealth Management
- Predictive Analytics for Business and Financial Performance
- Data Insights
- Document and Records Compliance
- Risk Management
- Customer Acquisition and Retention
- Line of Business (LoB) applications