A New Kind of Change for the Financial Industry

Gartner highlighted 2016 as a year that would deliver transformational change for the financial industry; driven by digital technologies and new business models. As an industry that have historically been reluctant to change, the idea of digital technologies may at first seem daunting. But as we edge towards the close of 2016, the opportunity technology presents for the financial industry far outweighs the threat.

TBS understand that digital business is forcing many organisations to reconsider how they source and deploy technology and were pleased to explore how revolutionary technology could be utilised by financial businesses, in a secure and cost-effective way, at the recent Financial Customer Advisory Board Event.

Hosted by Samsung at the impressive Banking Hall, London, TBS demonstrated how key technologies could be embraced by the financial industry to address prevalent industry challenges. Showcasing the latest in Wearable, Mobile and IoT (Internet of Things) technology, delegates were provided with an insight into their future workplace and how their business could thrive and survive through the deployment of technology.

With a focus on the customer outcome and the need to bring the high-street banking journey in line with the online experience, TBS demonstrated how technology could enhance efficiencies for this industry by:

  • Augmenting the customer’s high-street journey and improving the relevance with their customers;
  • Empowering the workforce with customer insight and the ability to upsell; and
  • Adding a leading edge.

According to Gartner, CEOs within the financial services should encourage innovation by implementing a bimodal organisational structure and operating model that incorporates a defined innovation framework. TBS have already developed an agile process that underpins a bimodal deployment strategy to assist the financial industry with their digital business where:

  • Mode 1: explores the impact these technologies will have on business, together with key business stakeholders, starting small and quickly deploying a proof of concept with a focus on specific business benefits;
  • Mode 2 concentrates on digital innovation to practically demonstrate how technology can underpin this.

To find out more on how TBS can assist you with your innovation journey, please email rebecca.evans@tbsmobility.com