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Technology in Financial Services

by Blog Author Telkom ‎23-11-2015 01:56 PM - edited ‎26-11-2015 11:11 AM

Financial

 

“Thanks in part to the development of mobile banking, the sale of products either transacted online or influenced by online marketing is expected, in the medium term, to grow to the point where they represent roughly 60% of the total.” – McKinsey & Company 2015

Financial services providers in South Africa operate within a highly competitive industry, with a few major players dominating and competing for market share. In order to remain relevant and retain customers, banks and insurance companies have to ensure seamless operational efficiency, a solid marketing strategy, excellent customer service, and the ability to innovate and adapt to the changing needs of the market. In order to achieve this, financial service providers are becoming increasingly reliant on technology, and are implementing digital strategies in order to achieve their business goals.

The move to mobile banking has been one of the great drivers of digitalisation in these industries, and Telkom Business has developed a range of solutions to help banking and insurance institutions make the transition to a more sustainable, digital business model.

 

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