Assuras
Financial Services
Digital transformation is upon us - and banks are feeling it. It's time to think outside of the box - fintech can make you or break you. Using innovative technology to push for innovation in customer service will make all the difference between being first or last; Assuras understands this, which is why we're here to help you lead the charge towards change.
15%
In 2021, measured in terms of capability, 15% of Assuras' revenue came from the financial services industry.
65%
The average return on investment (ROI) Assuras has been able to deliver clients in financial services is around 65%.
Most Recent FinTech Statistics
➔ Fintech is currently worth US$187 billion and is expected to grow to be worth US$26.5 trillion by 2022. This industry has a CAGR of 6%.
➔ Fintech unicorns are now worth over 1% of the global financial industry. In a 2015 Goldman Sachs study, it was estimated that fintech may eventually disrupt up to US$4.7 trillion of revenue that traditional financial services now make.
➔ 60% of credit unions and 49% of banks in the U.S. believe that fintech partnership is important.
➔ One of the biggest fintech products is digital payment, which holds 25% of the fintech market.
Our Contribution — Services
Some of the services Assuras can provide in the fntech and fnancial services sector include:
- Consulting on fntech and fnancial services regulatory compliance
- Assistance with the development of fntech and fnancial services products
- Provision of legal advice on fntech and fnancial services matters
- Advising on fntech and fnancial services marketing and advertising compliance
- Conducting training on fntech and fnancial services regulatory requirements
- Assistance with the preparation of fntech and fnancial services licensing
Current State of Industry
In recent years, there has been a shift in the fnancial services sector towards
digitalization and automation. This has been driven by a number of factors, including the increasing use of mobile devices and the need for faster and more effcient services. In addition, there has been a growing demand for personalized and customized services. As a result, fnancial institutions are investing in new technologies, such as artifcial intelligence (AI) and big data, to improve their customer experience.
The fnancial services sector is facing increasing regulatory pressure. In response, institutions are investing in compliance management solutions to help them meet regulations.
Finally, the sector is also dealing with a number of challenges, such as the increasing costs of customer acquisition and the need to provide better customer service.
Future Prospects
The future prospects of the fnancial services sector are looking very bright for companies. The industry is constantly evolving and changing, and new technologies and products are constantly being developed. This means that there are always new opportunities for companies to grow and expand their businesses. The fnancial services sector is also becoming increasingly global, so companies that are able to operate in multiple countries will have a competitive advantage.
Role of Talent Management Consultancy in Modern Businesses
Talent management consultancy has emerged as a pivotal force, reshaping how organizations attract, develop, and retain top talent. This transformation is underscored by a recent
How to Measure Employee Engagement Metrics (5 Methods)
Employee engagement is a vital indicator of a healthy workplace. It’s not just about job satisfaction; it’s about how invested employees are in the company’s
Employee Engagement Action Plan: A Strategic Approach to Increasing Productivity and Retention
Employee engagement has become a top priority for many organizations. Studies show that companies with high levels of engagement outperform their competitors in key areas
Assessing Organizational Culture: A Blueprint for Driving Growth
Organizational culture encompasses the collective behaviors, assumptions, values and norms that influence how work gets done. It shapes everything from communication and collaboration to the
Organizational Culture: A Deep Dive into its Layers and Impacts
Organizational culture, often referred to as the “DNA” of a company, dictates how employees interact, make decisions, and approach their work. In modern corporations, where
Complexities of Post-Merger Integration: A Comprehensive Framework
Mergers and acquisitions (M&A) are often seen as the epitome of corporate strategy, offering companies the opportunity to expand market share, acquire new capabilities, or
How to Develop an Effective Integrated Communication Plan: A Step-by-Step Guide
Integrated Communication is a strategic approach that synchronizes and coordinates various communication channels—such as public relations, marketing, advertising, and social media—to convey a consistent and
How to Craft a Change Management Communication Strategy: A Step-by-Step Guide
The success of any organizational change is heavily dependent on how well it is communicated within the company. According to a Towers Watson study, ineffective
How to Improve Operational Efficiency in Retail: A Comprehensive Guide
The retail industry is characterized by increasingly slim profit margins, intense competition, and highly informed customers with ever-changing expectations. In such a high-stakes environment, operational
The Importance of Product Lifecycle Management in the Pharmaceutical Industry
In an industry where the stakes are sky-high, every second and every cent count. The pharmaceutical sector is a giant maze of intricate processes and
Quantitative vs. Qualitative Approaches in Supply Chain Risk Management
According to a survey conducted by the Business Continuity Institute, nearly 70% of companies experienced at least one supply chain disruption in the past year,
Key Elements for a Successful Lean Visual Management System (Explained)
Lean Management Philosophy has been a transformative force across multiple industries, from manufacturing to healthcare. Central to this philosophy is the concept of “visual management,”
Navigating the Landscape of Mergers and Acquisitions in the Pharmaceutical Industry: Trends and Insights
The pharmaceutical industry is undergoing significant changes, with mergers and acquisitions (M&A) playing a pivotal role in shaping its future. Understanding the motivations behind these
Cultural Integration in Mergers and Acquisitions: Navigating the Path to Success
Mergers and acquisitions (M&A) have gained substantial popularity as strategies for organizational expansion and growth. However, despite their prevalence, fewer than 20 percent of these
Banking Transformed: Embracing Operational Efficiency for Competitive Edge
Operational efficiency is the backbone of success in the modern banking sector. As financial institutions navigate a rapidly changing landscape, the ability to streamline processes,
10 Change Management Strategies for Successful ERP Implementation
Enterprise Resource Planning (ERP) systems play a pivotal role in modern business operations, enabling companies to streamline processes, improve efficiency, and enhance decision-making. However, implementing
M&A Due Diligence | Preparation, Types & Detailed Process
Mergers and acquisitions (M&A) are complex transactions that involve the consolidation of two or more companies to create a larger, more competitive entity. However, before
Change Advisory Board Roles and Responsibilities (Explained)
Change Advisory Boards (CABs) are an essential part of the change management process. They provide support to change management teams by advising on requested changes,
Consumer Products: How Technology and Social Media are Reshaping the Way We Shop
In the past decade, there has been a dramatic shift in the way consumers shop for products. With the advent of technology and social media,
How Merger and Acquisition Trends are Reshaping the Banking Sector?
Mergers and acquisitions (M&A) have been a common strategy for banks to expand their operations, acquire new capabilities, and stay competitive in the market. In