Banking in the New Age: Realities & Challenges
Digital disruptions are forcing banking and financial services organizations to rethink their operating models. Customers are demanding real time social interactions, competitive products, and personalized services; regulations are continually imposing financial and operational controls; and the pressures to increase operational efficiency keep mounting on leaders. Competition in banking is fiercer than ever, reputations are at stake and underperforming is simply not an option.
Global Trends in Banking Industry
Banks today cannot operate without significant investments in innovation and technology and must respond in order to improve profitability.
-Data Privacy & Personal Data Protection
-Market & Data Analytics
-Mobile & Online Banking
-Customers Interactions & Experience
From Strategy to Execution
ThoughtStorm caters to the needs of its clients in the areas of banking and finance. We have solutions and services that will help you to reshape your retail banking models, to digitize and automate your daily processes, redesign your customer interfaces, modernize application and cognitive computing to facilitate the transformation of your entire operation, and quickly respond and meet the needs of changing consumer dynamics.
ThoughtStorm has gained valuable experience by working with some of the largest players in the Banking, financial services and insurance (BFSI) industry. We provide a full spectrum of service offerings to our clients by ensuring our consultants are experts in their respective fields.
Digital Disruptions in BFSI
- Digital Wallets– Quick adoption of mobile apps that deliver convenience and efficiency of financial transactions.
- Online Only Banks– Proliferation and growth of online-only banks.
- Artificial Intelligence– FinTech trends such as chatbots, messaging, and hyper-personalized banking
- Big Data– Consumer intelligence driving smart and effective decisions.
- Blockchain– Blockchain continues to grow at a steady pace
Integrating IT Frameworks, Methodologies and Best Practices Into IT Delivery and Operation
At ThoughtStorm, we leverage practical and integrated solutions and operations management approaches. Our architecture strategy delivery & management processes are customized and aligned to our client’s unique industries and business domains.
Our Architecture Strategy Delivery focuses on
- Visioning and Strategy
- Architecture Solution and Design
- Development, Customization and Configuration
- Implementation and Deployment
- Operations Management and Control
Our Management Processes focuses on
- Enterprise Management
- Program & Portfolio Management
- Project Management
- Service Management
- Architecture Management
We are well-versed in hundreds of software development methodologies and project management frameworks, but more importantly we have the expertise to know which methodologies are best suited for your organization and which industry best practices are ‘right’ practices for your organization.
Event Chain Methodology
Adaptive Project Framework (APF)
Extreme Programming (XP)
Critical Path Method (CPM)