Innovation in the financial services industry takes place under the scrutiny of compliance, auditors and consumers. Innovating has wide implications for financial services companies and has the potential to significantly improve the quality of information, integration of systems and core business functions. Such improvements must be achieved while adhering to the requirements of multiple organizations or stakeholders within the company.
Large transaction volumes of many types are a given in the financial services marketplace. Improving work processes provides one of the quickest ways to achieve improved financial performance.
Customer service is always a point of differentiation for financial services companies. The seamless availability of information and the ability to interact with customers on demand with the right information creates competitive advantage.
Disclosure and disposal requirements further necessitate the importance of records management, document and information classification and the standardization of terms.