I’m a firm believer that banks rarely invest to drive revenue and elevate customer service. But I recently hosted a roundtable discussion in London with Appian, a process automation platform company, where leaders from mainstream and challenger banks in the UK gathered to discuss the challenges facing financial institutions when adopting new technology.

The banking and financial services industry is evolving rapidly with the advent of new technologies and digital platforms. To stay competitive, banks need to focus on providing superior customer experience to their institutional and retail customers. This should start with the initial Know Your Customer (KYC) process and continue through the entire customer lifecycle. Here are five keys to transforming practices for heightened customer experience in banking and finance.

Most organizations spend at least 37% (sometimes over 50%) more than they need to on their cloud data workloads. A lot of costs are incurred down at the individual job level, and this is usually where there’s the biggest chunk of overspending. Two of the biggest culprits are oversized resources and inefficient code. But for an organization running 10,000s or 100,000s of jobs, finding and fixing bad code or right-sizing resources is shoveling sand against the tide.

The software landscape at a modern financial services company is like a jigsaw puzzle, with many pieces that must fit together. For example: Software development can be more difficult in an environment that requires complex enterprise integrations. How do you create flexible, modern, and scalable applications that require technology integrations and data from dozens of sources?

IT and data executives find themselves in a quandary about deciding how to wrangle an exponentially increasing volume of data to support their business requirements – without breaking an increasingly finite IT budget. Like an overeager diner at a buffet who’s already loaded their plate with the cheap carbs of potatoes and noodles before they reach the protein-packed entrees, they need to survey all of the data options on the menu before formulating their plans for this trip.

Banking, financial services and insurance (BFSI) as a sector plays a major role in the global market for software testing services, with a particular focus on the security aspect of software products and digital processes. In this article, we’ll take a closer look at how companies in banking and finance are approaching software testing, as well as how they’re using it to handle the growing pressure to embrace and succeed with digital transformation.

As organizations run more data applications and pipelines in the cloud, they look for ways to avoid the hidden costs of cloud adoption and migration. Teams seek to maximize business results through cost visibility, forecast accuracy, and financial predictability. Watch the breakout session video from Data Teams Summit and see how organizations apply agile and lean principles using the FinOps framework to boost efficiency, productivity, and innovation. Transcript available below.