5 Tips for COOs to Improve Efficiency via SaaS Platforms
After decades of long and hard technology change programs and projects, the pace and variety of innovation in the financial services industry has drastically increased. With that innovation comes operational challenges. But regardless of the intensity of change, operational efficiency is no longer a nice plan to have, it is what makes the difference between success and failure for a financial institution or a bank. What does that mean in practice for Heads of Operations, Heads of Information Technology, and Chief Operating Officers?
Rapid infrastructure developments and emerging technologies coupled with the Covid-19 pandemic have accelerated digital adoption across the globe. Industry wide initiatives, most notably the migration to ISO 20022, and increased collaboration among central banks aim to further improve the efficiency and security of real-time and cross-border payments.
Whilst these innovations will massively benefit Financial Institutions, the layers upon layers of new functionality will add further complexity into operational systems. At a time where a multitude of ‘change requests’ are hitting desks, it is vital for decision makers to take a step back and ask key questions before they build or buy anything.
Join our panel on Wednesday 25th May as we discuss:
- How will having a single, centralised, automated, SaaS platform help address pain points for COOs & Heads of Transaction Banking?
- How is regulation driving domestic & international payments e.g. SWIFT gpi, UKFPS, Target2, P27, Singapore FAST, BACS, SIC 5?
- In what way will centralised automation tools improve fraud prevention, reduce friction and enable institutions to fully leverage data resulting from ISO 20022?
- What improvements can we expect in the customer journey for corporates and what should corporates be demanding from their banks & FIs?
- Why have attitudes changed towards the public cloud and outsourcing implementation projects and what timescales do you envisage for the majority of banks & FIs to transition to SaaS platforms?
- What would you recommend as a long-term strategy for digital payments transformation & what should be prioritised first?