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Every industry relies on customer data to drive operations, and finance is no exception. With a lot of users accessing and using data in ways that weren’t possible just a few years ago, insurance companies, fintechs, banks, and other financial firms are increasingly turning to data integration solutions to create data connections and facilitate faster transactions with customers. 

But, like any other technology, financial institutions also face some challenges as they leverage data integration to connect, transact, and collaborate with customers and deliver the value they’ve been promised.

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Banks and financial service providers are experiencing a period of rapid transformation. 

Heightened by growing disruption, new digital regulations, and increased digital-first expectations from customers, financial services are now in a position where transformation can no longer be delayed. 

The challenge is, a plethora of financial units have several hurdles to get over to make this transformation possible – including modernizing their data integration infrastructure, enabling digital experiences, and digitizing heavy-code processes. 

Modern customer data integration platforms help banks transform the way they transact and do business.

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A strategic, productive finance department is deemed essential for success of any modern enterprise. As protectors of an organizations’ financial health, they are responsible for managing business revenue, billing and invoice processing, expenditures, third-party procurement, and more.

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The world of business is witnessing a series of developments that have an impact on executive decision-making. CFOs are at the center of this disruption, as their role in the past five to 10 years has transformed dramatically.Currently, finance leaders not only need to arrive at recommendations at critical junctures for the organization but also need to substantiate how they arrived at those recommendations.