The world is facing a global pandemic which has led to an uncertain economic future. At Techolution our view is that this could be a major opportunity for massive disruption and accelerated innovation to rebuild a world as we would want to live in. Companies that were considering a digital transformation prior to COVID-19 are now diving deep and moving full speed ahead since digital is the only channel of revenue for most businesses.
The Banking and Financial Services Industry is one of the industries most affected by the pandemic. The industry has already felt massive effects from the crisis, with more to come. These are not only new challenges but also new opportunities. It is meeting the increasing demand for financial services without leveraging the traditional branch banking network. The traditional banks and financial services have to transform expensive compute environments and improve lethargic product development.
Banks need to compete with Fintechs. A Fintech is a financial services company that runs natively on digital platforms. They are using cloud computing and basically using next-gen technology to run their businesses. They don’t have the problems that traditional banking and financial services have around legacy infrastructures. Fintechs also have agile software engineering and a higher velocity of product development. We help our customers better compete with Fintechs and achieve that level of modernization.
Watch the case study below of how financial services benefiting from next-gen digital technology during the COVID-19 crisis on our latest webinar:
You can see the full webinar video here. Fill out the form to let us know how can we help you to digitally transform your business: