Workday Video: Dive Into the Future of Financial Services

Across the financial services sector, companies face mounting urgency to adapt to market shifts, changing customer expectations, evolving regulations, and massive fintech disruption. 

To meet these challenges, senior executives need more than just familiarity with enterprise platforms and other modern solutions—they also need a broad understanding of the challenges and opportunities that come with digital transformation.

Join us as we hear from financial services leaders to learn more about the must-dos that will drive growth and success in 2024 and beyond.

Key insights:

• To drive agility, financial services firms must solve the problem of technology complexity, clunky systems, and disparate data. “There are multiple systems, there are disparate systems, they're on-premise, they're legacy, there's a lack of API—so integration is difficult and getting a [holistic] data view is hard,” says Viren Patel, a strategic industry advisor with Workday. “Making changes in these systems is slow and difficult, and in this new world of never-normal, it’s difficult to be resilient and to be agile.”

• AI will drive efficiency and a better experience for consumers and employees. In addition to increased use of existing AI, such as chatbots and robo-advisors, financial services will use AI to introduce “more hyper-personalised products, when firms look across customer data sets,” Patel says. “We’re also going to see increased productivity. Whereas AI looks at tasks that are repetitive, workers can step away and focus on innovative work.”

• Embracing AI requires careful change management. “Engendering trust is probably the most important thing particularly with AI and all the other associated technologies,” notes David Smith, chief executive of Global Futures and Foresight, futurist, and a keynote speaker at Workday Rising EMEA’. “People are going to have their work and their jobs changed dramatically.”