09 March 2023
In this week’s newsletter, we take a look at how ChatGPT will boost digital banking experiences, the power of outsourcing solutions in the investment industry, and the key investments insurance firms are making in core systems. The importance of capability maps for retail banks is also considered and we examine what the Indian government’s ambitious budget for 2023 means for financial services. Lastly, it’s all about trust as we see what banks can do to bring reluctant customers to digital channels and consider the implications of the Digital Operational Resilience Act for financial institutions across the EU.
Celent: The promise of ChatGPT for augmenting CX in online banking With digital banking maturing, improved chatbots will drive new, more effective customer engagement which could mean more investment in data science and personalised user journeys.
Cutter Associates: The potential of outsourcing to transform the investment industry
With operating models requiring transformation across the investment industry, outsourcing solutions can offer quick wins. The success of this model will rely on selecting partners that align with organisational goals.
Aite-Novarica: Core technology investment overview for the insurance industry
This report examines the investments insurance firms are making in core systems related to the property and casualty and life, annuities and benefits markets.
Forrester: The importance of business capability maps for retail banks
Capability maps help to establish how a bank’s architecture will help it to achieve its goals. Collaborative strategy ideation with a focus on design is crucial.
Forrester: India’s budget for 2023 and its impact on financial services
India’s aspirational budget for 2023 presents a forward-looking picture of how the government wishes to energise the financial services and fintech ecosystem.
Javelin: It’s all about trust for digital bankers
With some customers still reluctant to adopt digital and mobile banking channels, financial institutions must seek new opportunities to encourage engagement. Where trust is an issue, raising cybersecurity awareness is key.
Aite-Novarica: How DORA will strengthen Europe’s financial sector
DORA is an information and communications security framework created by the EU that ensures the financial sector can withstand cyberattacks. This blog examines how the framework will be applied and the organisations it will affect.
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