Today, consumers can buy everything — from groceries to gas — without ever opening their wallets. In fact, many financial transactions now happen via mobile apps, websites, email, text messages, and other digital [...]
In the face of ever-increasing cybersecurity challenges, the issue of business continuity evolves and becomes more and more complex. Nowhere is this more true than in financial services. The stakes for banks, brokers, [...]
The emergence of new technologies — and the people, processes, and ideas that go with them — has led to an upsurge of disruption in the insurance industry over the past several years in the form of “insurtechs”.
A great deal of attention — and investment — has been directed at insurtech start-ups as they deploy new technologies, processes, and skills to compete with incumbent companies.
The ascendance of cloud computing has radically transformed businesses of all stripes by encouraging disruptive new entrants, and this is particularly true for the insurance industry.
An insurance claim is a critical point of contact between a payer and its customers. In fact, for many customers, it’s the only point of contact, which means the first interaction they have with their insurance provider...
When it comes to digital transformation, there’s a pervasive fallacy that new technologies (e.g., public cloud) and common practices (e.g., agile development) will, on their own, usher in changes that lead to outstanding outcomes.
Last October, in a blog post titled The Three A’s of Embedded Finance, we described how the “three A’s” (apps, APIs, and AI) are the tools with which companies are building phenomenal success in embedded finance.
Distributed ledger technology (DLT) turned thirteen years old in 2021, and like most rambunctious teenagers, it had its fair share of hijinks: from “meme coins” of little to no value (other than being promoted by social media influencers) to eye-popping thefts at insecure cryptocurrency exchanges that sometimes totaled in the hundreds of millions of dollars.
Embedded finance can’t be ignored; it is fundamentally transforming the face of financial services, injecting growth and innovation into traditional products and services at a time when fintechs, challenger banks, and insuretechs are taking on incumbents.
The world is starting to emerge from the COVID-19 pandemic, and it feels a bit like the old story of Rip Van Winkle. First published in 1819, “Rip Van Winkle” tells the story of a man who sleeps for 20 years, only to emerge and, having missed the Revolutionary War, finds that so much has changed.
A new research paper from Atos “Realization for Change: Accelerating Action Now” provides some interesting insights into digital transformation in financial services, several of which are seemingly contradictory.
When it comes to the enterprise datacenter, the public and hybrid cloud have been in the spotlight lately. This is especially true in financial services, where a large percentage of computing resources are domiciled in corporate datacenters.
No one would argue with the idea that the world has been dramatically changed by the COVID-19 pandemic. But what are the most important shifts and innovations in financial services and insurance, and how are they likely to be manifested in the future?
The term “digital transformation” has taken some criticism for being overused of late, but the simple truth is that the transformation of financial services is being driven by the adoption of digital tools, practices, and procedures. Even so, effective and pervasive results are not a given and there are a number of common stumbling blocks that can derail transformation efforts.
Much has been written about the many ways in which public cloud is transforming the financial services and insurance industries, but it often seems that progress is slow in coming. The recent Financial Services Summit from Google Cloud should put that notion to rest.
The phrase “digital transformation” is so widely used these days that some people go so far as to say that the term has become essentially meaningless. While the term may be a bit overused, facts on the ground speak to a reality where many areas of financial services are indeed being transformed by the adoption of digital technologies, practices and orientation.
In a highly regulated industry that is no stranger to crisis, rebounding from the pandemic undoubtedly poses a challenge to the financial services sector. From accelerating online banking to closing deals virtually, financial [...]
Over the past several years, artificial intelligence (AI) has captured the imagination of the financial services and insurance industries, and for good reason. The enterprise has been deluged by a monsoon of data, [...]
The year started off bright at Maven Wave, when our very own Uma Vandegrift, Principal, was named one of Crain’s Chicago Business’ 2020 Rising Stars in Tech. This prestigious recognition was well-deserved as [...]
Time will tell how the year 2020 is seen in the rearview, but one thing is certain: it wasn’t dull. The global COVID-19 pandemic altered everyone's playbook for the year, and the impacts [...]
The financial markets have never witnessed a deadline as large, complicated and challenging as the upcoming shift away from Libor. Often called “the most important number in the world”, Libor is being decommissioned [...]
Rahm Emmanuel, the former Chief of Staff for President Obama, is often quoted as saying the “You never let a serious crisis go to waste.” What is often left out is the second [...]
