Read below Profile Software's latest articles on key industry trends and developments. You can either read the article online or download it, providing your details
What are the main concerns of Treasurers today?
Summary
Over the past years, Treasury departments have been greatly affected by the continuous changes in regulatory frameworks as well as from socioeconomical parameters. These could range from remote access and automation to Libor changes. Technology plays a pivotal role...
How well prepared are banks for the next crisis?
Summary
The banking sector has been affected by a number of changes in the past decade. The pandemic is only a recent one. It arrived shortly after the credit crisis. Was the industry prepared to deal with this new crisis? What were the lessons learned from two seemingly unrelated events? Profile reviewed and elaborated on this topic...
Why is digital customer onboarding so important in banking?
Summary
New banking customers are expecting to open a new checking or savings account remotely by using their laptop or mobile device. According to the special report published by BAI three-quarters of Millennials say they would switch banks for a better mobile experience by 2020, while Gen Xers' appetite to use digital methods to open bank accounts for savings and loans is rising.
Discussing top trends in 2022 for the Wealth Management sector
Summary
Post-pandemic creates opportunities for Wealth Managers and Family offices, according to a recent study by Capgemini. The great wealth transfer leads to actions such as hyper-personalisation so as to target the new age investors.
Is Digital Banking important for you?
Summary
Nowadays, banking is fully digital, covering more than what was available via the traditional bank channels, till now going beyond phone banking and e-Banking.
Headless architecture in the banking industry
Summary
”Headless architecture means wrapping up all the business logic and functionalities in a set of APIs, which are powered by the specialised backends and make them available so that any front-end channel can hook into these APIs and provide the customer experience desired...
Treasury practices post-pandemic
Summary
Treasury practices have been transformed over the past year to cope with the disruption caused by the pandemic, accelerating the adoption of more advanced technology solutions and modus operanti.
Has the pandemic changed the way we manage investments?
Summary
The Private Banking and Wealth Management industries have experienced a turbulent year. At the same time, with a new group of people looking to leverage their assets in investments...
Banks enhance UX through digital technologies
Summary
The pandemic has accelerated digital transformation in banking, leading banks to faster adopt new digital delivery models...
Meeting the challenges of the New Treasury era
Summary
In the post covid era, the need of treasurers to automate their FX processing lead to faster, more transparent, and accurate foreign exchange transactions.
APIs and real-time Treasury evolution
Summary
Real-time treasury is fast becoming a reality as greater levels of transparency and forecasting are required. The evolution of instant payment infrastructures worldwide is altering the liquidity landscape and creating the need for treasury processes and controls to turn ‘real-time’ ensuring that cash is being managed effectively.
Exploring AI in Wealth Management
Summary
Much has been discussed and published on the use of AI, RPA and ML for the benefit of the Wealth Management industry. The Robo Advisory evolution is a pragmatic and real trend with firms deploying or delivering such services.
2020 to be a milestone year for banks
Summary
This year, technology will continue to be the main driver of disruption in the banking industry through the evolution of machine learning (ML), blockchain, quantum computing etc. as digital transformation is evolving the way banking is done, according to Deloitte’s study...
Deploying ‘Industry 4.0’ technologies in Treasury
Summary
Bank Treasury is facing an optimisation challenge to deliver significant returns on banks’ digital investments, generating long-term competitive and financial advantages, in an increasingly regulated environment.
Trends in Banking
Summary
Research shows that digitilisation is a fact for the financial services industry, especially in banking. In Deloitte’s study, 2019 Banking and Capital Markets Outlook: Reimaging Transformation, 28% of the surveyed banks’ CIOs stated that the most important technology area to the organisation is to create digital capability, 23% want to modernise legacy systems, and 18% to manage security, identity and privacy.
Wealth Management gains from AI developments
Summary
Artificial intelligence is set to transform businesses in ways we’ve not seen since the industrial revolution. The digital era is evolving in the wealth management sector, leading to a dynamic increase of AI and robo-advisory tools.
Open Banking: Growing in customer trust in 2019
Summary
Over the past year of its implementation Open Banking remains a key concern of Banks given the regulatory environment, the changing consumer patterns and the new Fintech firms. It is becoming a need for Banks to embrace digital transformation in this area to achieve more profitable operations.
Enhanced Customer Onboarding is a Wealth Management Priority
Summary
Differentiation in delivering advanced customer experience in the Wealth Management industry is becoming of paramount importance, as the offering is niche and the market needs are constantly changing. To effectively address competitive challenges, Wealth Management firms tend to deploy technologies that stipulate the uniqueness and personalisation of their customer service.
Marketplace Lending evolution and expandability
Summary
As with every trend, Marketplace Lending has evolved into different shapes and sizes, ranging from P2P Lending platforms gaining banking licences to actually collaborating with established Banks to enhance the offering of both. The regulatory environment around this is also evolving to better protect customers, providing guarantees where needed to ensure longevity and good business procedure.
Regulations can transform banking tech strategy
Summary
Regulatory changes and technological innovations lead banks to transform their business models to better manage risk, enhance client service and thus remain competitive, flexible and agile.
The evolution of Treasury Management in the FinTech era
Summary
The rising challenges of FinTech trends, the global rise in financial regulation and international expansion of financial operations are driving the Treasury departments in banks to remodel and integrate their activities. This shift is mostly affecting the areas of automation and straight-through-processing (STP)...
Robo Advice and beyond. What are the gains?
Summary
Regulatory changes and the emergence of digital entrants into the wealth management space have indeed affected the industry in several ways. These along with the business objective of expanding the potential client base through the provision of better and more affordable services and improved client experience lead to seeking more suitable operational models.
