FOR IMMEDIATE RELEASE
Achieving digital potential: new solutions to overcome limitations of legacy back-end systems
About Fincons Group:
New whitepaper by Fincons Group outlines how Digital Integration Hubs can help the FS sector respond to evolving market pressures
Milan, 28 November 2019 – Fincons Group, a leading system integration company, releases today a new whitepaper tackling the challenges faced by Banks and Insurers of responding to pressure from new user experience expectations, increased regulatory constraints, and ultimately to the need to integrate data from internal and external sources with high query volumes.
Fincons Group outlines the key role that Digital Integration Hubs can play in helping FS companies respond to these pressures without putting their legacy systems at risk.
Customers are increasingly demanding a swift, engaging and responsive user experience at every touchpoint and agents, brokers, financial consultants and private bankers are making similar demands as they try to cater to consumer needs. This increased volume of demand on systems from queries made over smartphones, websites and many other channels puts new pressure on legacy systems that are already performing business critical tasks. Unpredictable peaks in demand and low-value machine time required by an increasing number of applications puts a huge strain on legacy systems and introduces a tangible risk of outages.
To overcome the challenges arising from demand peaks and growing data volumes, FS companies should be considering the adoption of Digital Integration Hubs that enable:
- the consolidation of historical as well as new real-time data into a single data lake, enabling an easier 360° customer view;
- the integration of external data derived from IoT and Open Data sources;
- the implementation of APIs to interact directly with the data lake to provide the needed data to front-end applications while minimizing impacts on back-end systems;
- the 24/7 availability of real-time data;
- the availability of “Google-like” search features;
- the chance of reducing the capacity required to the back-end systems, often based on expensive infrastructures, by moving it to the data lake (mainframe offload).
Giuliano Altamura, Head of Financial Services Business Unit of Fincons Group, comments: “This whitepaper helps financial services businesses address the financial, technological and compliance risks they are running via a new way of integrating data, and provides a solution: the adoption of a Digital Integration Hub. This new architecture plays a critical role in helping business critical systems save time otherwise wasted in low-value machine time, avoiding outages and helping shift the focus on to customer experience and reducing the risk of customer churn.”
To download the full whitepaper, click here: http://bit.ly/33JVsUe
Fincons is an award-winning system integration company, providing a broad range of services and solutions in strategy, digital, technology and operations to a diverse range of industries. In the Financial Services sector, Fincons has long term and successful relationships with Tier-1 clients, providing solutions and ICT services covering the entire needs for designing, implementing and maintaining new digital solutions as well as back-end systems. With over 1600 employees worldwide and more than 36 years of experience in consulting and system integration, Fincons Group has offices in the UK (London), Germany (Munich), Switzerland (Küssnacht Am Rigi, Bern, Zurich, Lugano), Italy (Milan, Verona, Rome, Bari, Catania) and the US (New York, Los Angeles).
For more information, visit www.finconsgroup.com