Leap Consulting Group’s Post

Citi's digital transformation journey showcases the power of strategic modernization in driving efficiency and cost reduction. By retiring over 1,250 legacy applications and migrating workloads to the cloud, Citi has not only streamlined its technology infrastructure but also achieved a 2% reduction in expenses, demonstrating tangible returns on their transformation investments. As IT executives, we must recognize that digital transformation goes beyond regulatory compliance, becoming a catalyst for simplifying processes, strengthening infrastructure, and ultimately benefiting all stakeholders in our organizations. #DigitalTransformation #TechModernization #BankingInnovation https://lnkd.in/eV-CFd9u

It is the time of the year when we do a bit of crystal ball gazing 🔮 to predict the key #technology trends in #financialservices in the new year. The backdrop of economic and geopolitical uncertainty will drive business leaders in financial services to focus on cost reduction initiatives like estate simplification and process improvement. Any strategic investments outside of cost takeout will be limited to regulatory or customer experience related programs. Based on IBM research and conversations with clients and industry analysts, we believe that priority areas in financial services technology will be #digital transformation, #cloud migration, #cybersecurity, #operationalresilience and #ai adoption. Please read my paper for more details - https://lnkd.in/evhirfXq

Check out these predictions and priorities for #financialservices in 2024 from Prashant Jajodia, #IBMConsulting Financial Services lead in UKI. One priority from the article repeated here - including the focus on #hyperpersonalisation exploiting #data and #AI, but it's well worth the 4 minute read of the full article! "Digital: There is no uncertainty about the continued focus on digitisation in financial services. Top banks have already invested significantly in digitisation and have caught up with the neo-banks. Their focus now will be on hyper-personalisation, a strategy aimed at tailoring banking experiences to individual needs. Based on the vast trough of customer financial and spending data and exploiting the power of AI, leading banks will aim to provide more personalised customer service including pro-active nudges and offers. Tier 2 banks, asset managers and insurance companies have more catching up to do. Their focus will be on building the core digital platform and creating the basic digital customer journeys. They have the opportunity to leapfrog by applying key lessons from the digital journey of the top banks like investing in digital garages that bring business and technology together and building a digital engagement platform with a repository of digital journeys that can consumed across multiple channels." Emma Flinter Peter Smith Raghavendra Bharadhwaj Sai Krishna Basetti Atif Mahmood Dylan Titherley John Lilly Louise Watkins Nauria Khan Brooke Goudie

🌏 🌏 Embarking on the journey to the cloud is a significant milestone for financial services organizations, with unique challenges. 📏 📐 The financial industry's demanding regulatory landscape necessitates a meticulous approach 🌏 🌏 ⏭ Recently, Kyndryl unveiled specialized banking and financial industry services in collaboration with Google Cloud, strategically designed to address these challenges and pave the way for unparalleled growth and innovation. 🛑 Top Challenges for Financial Services Organizations in Cloud Adoption: 🔒 Navigating Regulatory Complexities: The financial sector demands an unmatched level of compliance. Balancing innovation with adherence to stringent regulatory standards is paramount. 🌍 Data Sovereignty Challenges: Operating across borders is inherent, but maintaining data sovereignty and privacy is a delicate balancing act. 🔗 Legacy System Integration Complexities: Integrating with antiquated legacy systems presents a significant challenge. The transition to the cloud must be seamless, minimizing disruptions to critical operations. 🛡️ Risk Management Priorities: Mitigating cybersecurity risks is imperative, ensuring data integrity and fortifying trust and credibility. 📈 Scalability and Performance Concerns: Managing vast financial data demands scalable infrastructure. Scaling operations without compromising performance is a top priority. 🌐 By adeptly addressing compliance challenges, seamlessly integrating with legacy systems, and harnessing the power of scalable, secure cloud infrastructure, this collaboration stands as a strategic move toward achieving remarkable growth and fostering innovation in the dynamic financial sector. 💼🌐💰 #CloudInnovation #FinancialServices #TechPartnership #googlecloud #gcp #cloudmigration #cloudtransformation #financialservices Read more here: https://lnkd.in/gTKp-JHy

WHY USE WWT's #ATC: #WWT's Lab Hosting offering is playing a key role in how a multi-branch, global #bank certifies #technology, evaluates solutions from multiple vendors and acquires new skills. Client reduces technology certification time by 40% also saving cash, confidently selects the best #data protection, #firewall and data center switching solutions, and their engineers enhance skills related to #cloud computing, cloud operations and cloud data protection. https://lnkd.in/eRUiJjxA

With the right tech levers, banks can slash infrastructure costs by 60%. Our latest blog explores how banks can breathe easy by adopting the cloud, automating processes, and harnessing AI. Get insights on making every penny count: https://lnkd.in/gjicd7dD #Bank #Cloud #modernization #DigitalTransformation #BusinessReimagination #SLK

Read this article by Prakash Pattni, MD, Financial Services Digital Transformation at IBM on how Scottish #fintech Ionburst is protecting data in a hybrid world. With their platform running on IBM Cloud, Ionburst provides data protection across hybrid cloud environments, prioritizing compliance, security and recovery of data. https://lnkd.in/eeHKrP5F

For financial institutions to maximize the full potential of the #cloud in their hybrid infrastructures, while still maintaining the utmost #security, they'd be wise to consider these five key steps from Zscaler. https://lnkd.in/eYiwrj2W

Addressing banking concerns and opportunities in cloud adoption Sanjay Gupta of Deloitte discusses effective cloud governance and resource optimization to manage the complexities of multi-cloud environments. Moving to the cloud creates a standardized tech environment, boosting efficiency and productivity. This happens through consistent best practices and reusable building blocks that streamline both development and ongoing operations. Cloud adoption offers automation, eliminating manual infrastructure management tasks, reducing manual intervention, and minimizing delivery risk. The BFSI sector is increasingly investing in cloud technologies to drive transformation, innovation, and data agility in their systems. Read more at 👇 https://okt.to/ohV8AO #cloud #Digital #technology #banks #Fintech

The last few years have seen significant changes in online banking. AWS has analyzed the latest trends in finance and set out its findings in the "Banking on the Cloud" report. Looking to the future, they predict that 7 areas will become top priority for financial institutions: • Focus on customer experience • Changes to money lending • Treasury servicing • Changes to debt collection • Preventing financial crime • Ecosystem-based banking • Cyber event recovery To understand in more detail what the future of banking looks like, contact Innovative Technology Solutions today.