Globalization has increased the complexity of management and operations for financial service IT systems, due to competitive threats from new, nontraditional entrants to the market. Financial services institutions are embracing digital transformation to work smarter, better, and faster to maintain regulatory compliance, reduce risk, increase productivity, and exceed customer expectations, according to the Financial Services Institute. Financial Services Institutions are embracing the digital transformation of their IT systems to meet regulatory compliance and meet customer expectations. Financial Services institutions are also embracing digital technology to maintain compliance and reduce risk and increase productivity.”]
Source: https://www.bankinfosecurity.com/whitepapers/five-benefits-automation-for-financial-services-w-6399