Finance Industry Expertise | Modis

Finance

Competition in Finance increasingly revolves around improving user experience, carefully ensuring corporate compliance and the provision of cheaper, more efficient services.

4,000
45%
$512bn

Armed with their smartphones, consumers are switching to digital money: a tremendous opportunity to financial institutions. 

This also offers the opportunity to shave billions off of transaction costs and improve the accuracy of their data collection.

Finance companies will require support from partners, across both consulting and outsourced services, to make good on meeting elevated consumer demands while simultaneously ensuring careful national and regional compliance.

Three broad trends are coming up: 

1. The rise of Fintech

Developments in Fintech have started to shake up financial institutions operating in consumer banking, investment, mortgages and life assurance.

Improved end user interfaces and access to banking information and financial instruments having given consumers greater control over their finances. Differentiation will be defined by usability as much as by cost.

Financial Services companies have adapted by either attempting to innovate on their own terms or acquiring promising start-ups. In either situation, our Consultants can assist in modernising your systems to bring new capabilities to existing services. We can take the whole design and development of new products into our own Centers of Delivery to help you maintain your innovative edge.

2. Adopting data-driven techniques

Increasing quantity of data and improved analytical techniques are giving finance companies a new understanding of behavioural triggers that improve Customer Lifetime Value. Understanding how to manage and integrate the vast, disparate data sets that support these activities is crucial to being able to process those data in worthwhile ways. This understanding also minimises the risk that data is incorrectly interpreted.

In the context of regulatory changes affecting data management, such as the EU’s General Data Protection Regulation, this is of supreme importance.

Meanwhile, the improved use of Machine Learning and modelling is giving the industry ways to understand our spending and earning patterns better than we do. Automated bill paying, saving and overdraft-protection tools will become a way of life.

We have more than 5,000 Consultants and Associates with specialisms ranging from mobile solutions, analytics, database management, integration, cloud and automation. Depending on your requirements, we can deploy the right team for your needs or take on new development and innovation projects ourselves.

Distributed Information

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It's almost clichéd to say that the big trend on the horizon is the rise of the blockchain. It's almost clichéd to say that the big trend on the horizon is the rise of the blockchain. The fluctuation of Bitcoin markets, alongside other blockchain-powered currencies, was one of the biggest finance stories of 2017. It could pale into insignificance if the technology achieves its promise: cheaper, seamless, highly trustworthy, automated transactions are the biggest benefits. But properly integrated, the “public ledger” could help protect intellectual property and act as identity verification services.
We manage large operations across multiple technologies required in creating and maintaining blockchain services, including Cloud Services, Integration and Analytics.

<h3 class="intro-block__heading headline headline--large" style="box-sizing: border-box; clear: both;">Innovating together in Finance<br></h3>

The new applications of technology across Finance are providing consumers at all levels with a fresh interface with traditional institutions. 

We're eager to bring our cross-disciplined expertise to the challenges facing the industry. 
We have the capabilities to partner with you across your product and service development cycles. These range from providing you with individual Consultants and teams of experts delivering a business outcome and outsourced services that take on entire business functions.