Participating in a business process (Intermediate)
The key business requirements for financial services from a business point of view are:
- Payment processing
- Transaction management
- Fraud detection
- Ability to track and monitor business processes from start to end
- Escalation
- Risk and change management
- Reduced total cost of ownership
- Higher return on investment
- Service-level agreements with partners and customers
- Meeting compliance and regulatory requirements
- Enterprise growth in terms of people and process volumes
- Geographical expansion
- New diversified businesses under a single enterprise
The hurdles and bottlenecks for financial services from an IT point of view are:
- Silos of data
- Outdated IT system and many applications running on legacy and non-standard based ...