Digitalization is a challenge for wealth management firms and will provide an inevitable change in the coming decade. It is an essential aspect of modern investors’ premium service to include high-quality digital tools. Wealth management firms are facing challenges such as addressing the threat of fintech challengers, measurable success metrics, KPIs, and the advantages of life after paper, which are essential elements of a successful digitalization plan.

Core (Centralized Online Real-time Exchange) Banking is a system that enables a group of bank’s branches to perform transactions between accounts in different branches and share the data in real time.

On-Premise SAP Human Capital Management (HCM) was considered one of the most powerful Human Resource Managements (HRMs) until the relevance and necessity of cloud-based SAP SuccessFactors came into the picture. The two most prominent reasons for the growing popularity of cloud-based (Software as a Service) SaaS applications are (1) changes in the Gen Y and Gen Z workforce at offices, and (2) the developing culture of remote work.

In the first blog in this series, I introduced the Digital Complexity Paradigm (DCP) – which, broken down in simple terms, attempts to capture the significantly increased complexity and speed at which digital transformation (and evolution) needs to be delivered. That complexity and speed are then compounded by the absolute need for unquestionable quality. In this next blog, we will look at technical complexity as it applies to the DCP.