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Finance industry trends
Financial Services & Insurance organizations face diverse challenges, including regulatory changes, evolving business models, and shifting customer expectations.
Technology modernization
Organizations must modernize applications and embrace cloud technology to compete in the rapidly evolving industry.
Open finance
New API and data sharing standards are revolutionizing end-user data control and enabling integrated experiences from third-party providers.
Data & analytics
Exponential data growth and diversification challenge organizations in extracting meaningful business insights.
Banking-as-a-service
New business models enable organizations to offer assets to third parties, expanding services through a modular approach.
Fintech integration solutions
Migration complexity and performance
Legacy systems hinder competition with new market entrants.
- Complex cloud migration of application architecture
- Non-standard APIs causing technical debt
- Performance issues from latency and app dependencies
- Security and compliance risks
- Data silos limiting proactive operations
Cloud and technology modernization
Modernize your organization by adopting a cloud-first strategy.
- Adopt multi-cloud strategy to reduce costs
- Accelerate app modernization for faster delivery
- Connect systems for modern data strategy
- Automate for business agility and value
Disconnected systems and data
Inaccessible or incomplete data leads to missed opportunities and increased operational risks.
- Security and compliance risks threaten organizations
- Redundant, manual activities that add overhead cost to organization
- Reactive vs. proactive business strategy and decision-making
- Negative impacts on customer experience and customer retention
Comprehensive data and analytics strategy
Implement a data strategy to improve decision-making, enhance customer experience, reduce risk, and grow revenue.
- Gain predictive insights for informed decision-making
- Enhance customer acquisition and loyalty while reducing risks and costs
- Develop products based on customer needs
- Provide comprehensive insights to stakeholders
Security and compliance requirements
Open banking requires consent management and API compliance, pressuring financial institutions.
- API standardization issues hinder third-party access
- Difficulty providing secure access to requested data
- Uncertainty in complying with new regulations and standards
- Challenges in enabling consumer consent management
Enabling open and secure integrated finance
It also enables ecosystem collaboration and new business model creation for organizations.
- Ensure compliance with new regulations and API standards
- Implement secure data exchange with partners and ecosystems
- Adopt standardized APIs based on industry best practices
- Improve consumer consent management capabilities
Navigating embedded finance
Organizations struggle to develop and monetize new Banking-as-a-Service business models.
- Limited technology capabilities hinder product abstraction
- Non-modular applications impede white-labeling and scaling
- Challenges in securely embedding assets into marketplaces
- Lack of platform for leading new business model innovations
Monetizing new business models
Boomi enables repurposing assets for Banking-as-a-Service, providing embedded solutions and new revenue streams.
- Build scalable app marketplaces and platforms
- Repurpose products for partner embedding
- Deploy Banking-as-a-Service business models to drive new revenue streams lead in new business model innovations
Get started with intelligent integration and automation
Popular finance connectors
Google storage
Cost-effective object storage for simplified data management.
Microsoft Azure Blob Storage
Easy integration with Azure Storage objects.
MongoDB
Efficient data transfer using MongoDB Java APIs.
Salesforce
Seamless integration with all Salesforce products.
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