Financial services

As we begin to grow increasingly familiar with the concept of the metaverse, financial institutions are faced with multiple opportunities to maximize its potential – both for the end customer and for employees. While there will still be hurdles when incorporating the metaverse into commercial strategy, the value and competitive advantage of early adoption far outweigh the challenges.

As digital native challenger banks rapidly encroach, it has become imperative for retail banks to move to the cloud to compete. There are numerous benefits associated with cloud migration, but they should also be aware of the pitfalls.

As one of our oldest institutions, banks have a pivotal role in shaping our local communities and even our global society. Going beyond being customer-centric, some banks are embracing being people-centric – looking after and enhancing the community they serve. By placing sustainability at the core of their strategic practice and relationship building, banks can build trust with all customers, and in particular the younger generation.

As our digital abilities become increasingly sophisticated, our cybersecurity measures develop at the same pace that a cybercriminal’s savviness also can. Businesses must continue to take the right measures to protect their futures with the developments of remote access and other digitization efforts.  

Machine learning and AI are often associated with enhancing the consumer experience, but they can also assist businesses significantly in their tax-related work. Simplifying the taxation processes and compliance procedures contributes to business sustainability, and through it, the wider community and society.