Razzo has helped financial services companies unleash the power of trusted, governed, relevant, and accessible data to fuel innovation, become more agile, and realize new growth opportunities, resulting in intelligent market disruptions.
Financial services companies across the globe are striving to prioritize customer centricity, comply with industry regulations, and combat financial crimes. To accomplish these strategic priorities, most are making significant investments in enabling technologies such as artificial intelligence (AI) and automation to deliver trusted business insights from analytics, get ready for the Internet of Things, and manage infrastructure in a hybrid environment. The success of these initiatives depends on high-quality, accurate data—so organizations must stand up effective data management and governance capabilities to prevent exposure and reduce risk.
Data – Driven Solutions for Financial Services Markets
The most important business priorities for today’s financial services firms are to make trusted data actionable at scale so it can be readily used by people, apps, machine learning and more, and to turn data management challenges into opportunities.
Transform Customer experience and Engagement
Financial institutions are shifting to modern, cloud – based business solutions to differentiate themselves from their competitors. They are integrating AI – driven automation to deliver a transformed, omnichannel customer experience across priority touch points – from call centers to mobile devices. Now more than ever, banks, sacco’s need to quickly identify, understand and predict the needs of their customers across all channels, devices and locations.
Accelerate Wallet Share Growth
Financial Services customers can now make payments, send money, invest, buy insurance and apply for financing in ways that were once unimaginable. By delivering best – in – class experiences to these customers, financial institutions can take advantage of an unparalleled opportunity to increase the amount of money each customer spends with them. And using targeted upsell and cross-sell offers to anticipate customers needs is not only farless expensive than acquiring new customers, it is also fastest, most profitable path to incremental revenue growth.
Operationalize Data Governance for Compliance and Risk Management
Every year brings new regulatory challenges to the financial industry—challenges that will inevitably increase—fueled by global interconnectedness, competition, and consumer demand. Regulators worldwide will assess how financial companies adapt to rising pressures and manage the associated risks.
As such, CDOs must adopt an end-to-end, intelligent program of enterprise data policies, processes, and standards to scale data governance operationally across the enterprise—reducing the costs and inefficiencies associated with managing data within standalone business silos.
Combat Fraud and Financial Crimes
As financial institutions accelerate their shift to digital and mobile-based transaction platforms, vulnerabilities in payment services have increased. Concerns about fraud and online financial crime have skyrocketed as banks and customers lose billions of dollars to fraud every year. In response, financial services firms are modernizing their existing fraud monitoring systems, investing in cloud data lake solutions, and adopting AI and machine learning-powered predictive analytics to detect and combat fraudulent activities faster than ever before.
Accelerate Post – Merger and Acquisition Success
With merger and acquisitions expected to increase across the financial services sector, companies that have experienced an acquisition are under significant time and cost pressures to rationalize, integrate, consolidate and seamlessly share the newly acquired volumes of data across the merged entities. IT infrastructure and staff musts be able to scale and manage the data effectively so the business can leverage trusted insights to expand market share.