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Banking and insurance

Digitalisation in finance is not new, innovation and a rapid pace of change in banking and insurance has always been relevant. The technology responsible for accelerating, securing and improving the operations of financial entities is on track to exceed $305 billion by 2025. All of these new innovations can benefit both consumers and businesses by enabling greater access to financial services, offering greater choice and increasing business efficiency.

A cost-effective delivery

With our experience comes the ability to prioritise so that you get value for money.  We know that successfully updating legacy systems requires banks to change processes, engagement, digital skills in boardrooms and management.

Functional end-to-end solution

Euvic covers the entire process, ensuring you get a total solution that works for you. From setting requirements to helping you automate and optimise security.

Flexible and fast deliveries

With good processes and good people, we can be both fast and flexible, which is now more important than ever. Avoid long feasibility studies and complicated projects, get started with your digital sales right away.

Challenges we see in banking and insurance:

Old – Legacy systems

The biggest challenge facing older banks is their legacy of old IT systems. Consumers are now used to fast, personal, secure and always available service. Banks that do not update their legacy systems risk losing existing and new customers to newer fintech companies. It’s not just the code that needs updating. It means banks need to change processes, engagement, digital skills in boardrooms and management.

Simple investment decisions – Big Data

You need to be able to analyse large amounts of data, optimise investment portfolios and create automated investment strategies. All this also needs to be done dynamically and allow for real-time portfolio changes. This will help you and your clients make investment decisions more efficiently than ever.

Daily customer service – Mobile application

As with retail, customer experience requirements have increased. Customers expect the same experience whether they are in a bank branch, on the website or logged in via an app. Your products need to be available day or night with minimal friction for the user. That means easy and secure login without extra bank boxes or paper. Mobile banking is no longer an option, it’s a necessity – and a standard that must be met to remain competitive.

Fast, simple and integrated platform

The loan application process doesn’t have to be long and cumbersome for your customers. By implementing a loan platform, you can present them with real loan products in an accessible way. You guarantee full funding while your customers can easily choose what suits them best. Similarly, businesses today need advanced solutions. One of them is virtual bookkeeping, for example via a mobile application that allows full remote communication between the accountant and the company. Whatever the service, it needs to be a seamless experience preferably integrated with already established banks.

Innovation – AI, Automation and blockchain

Artificial intelligence in the financial sector is not an accident, but a necessity. Without it, the most important innovations we see today would not have been possible, suggesting that today there is no other option for today’s financial institutions.

Automation is also a necessity for the banking and insurance industry as they have very many manual and repetitive processes that need to be modernised. These manual and repetitive processes cost an enormous amount in maintenance.

Blockchain makes it possible, among other things, to create new generation solutions for secure transactions directly between users, without intermediaries. It has revolutionised the way business is conducted around the world, showing its full potential, especially in the financial industry.

Euvic perspective

By choosing a partner like Euvic to execute your backlog and roadmap, you also gain access to experience from across Europe. With our large pool of system developers, we can build anything you might need. We place great emphasis on customer satisfaction. That’s why we offer a Satisfied Customer Guarantee, which means you get your money back if the defined delivery doesn’t deliver what we promised. Long-lasting customer relationships, where you can feel confident that you will receive a high quality result, is something we always strive for.

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