The recent AWS Financial Services Symposium focused on the transformative power of technology and innovation in the financial sector. Antoni Vidiella, Head of Finance Studio at Globant, delivered an enlightening presentation highlighting the company’s expertise in integrating cloud computing with financial processes. He emphasized the importance of creating connected experiences for finance customers. Let’s explore the key takeaways from the event and see how this interconnected approach is paving the way for a more promising future in finance.
Key Takeaways from the Symposium
During Globant presentation on Connected Experiences in Financial Services, a few core ideas emerged. Key tech trends in the Banking, Securities, Financial Services, and Insurance (BSFI) sector include:
- Emotional Connections at Scale: Connected ecosystems can create emotional experiences that resonate with customers, making interactions more personal and engaging.
- Breaking Down Barriers: Open collaboration and agile decision-making are crucial for fostering barrierless banking, where customers can navigate financial services seamlessly across platforms.
- Leveraging Technology: The Globant Finance Studio is all about harnessing technology to enable financial institutions to offer features like Embedded Finance, open APIs, personalized services, and automation. This approach leads to more tailored customer experiences.
What is a Connected Financial Ecosystem?
A connected financial ecosystem is built by a network of financial institutions, fintech companies, and technology providers working together to streamline financial interactions. This synergy is powered by APIs, cloud computing, and AI, enabling secure data sharing and collaboration. Why does this matter? Simple: it ensures that financial services are more efficient, transparent, and user-friendly.
To exemplify the concept of a Connected Financial Ecosystem, Antoni Vidiella pointed to an energy company that has effectively leveraged technology to create a seamless integration of digital and physical payment experiences for its customers. He noted, “Globant transformed its digital ecosystem, leading to a remarkable 35% reduction in refueling time, a doubling of its loyalty program subscribers, and positioning itself as the second most utilized digital wallet in the country, boasting an impressive application rating of 4.8 out of 5.”
The Latin American Landscape
Financial institutions in Latin America, particularly in countries like Brazil, Mexico, Chile, and Argentina, are quickly adapting to these trends. Many embrace AI innovations to refine their banking processes—onboarding, underwriting, monitoring, and collections. This shift is essential for keeping pace with evolving customer expectations and technological advancements.
AWS: The Backbone of Innovation
So, what role does AWS play in all of this? AWS provides the foundational framework that allows Globant and its clients to build robust and efficient platform-based ecosystems. This collaboration is crucial for delivering connected experiences that stand out in the crowded financial services market.
Exciting Innovations on the Horizon
As we look to the future, several innovations are emerging in the financial services sector:
- Super-apps that integrate multiple services into one platform
- Advanced payment solutions for easier transactions
- Wearable computing and biometrics for secure, seamless access
- Core banking transformation to enhance backend processes
- AI-enabled customer service for personalized support
For instance, by applying Cloud AWS capabilities, an international bank built Spain’s first digital bank in 9 months. Complete digitization reduced account opening time from 24 days to 20 minutes.
The Role of Globant Finance Studio
Globant Finance Studio is pivotal in helping organizations craft these connected experiences. By collaborating with AWS, Globant designs and builds state-of-the-art solutions tailored to business ecosystems. Our aim is to drive innovation that expands into a hyper-connected lifestyle, transforming not just businesses but also customer experiences and lives.
At Globant, we’re passionate about innovation and committed to delivering surprising and valuable solutions with every project. Together with AWS, we are reshaping the future of finance—one connected experience at a time.
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