Finance and Banking


Some of the major challenges faced by the finance and banking industry today include global economic conditions, new technology trends for financial services, and innovative business processes and services. The finance and banking industry represents a vital economic sector for every country. This industry is generally a reliable thermometer of regional and global economic conditions, due to the fact that it manages a major part of all financial transactions.
Read More
General activities in the finance and banking sector include managing negotiable and financial instruments: savings accounts, investments, bonds, money market accounts, stocks, and derivatives. These activities are core to the economic sector in every country.

Besides the general challenges faced by the finance and banking industry, there are specific challenges that companies in this sector must confront in order to offer new services to users, and to improve the quality of existing services. Some of these specific challenges include
  • meeting all national, regional, and global regulatory standards for finance and banking services, as well as adapting to these regulatory frameworks within improved service models;
  • pursuing customer service improvement, with options like electronic banking and call center services for banking;
  • increasing the number and variety of currently offered financial and banking services;
  • improving proficiency and service productivity to increase the organization’s return on investment (ROI) for financial services; and
  • improving security schemes to mitigate financial risks and exposure.
Companies in the finance and banking space need specific software solutions to successfully address the challenges of a fierce competitive industry. Since this industry is based on bringing financial services to customers, customer care is one of the most important considerations when selecting systems designed for this industry. Customer relation management (CRM) systems with special features for financial and insurance institutions can enable them to efficiently address all customer care issues, and also renew and improve all service models.

Start Your Software Evaluation:


Related Companies

Related RFP Templates


Insurance and Investment, Marketing Automation, Sales Force Automation (SFA), CRM ...

Related Software Evaluation Reports


This CRM Software Evaluation Report supports specialized criteria for groups engaged in...

Related White Papers

Reports have indicated that more and more customers are using online and other self-ser...

Interactive voice response (IVR) systems bridge communication between enterprises and c...

Interactive voice response (IVR) technology allows a computer to interact with customer...

An interactive voice response (IVR) system can be key for communication between an ente...

Related TEC Reports

Most merchants and consumers have adjusted to the multi-device, multichannel environmen...

Coda Financials (V13) by UNIT4 has been certified by TEC in the financial management so...

Zavanti ERP is now certified by TEC in the enterprise resource planning (ERP) for servi...

Organizations seeking the services of a value-added reseller (VAR), channel partner, im...

Zavanti offers an end-to-end suite of solutions for the real estate, construction (prop...

Related Research Articles

Microsoft is the first major cloud provider to adopt the first international cloud priv...

NetSuite ERP is now TEC certified in the enterprise resource planning (ERP) for service...

Infographic: TEC recently surveyed its global audience of IT and business professionals...

UNIT4 has entered into a new partnership agreement with Norwegian IT company EVRY, targ...

Microsoft recently shared more details with its partners on two Microsoft Dynamics CRM ...