Driving Performance In Finance With Data-Driven Insights

In this digital age, the finance sector faces unprecedented opportunities and challenges. The market is highly competitive and dynamic, with newcomers and disruptors offering innovative products and services. Meanwhile, business leaders and consumers alike must make informed decisions on a regular basis for their everyday needs. As such, technological investments need to deliver value and efficiency, while enabling agility and innovation.

How can finance organizations overcome these challenges and thrive in the digital economy? The answer lies in harnessing the power of data and analytics to drive performance and growth. Data-driven insights can help finance organizations create differentiated customer experiences, optimize operational processes and make strategic investments that align with their goals and vision.

Harnessing Data for Strategic Decision-Making

According to Money 2020, we are now creating the building blocks of FinTech 2.0. In the next three years, it’s predicted that banking tech stacks will be predominantly cloud-based to simplify and meet the needs of a growing digital consumer base. This will support a projected growth of 20% in eCommerce transactions fueled by more advanced personalization in retail transactions.

In addition, data and how it’s used have evolved. Starting from random and sporadic data projects that relied on luck, computers made it possible to grow small-scale data, then to basic analytics, and then to AI and Big Data today. In the future, there will be a change from Big Data to Good Data driven by consumer demand for control, regulatory demand for security and business demand for ROI. Good Data will create the most value in the ecosystem.

But data alone is not enough. You need the right solutions and expertise to collect, process, analyze and act on your data in real time, across distributed environments. You need solutions that are fast, reliable, secure and scalable. You need solutions that can bridge the gap between your legacy and modern applications, and between your digital and physical footprints. You need solutions that can help you minimize complexity and maximize performance. You need Lumen.

How Lumen Can Help You Drive Performance with Data-Driven Insights

Lumen is a leading provider of network, edge cloud, security and communication solutions for the finance sector. We can help you leverage data and AI to power personalized experiences that delight your customers, while protecting their sensitive data and meeting regulatory compliance.

Here are some of the ways Lumen can help you drive performance with data-driven insights:

• Building a digital-first infrastructure – Finance will move from upgrading legacy infrastructure to creating a digital-native infrastructure. This move could have significant impacts for both commercial (i.e., treasury and wholesale payments) and consumer (i.e., ID and fraud management) sides of the business. In undertaking massive projects, you can’t risk downtime or compliance issues—as such, you will need the expertise to plan and navigate a smooth rollout from start to finish.
• Speed is the name of the game – In a world where decisions need to be made in a flash, having intelligence and information at your fingertips is business critical. Being able to access applications securely in real time, from any device and location, is crucial for leaders to enable fast strategic decisions and handle real-time transactions. Lumen can help you leverage its expansive, highly peered network, which can deliver fast and reliable customer experiences at your locations.
• Every transaction is unique – Day-to-day transactions come in different sizes and frequencies—from your daily morning latte, to paying your vendors for the last purchase order, to making the next strategic investment and more. Using data and AI to create customized digital experiences, relevant content, offers and recommendations can help you build long-term loyalty. Lumen can help you integrate your legacy and modern applications and provide a hybrid platform that supports your cloud and on-premises environments.

Don’t let legacy apps affect your ability to make the best-informed decisions to grow your business. Lumen can help you build the seamless and real-time, data-driven network your business needs to win.

Read our interactive guide to AI in financial services for expert insights on how to get your infrastructure ready for the demands of digital transformation and growing customer expectations. 

^{This content is provided for informational purposes only and may require additional research and substantiation by the end user. In addition, the information is provided “as is” without any warranty or condition of any kind, either express or implied. Use of this information is at the end user’s own risk. Lumen does not warrant that the information will meet the end user’s requirements or that the implementation or usage of this information will result in the desired outcome of the end user. All third-party company and product or service names referenced in this article are for identification purposes only and do not imply endorsement or affiliation with Lumen.}