The deadline for the end of Libor is fast approaching and many financial institutions are struggling to address the complexities that this creates. Libor is ubiquitous in modern financial markets and this raises [...]
The imminent demise of the benchmark Libor interest rates is one of the most important developments in the history of financial markets and one that will pose a challenge for all financial institutions. [...]
For financial institutions across the globe, the benefits of cloud adoption are undeniable. But a solid cloud and transformational foundation that includes everything from technology to development, practices must be established first, and one [...]
Libor, or “London Interbank Offered Rate”, has been referred to as “the most important number in the world” because it is the most widely used interest rate benchmark. This group of critical interest [...]
In 2017 it looked as if bitcoin, the original manifestation of distributed ledger technology (DLT), was on course to become a dominant and ubiquitous force in financial markets. Unfortunately, bubbles are bound to [...]
When financial services companies wrote their business plans for 2020, it’s a safe bet that no one penciled in closing all physical locations, cutting revenue dramatically and converting nearly all employees to work [...]
In nearly every way, the COVID-19 pandemic is an unprecedented event and the challenges that it poses to businesses are both widespread and complex. In addition to the unique new questions and concerns [...]
It’s an undeniable fact that cloud computing, as exemplified by Google Cloud, is the foundation for a profound transformation in all aspects of business today. In financial services, the stakes are particularly high [...]
Make no mistake: the current explosion of volume in data coupled with the emergence of new tools and processes on the public internet has created a near-perfect storm when it comes to generating opportunities [...]
Practical Tips for Data Warehousing in the Public Cloud It’s well known that tremendous advantages can be gained by financial services firms through the intelligent deployment and application of data. In fact, data [...]
Fintech is a big deal. CB Insights reports that the first half of 2019 saw the largest number of fintech deals in any half-year to date, and the value of deals rose by 60% [...]
The Financial Services Leaders Forum (FSL Forum) from Google presented a detailed and comprehensive look at how Google Cloud and its attendant services are acting to drive transformation in the industry. Financial services [...]
Over the past two years, the conversation regarding cloud adoption in the financial services industry has fundamentally shifted as industry-wide reluctance and skepticism have given way to enrollment and enthusiasm. A perfect example [...]
Key Components to Making a Big Bang with G Suite There are certain feature enhancements that seemingly can never go together. For example, one would never expect that a car could be made [...]
There seems to be virtually unanimous agreement that the ascendance of the public cloud is inevitable, but the story on the ground is somewhat different. While whole new category killers like Netflix, AirBnB [...]
Disruption is lurking in financial services. In an environment where fintech unicorns are deploying new technologies in an effort to garner market share from incumbents, it is neither safe nor prudent to rest [...]
Make no mistake: the world of business is being transformed by the cloud. While brand new categories like ridesharing and video streaming steal the headlines, a quiet revolution is underway as established industries [...]
When it comes to technology, history has shown time and time again that institutions who don’t keep up with trends fall behind in ways that constrain their growth and threaten their relevance or [...]
What does it take for a top ten U.S. bank to move more than 65,000 users and 400 terabytes of data to a new suite of collaboration tools in the relatively short time [...]
In discussions about fintech, the topic is often framed as a confrontation between established, old-school incumbents and emerging, disruptive start-ups, so it was fitting that FinTEx Forum kicked off with a panel that [...]
In our white paper, Securing PII Data in the Cloud for Financial Services, we took a deep look at the current conditions for cloud migration in the financial industry, including the current rate of [...]
Ready or not, public cloud is coming to financial services. According to research from Tabb Group, one in four financial services firms are planning on moving work loads to the public cloud in [...]
In two recent blog posts, Public Cloud is Ready for Financial Services, But is Financial Services Ready for Public Cloud? and Trends in Cloud Migration for Financial Services, we made the compelling case [...]
While the public posture for cloud migration in financial services is one of caution and restriction, the word on the ground tells a different story. With names like JP Morgan Chase, Nasdaq, FINRA, [...]
There’s no disputing that the emergence of cloud computing has radically altered the way that business is conducted and even the ways in which we lead our lives. From the emergence of Netflix [...]
Over the past decade, cloud computing has transformed the face of business. With lower cost, greater flexibility and increased power, cloud technologies have been deployed in industries as diverse as entertainment, transportation and [...]
Data protection, particularly for sensitive data like PII (personally identifiable information), is an extremely important consideration for the enterprise. The financial, legal, and reputational costs for non-compliance can be very high. It is a common [...]