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From changing regulatory requirements to new business models and customer expectations, Financial Services & Insurance organizations are faced with multiple challenges and how to navigate them.
To compete at the speed of the industry, organizations need to modernize existing applications and processes and embrace the move to cloud.
Open API and data sharing standards are changing the way end-users are able to control and own their data and access integrated experiences from third party providers.
Data & analytics
The exponential increase of data and proliferation of different data types are making it more difficult for organizations to gain business insights.
New business model innovation is enabling organizations to create a modular approach by which they provide their assets to third parties.
- Technology modernization
- Data strategy
- Open finance
Cloud transformation & technology modernization
Modernize your organization by adopting a cloud-first strategy.
- Migrate to public, private and hybrid clouds to drive down cost
- Streamline your application modernization approach for a faster delivery timeline
- Connect disparate systems enabling you to adopt a modern data strategy approach
- Automate processes and workflows to drive business agility, increasing time to value
Build a lasting data strategy
Develop a data approach that enables your organization to make informed business decisions that improve your customer experience and loyalty, reduce risk, and grow new revenue streams.
- Gain predictive insights and flexible reporting to help inform your business decisions
- Attract new customers and improve customer loyalty
- Reduce risk and lower costs
- Identify new products based on customer needs
- Provide insights for executives, boards, investors, employees, vendors, counterparties, and third parties who require information from across the organization
Enabling open finance
Open banking opens up new opportunities for organizations to collaborate with a broad ecosystem of partners and drive new business model creation.
- Comply with new regulatory requirements, open API and data standards
- Facilitate a secure method of data exchange with new partners and ecosystems
- Enable organizations with adoption of API standardization based on industry standards
- Enable better consumer consent management
Monetizing new business models
Whether it is a product or license, Boomi enables you to easily repurpose your existing assets to build Banking-as-a-Service propositions and provide embedded solutions to your partners. Boomi helps you grow new revenue streams by enabling you to:
- Build app marketplaces & platforms that allow you to easily scale with your partners
- Easily repurpose your products and licenses available for partners to embed
- Deploy Banking-as-a-Service business models to drive new revenue streams lead in new business model innovations
Managing Data for Risk, Governance, and Compliance
Align people, processes, and technology under a holistic data governance framework with Boomi.