Finantrix Insights

Deep and actionable insights of the business of Financial Services


KYC Considerations in Digital Account Opening Transformation


How does one balance the KYC Considerations in Digital Account Opening Transformation? It is evident that financial services firms need to up their digital game and transforming account opening capability is one of the essential items in this digital age where customer experience reigns as the supreme challenge facing enterprises. [...]

Making Account Opening Digital Transformation Successful in Financial Services Firms


Making Account Opening Digital Transformation Successful in financial services companies or any other industry for that matter is not an easy task. The statistics about the success rates of digital transformation projects range from 50% to 84%. As we all know by now, everyone is doing digital now, and nearly [...]

Unified Managed Household Accounts Trends


What are the Unified Managed Household Accounts trends for the future? Do they augur well for the concept or is it being diluted and frittered away in all the Fintech hype and hoopla? Financial services professionals hear one question from their clients more often than any other: "Why can't you [...]

Fintech Unicorns


So-called FinTech Unicorns, startup companies valued at more than $1 billion, earned that moniker because they were rare. However, that’s no longer the case. As of September 12, 2016, there were more than 175 Unicorns worldwide, worth a staggering $625 billion. At first glance, this might be interpreted positively – [...]

Financial Advisor Workstations for the Digital Age


How do you define and design the Financial Advisor Workstations for the Digital Age?  It is not an easy task to balance compliance needs, the exponential growth in social media and digital technologies, and the need to not overwhelm a financial advisor/registered representative and make the interactions easy to manage. [...]

Financial Services Online Account Opening


Financial Services Online Account Opening is a pivotal capability for banks and financial services firms. In 1994, Bill Gates famously said, "Banking is essential, banks are not." In the developing world, mobile banking trends must be inclusive in providing mobile payment and banking options. Banks have become more proficient in [...]

Insurance Industry BPO: Opportunities and Challenges


Insurance Industry BPO (Business Process Outsourcing) is on the cusp of epochal change. The insurance industry has been and will continue to be in the midst of a technological upheaval that challenges the old ways of doing business. The market demographics of insurance customers are changing substantially, because baby boomers, [...]

Insurance Industry Commoditization


Nothing seems to scare insurance executives more than insurance industry commoditization. They fear that their companies will be relegated to the status of discounters; peddling bare-bones products at the lowest price with little or no service provided. These concerns are reinforced by the auto insurance market; where the Berkshire Hathaway [...]

Insurance Industry Future Trends


What are the insurance industry future trends that will shape the landscape for years to come? In one word - digital. Of course, there are other insurance industry future trends that will have a significant impact - from demographics to regulations, from technology to unexpected competitors. The emerging technology and [...]

Low Annuitization Rates and Insurance Industry Implications


Annuity products have two phases, which are the accumulation phase and the payout phase. Annuity products usually offer options for the payout phase to receive the value of the payout as a single lump-sum payment, as a systematic withdrawal, or as an annuity payment. If the payout method selected is [...]