Banking and Financial
Banking and Financial Services
Banking and Financial Services Industry is dealing with tough macroeconomic conditions, higher regulatory scrutiny, and the rise of non-traditional competitors. As a response to the changing market dynamics, banks are transitioning from a product-centric approach to a customer-focused one. Transform Hub’s Banking and Financial Services for the BFS industry enable you to offer superior customer experiences & competitive business models, at the same time delivering extreme operational efficiency.
As a digital banking solution provider, TransformHub offers a full array of digital banking services—that connects you to your end customers through multiple digital channels. TransformHub’s Technology Solutions for the Banking and Financial Services (BFS) industry will provide immense value for your organization through innovative engagement models, transformative approaches, delivery excellence, a reliable thought partner ecosystem, and a world-class digital team.
Who We Serve?
Banking, Wealth Management & Credit Cards
TransformHub focuses on helping retail, commercial and credit card companies find the most valuable customers for every product through digital customer acquisition, advanced analytics and domain-focused solutions.
TransformHub partners with investment banks, asset manager, custody and fund administrators and brokerage firms need to drive profitability, accelerate client onboarding time and reduce cost to serve, which requires transformation across the front, middle and back offices.
Non-Banking Financial Institutions
TransformHub supports FinTech, rating agencies, and credit bureaus, with the adopting digital shared services models that leverage analytics, automation and cloud platforms to streamline operating costs.
Opportunities & Challenges
in the BFS Industry
BFS industry is set to grow significantly in the coming years
• Due to current Covid pandemic setting up new normal around digital banking and transactions
• Due economic expansion and growing awareness among the population about financial products/services
• The industry has adopted IT as an integral part of business strategy, where TransformHub is well-positioned to provide various services on such IT platforms
• High supervision by regulators will require constant vigilance and need to adopt measures to mitigate risks based on various control measures
With these opportunities, BFS industry of today has following areas to look at:
• Digitise as much as possible
• Offline banking and financial transactions will happen more. So, security, compliance and risk needs to be managed well.
• Online digital load on applications, so effective use of Hybrid cloud and governance policies around the same