The financial services and banking industries have long stood for the values of tradition and stability. Right now, we’re in the middle of the technology revolution, driven by rapidly evolving mobile technologies representing the major economic force since the industrial evolution.
Everything changes, from customer needs to the way services are delivered. As Charles Darwin pointed out, “It is not the strongest that survive but the most adaptable.”
According to a survey done by Millennial Disruption Index, 71% of millennials would rather go to the dentist than visit a bank. 53% don’t think their bank offers anything different than another bank, and 33% are ready to switch banks in the next 90 days.
The survey of the senior industry executives by Accenture reveals that 72% of financial institutions have only a fragmented or opportunistic strategy to deal with digital innovation. Established players simply aren’t doing enough to keep up to speed with the surge in new-innovation investment.
Legacy IT maintenance represents as much as 70% of the IT budget at financial services firms. To remain competitive, financial institutions have to build state-of-the-art technologies that are agile, scalable and adapt to the realities of working with legacy data.
A result of the 2008 crisis is that there are even more demanding requirements for offering banking services. Adapting to the realities of the highly regulated environment are the key part of successful product strategy.
In the world of technology, a relatively minor security breach can damage your reputation and dramatically affect your business. Building the next generation of services requires a high quality product, efficient operating model, and a high level of security.
Finding talented people with the right skills and culture fit are another big industry challenge. 80% of the respondents in the Accenture survey felt that they’re only “somewhat” or “minimally” equipped for the digital age in terms of culture and talent.
True innovation is when novel technology meets the right market timing. As the world changes and customers are moving towards smart-device centric services, whoever can deliver the most innovative products with a seamless customer experience will ultimately win in the market.
The time to act is now. Once the big market changes happen, whoever ends up on top will usually stay there until the next big thing happens.
Appster is not another “IT solutions provider”. We’re one of the most innovative app development companies in the World. We’re at the forefront of the mobile technology revolution with a track record in delivering some of the most innovative and disruptive apps in the App Store.
We understand what’s going on, our culture is right, and our team has an incredible track record in delivering solutions to Fortune 500 clients, as well as innovative startups hoping to disrupt the status quo.
We’ll provide you with a team of some of the most skilled product strategists, developers and designers to build a solution according to the highest design and technology standards.
Following the trend is going where the puck is. As the world changes, we’re not the ones sitting sideways watching the events. We’re the ones changing the world.
Success in mobile isn’t just about building a solution that works. It’s about great user experience, high adoption rates, retention and high customer satisfaction.
Their audacious vision is to help transform the most innovative and challenging ideas into reality, by becoming the leading technical co-founder for entrepreneurs.
Appster is the fastest growing mobile development company. With offices in 3 continents, from San Francisco to Melbourne, we’re building the most innovative mobile technology company in the world.
To discuss how our team can help your business achieve true results, please contact us!
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