There is no one-size-fits-all approach to digital transformation in the financial services industry. Every business has its own culture, strengths, challenges, goals, and unique customer needs to account for in its strategy.
But regardless of where your financial services organization is in its digital transformation—from starting to build the foundation to having a mature, in-house program—there are some key things the Burroughs team wants you to know to realize the full potential of your technology investment.
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Despite what you may hear from some suppliers, financial services businesses no longer need to be married to one OEM or technology platform. Thanks to the growing standardization of application programming interfaces (APIs) and native integration capabilities, you can instead focus on finding the right technology tools and platforms that support your specific needs instead of settling for an option that may not meet your requirements and the growing needs of customers.
Thanks to acceleration in mobile technology and data analytics, delivering a personalized customer experience is now table stakes for any financial services business.
Although some customers will always seek one-on-one support, others will prefer to handle transactions with self-service options available in-branch, online, or in-app. In any case, your business must have the technology to not only match customer needs but also integrate seamlessly into your core systems to provide a holistic view.
Every device in your fleet produces valuable data that can be used to better predict its service needs, justify its operational placement, and accelerate its recovery time in the event of an issue.
If your organization isn’t already tapping into this important stream of data and using it to ensure preventative maintenance, drive data-driven decisions, and maximize your operations, then now is the time to start.
In fact, Burroughs helps customers across the country by leveraging remote monitoring and triage services to:
Today, financial services businesses no longer have to settle for having a patchwork of implementation and support for their cash automation, self-service, and related IoT equipment composed of vendors with different service-level agreements, response times, capabilities, and service footprint.
Instead, your entire fleet ecosystem can be managed by one partner. In fact, an industry leader like Burroughs can provide full-lifecycle support no matter the make, model, age, or location of your equipment.
Although implementing new technology provides numerous benefits to the customer experience, don’t forget to calculate the benefits to your bottom line, too. As your team develops its business case for your transformation initiatives, remember to highlight the value of:
For more than 135 years, Burroughs has helped financial services organizations leverage cutting-edge technology to better serve customers and streamline operations.
Although each transformation journey is unique, Burroughs has the in-house team and experience your organization needs to find the right hardware and software. With Burroughs in your corner, your business will always have the digital-first capabilities your customers want and your organization needs to maintain its competitive edge.
Want to learn more about digital transformation in financial services and how your business can ensure it has the right foundation for sustainable innovation? Then make sure to get your hands on Burroughs’ resource, Digital Transformation Checklist All Businesses Need.