The Banking, Financial Services, and Insurance industry is riding a giant wave of entrepreneurial disruption and digital innovation. OTSI offers the proper domain knowledge, technical expertise, and relevant experience to transform traditional banking and financial institutes into agile fintech companies.
As financial companies are caught between increasingly strict and costly regulations, they still must compete through continuous innovation. Improving technological advancement is making that possible and challenging the industry status quo powered by innovation and investment.
OTSI offers the proper domain knowledge, technical expertise, and relevant experience to transform traditional banking and financial institutes into agile fintech companies.
Through our experience from partnering with some of the world’s leading banks and financial institutions, we are able to deliver a comprehensive range of services and solutions.
Banks today are undergoing tremendous amount of change with the advent and evolution of digital technology and ever changing customer expectations. The traditional landscape is poised to change and is redefining the way banking is done. From deploying robotics and artificial intelligence in streamlining work processes to meeting the evolving customer needs this industry is ripe with opportunities. Stiff competition is forcing banks to make quicker decisions on loan applications during underwriting and due diligence stages.
Financial Institutions are increasingly getting comfortable in acting many ways like fintechs. More and more banks are investing in digitizing processes, leveraging and making decisions based on data and analytics focusing on the customers, extending beyond web and mobile devices, doing so at agile speeds by adopting a new delivery model. As banks strive to become fully digital – modernization, channel innovation, and process automation are taking central place. At the same time, they are also extending their financial services by allowing third parties to build and use banks data to provide additional offering.
Commercial banks provides financing for a wide range of consumers and business activities. Major commercial banks, in addition to their lending services, also offer cash management services such as money transfers and account reconcilement, asset-based financing, and equipment leasing. They also issue letters of credit supporting global trade.
Insurers increasing access to customer data, analytical tools and marketing technology is enabling outreach to customers and clear line of sight into what resonates with them. Carriers are increasingly able to quantify the pain points that cause a customer to leave – true moment of truth – and use this data to improve the customer experience.