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Banking Industry Technology | Banking IT Management

Banking Industry Technology

Banking IT Management is changing…

G&G Technologies provides customer banking industry applications as well banking IT management services. Our highly skilled team of engineers can develop and manage sophisticated banking system applications and technologies. The vision of the bank as a utility and holding only those sections of the chain best delivered in larger volumes, however seeing a more traditional and differing business slipping away to digital players which specialize in a smaller link in flexible, heterogeneous, and complete value chains. Financial institutions that have already embraced computer automation,share a common belief that computers are the best possible candidates for managing other computers. Human resources are both capital as well as labor intensive…and are prone to failures that can cause security risks or audits, especially actions that involve mundane or routine tasks. Computers can be easily programmed to handle the mundane, day-to-day tasks associated with IT management. For banks,computer automation ensures expansive coverage across all branches and locations, regardless of the institution’s size or reach. It is just as germane for a bank with a handful of branches in one state as it is for a national conglomerate with thousands of locations.Whether it is managing a single computer or 100,000 desktops,computer automation does the job well, the first time.

The banking industry can learn alot from…

the health insurers that in recent years have managed to transform their reputations from humorless loss indemnifiers into digital lifestyle assistants, creating incentives for people to live healthier lives for mutual benefit through social apps, gamification, and, most importantly, analytics, on customer data that can be fed back to those customers in a variety of useful ways: comparing their fitness activities or driving habits to peer groups, or showing progress over time or toward a goal.

The economic crisis of 2008 caused a significant, and worldwide, downturn

in customer satisfaction, trust, and loyalty in the banking industry. Combined with an ever-increasing use of mobile devices and a growing number of startups offering financial services, line-of-business leaders are desperate to implement digital technologies to the customer. This is often without the support of enterprise IT leaders as regulatory compliance and risk management have become the first priorities for most CIOs as a result of the same crisis. The proposition is borne out by the results of the survey. 44% of respondents to industry surveys indicate that digital transformation remains a front-office initiative aimed at improving customer experience. About half that number of banks, 20%, reported that their digital transformation included primarily infrastructure work, and only a quarter overall answered that digital transformation was, for them, an enterprise wide program meant to redefine their business.