| | June 20176CIOReviewThe emergence of new operational models and growing investments in technologies for higher optimization have started instilling a re-think within the brains of banking realm--an adoptive mentality towards radical technical and business changes.Today, the finance industry has evolved into a powerful nexus of out-of-the-box thinkers who are promised to infuse the banking eco-system with 'Digitization' to promote automation by leveraging nu-age trends. Crowdfunding, peer-to-peer lenders, mobile payments, bitcoin, blockchain, and robo-advisers--there is no holding back to the diversity of these "Fintech" innovators. These are fast-moving companies, often start-ups focused on specific innovative technology to deal with anything from paying with a simple tap or limiting frauds using AI and other defensive algorithms. Thanks to the quick turn-around time and tangible outcomes, they have started penetrating some of the most promising constituents of the financial services value chain.Meanwhile, apart from just seamless banking experience, customer expectations have remarkably matured today; becoming more concerned about information security, unbundled services, instant decision-making, and other service enhancements. Several start-ups are counting on public cloud infrastructure to replenish the aforementioned gaps--adopting CRM, HR, and Financial Accounting in the cloud to handle customer relationships, and `point-solutions' for multifactor authentication and KYC verification. It's the time for financial executives to bank on IT to encourage game-changing innovation in core areas such as payments, credit scoring and billing, and other kinds of account functions which are on the verge to become utilities in no time. In today's world of adeptness, there is very less chance that only implementation of technology or significant investment in revamping the existing infrastructure will keep the boat sailing. A unique strategy which brings together the quintessential factors of the digital approach--automated processes, improved regulatory compliance, and revamped customer experience--will make revenue flow to institutions. Partnering with technology vendors to test new products and disrupt the primal aspects of the value chain is the key to success. As financial institutions start seeing the first light of digitization, CIOReview identifies niche players in the financial arena whose prominence can bring about a paradigm-shift in the service realm.Hope this issue would help you find solutions which can cut through any roadblock using the new found power of digitization.Copyright © 2017 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewJUNE - 14 - 2017Mailing AddressCIOReview44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 June - 14 - 2017 Vol 06 SE 61 Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com FINANCIAL SERVICES SPECIALCIOReviewEditorial StaffSalesT: 510-996-5126 Carolynn Walters Lauren AndersonJasmin AlicSarah FernandesRussell ThomasJessica Stanleyjessica@cioreview.comVisualizersChetan.N Asher BlakeManaging EditorJeevan GeorgeEditorialDigitization--Power to Financial IndustriesAlex D'SouzaJeevan George Managing Editoreditor@cioreview.com
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