Innovative solutions for the banking and wealth industry
Summary
Kostas Kotsiopoulos, Chief Commercial Officer spoke to Hubbis on how Banks and Financial Institutions can provide advanced client experience and make their operations more agile and digitally-focused, so as to enhance their competitiveness and profitability with Profile’s innovative solutions.
The Next Generation of Treasury Management Systems. Why select one?
Summary
The modern treasurer lives in a connected world, having to deal with real-time market information, make immediate decisions and manage a large number of banks, subsidiaries and providers. Yet, many treasury platforms may still lacking the ability to provide collaborative instantaneous work due to limited features, or to secure and centralise all financial data and flows, because of outdated technologies and slow evolution.
Keywords: Treasury Management System, 10 steps to review, Real-time management of Treasury operations, Project Management Implementation, Savings over a missed payment
Profile @ The Telegraph
Summary
The Financial services industry faces a lot of challenges in terms of regulation, compliance, and profit margins. The increasing pressure from regulators along with the need to automate processes within the organisation are best met with the use of the right software that can make operations more agile, allow easy compliance to changing regulatory requirements and ultimately offer a competitive client experience that could lead to higher margins.
Keywords: FinTech solutions, Customer experience, Mobile - Online Wealth Management Communication, Regulatory Concerns, Market Trends in Financial, Wealth Management Software, Alternative Finance Software, Digital Banking Software, Flexible Software Solutions
Wealth Management as a Service
Summary
The past few years have seen great strides by as-a-service, cloud-based solution providers. Several industries have already shifted significantly in this direction with notable success in the areas of CRM, Training & Competence and Business Intelligence tools.
Keywords: Wealth Management Software, Cloud-based solutions, Security, CRM, Business Intelligence tools, Flexibility
Making Wealth Managers ready as time for MiFID II deadline approaches
Summary
The regulators have been clear in communicating the instruction that they expect best efforts to be made to comply with the fast approaching 3rd January 2018 deadline for MiFID II. Whilst an army of consultants have spent months explaining the challenges and interpreting the regulation, now is the time to move to the next phase if you have not already done so.
Keywords: MiFID II deadline, MiFID II Wealth management Software, Third-party fees, Product Governance and Sales, Best Execution and Algo Trading, Financial Advisory report generation software, Risk profiling software, Client reporting software, Client onboarding and KYC software
MiFID II Impact on Wealth Management
Summary
Much has already been written about MiFID II, but one area that has some very specific challenges is the Wealth Management industry. Whilst a great deal of the focus has inevitably been on new trading venues and the coverage of new asset classes, there has been less focus on the profound impact that MiFID II is likely to have on Wealth Managers and their customers.
Keywords: MiFID II requirements, Regulatory Requirements, Wealth Management Software, Suitability reports software
FinTech supporting Digital Banks
Summary
Undoubtedly the Financial Services Industry is significantly affected by the FinTech evolution. Alternative finance firms, digital and challenger banks, P2P Lending platforms as well as traditional banks adopt new technologies in order to better serve their clients.
keywords: challenger banks, digital banking software, Core banking software, Global FinTech Survey, Payment systems
Life After Brexit
Summary
An interesting read prepared by Rajiv Jaitly, Managing Partner of Jaitly LLP, in reference to the Brexit implication in the Financial Services industry.
Key words: Brexit, City of London, FCA concerns, European Asset Management, Robo-adviser, cloud-based, web-based software solutions, Opportunities
The evolution of the Wealth Management requirements in the digital era
Summary
It is without a doubt that the Wealth Management domain has progressed in every sense over the past years to engulf new technologies in order to accelerate their sales objectives and comply with the regulation.
Keywords: Wealth Management Software, UK Wealth Management Firms survey results, new technologies, new trends in Wealth Management
FinTech - A Fast moving trend
Summary
According to the recent Capgemini and Efma’s world banking report based on a global survey of retail banking customers in 32 countries an interesting finding is that “46% of banks plan to collaborate with FinTechs, but only 13% believe their core systems can handle the technical demands of partnerships. Many in the financial services industry believe partnering with FinTechs is the best way to avoid disruption."
Keywords: FinTech trends, Digital Banking trends, Online and Digital Banks, Technology
FinTech - Fast moving force for Islamic Financial Intermediaries
Summary
The evolution and widespread applicability of FinTech development is a paradigm shift for the banking sector. Keeping up with its pace should be a matter of concern for every entity which is likely to be affected.
Keywords: Islamic Finance, FinTech organisations, Crowdfunding firms, Disrupting technology trends, Alternative Finance Software
Islamic finance evolving
Summary
Islamic finance has significantly evolved over the past decade, as this is also apparent by the number of Islamic financial institutions and the number of people preferring this way of banking.
Keywords: Islamic Banking, Islamic Finance, Alternative Finance Software
Technology disruption and innovative future trends
Summary
It is widely accepted that over the past few years, Islamic finance institutions and start-ups in this domain are required to provide new services and alternative options, while differentiating their service offerings.
Keywords: automated wealth management platforms, KYC capabilities, Wealth Management Software, Robo-advisors
The crowdfunding “phoenix”: The rise of a ‘trend’ to a ‘sector’ and the challenges ahead
Summary
As it is widely perceived, the result of any crisis, creates an opportunity for new business models to rise. This seems to be the alternative finance concepts that has burgeoned as a result of the difficulty of getting funded via traditional financial services channels, something like a ‘phoenix’ rising from the ashes of tight financial models.
Keywords: Crowdfunding trends, Crowdfunding software, White-labelled Solution, future-proof functionality
