Making data an asset in the financial services industry

Justin Harris from Binary Tree explains that an organisation’s data repository is now a strong financial asset to help fuel future growth. Effective data storytelling and insight helps to bring the consumer closer all the while introducing new revenue streams

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By Guest on 02 November 2017
Making data an asset in the financial services industry

This article first appeared in the Autumn 2017 issue of The Record.

Organisations find themselves chasing ever increasing complexity to keep up with the rapid pace of technology. As technology is leveraged to solve new business problems, the requirement to plan, implement and manage increases linearly in both time and complexity. Change is the one constant found within the rapidly evolving technology landscape. The proliferation of mobile, cloud computing and cloud-based regulatory requirements highlights the need for data-driven decision making, data transparency and data privacy. The use of business intelligence, predictive analytics and artificial intelligence (AI) to provide actionable insight factor heavily into the near-term success of a financial organisation’s digital transformation efforts.

Overlaying predictive analytics helps provide deeper insights into existing platforms to drive operational efficiency and effective decision-making. Business value is introduced through solving problems that deliver increased insight to obtain competitive differentiation, market intelligence and user context.

Binary Tree has fully embraced Microsoft technologies thanks to the unique value proposition that is delivered to the financial sector through the Microsoft Azure cloud platform. Microsoft Azure is the key enabler to run our cloud business on a global scale, seamlessly meet global demand and operate within the confines of a financially efficient business model. It also gives us the dexterity we need to deliver resources to meet the real-time consumption demands of our customers.

The once capital-intensive cost model now leverages a consumption model that allows us to dynamically scale to meet real-time high-volume workloads. Reducing these costs has allowed Binary Tree to build a transformative cloud-based day-one integration platform to unlock new business opportunities for financial organisations.

Aligning with an enterprise partner like Binary Tree unlocks the ability to successfully navigate digital transformation projects all the while keeping up with the aggressive rate of change in our industry.

Binary Tree’s experienced data professionals have a proven track record helping financial institutions produce targeted high-value business outcomes through comprehensive identity and collaboration solutions that inject business value and drive operational efficiency.

Justin Harris is manager of product architecture at Binary Tree

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