Financial Services Overview
The financial markets have taken a beating lately. Banks are getting acquired and federal agencies are now injecting capital to sustain the liquidity of our capital markets. With platform consolidation, system retirement and dual application support in play at various financial services companies, the financial services team at Princeton Blue can help with defining platform consolidation strategy and executing on that strategy.
With experience in retail, commercial and wholesale banking, we have been working with our financial services clients to help them build a shared services framework that leverages existing large backend systems while reducing the impact on the customer facing applications. Federal regulatory requirements such as AML, Patriot Act, etc, SOX compliance rules and other oversight requirements will only increase with the current economic situation.
Princeton Blue can assist you in building process based solutions so you can better handle new regulatory and other oversight requirements as the new laws and regulations are introduced in the coming months. These process centric solutions allow your business decision makers to track, review and react to the process information in real-time.
A shared services enabled infrastructure provides the much needed channel-independent consistency within a Financial Services organization. For example, retail banks that are heavily focused on customer satisfaction need to provide an excellent customer experience for their customers regardless of how the customer chooses to interact with them. Online banking customers, IVR customers, call center customers and those visiting a branch/teller all want to see the same real-time information. This required the back-end applications to be well integrated and share information regardless of customer channel.
With IT budgets are under review and each dime invested in strategic IT initiatives requiring a significant ROI, it is more important than ever to get the most out of existing applications by ensuring that those applications interact with human and system interfaces as seamlessly as possible.