Delivering innovative and cost-effective solutions for the Financial sector

Challenges and Opportunities in the Financial Sector

Business Transformation

Challenge: One of the biggest issues confronting the financial services sector will be digital transformation. Consumers are requesting services that are customised to each person’s particular requirements and tastes, which can only be provided by integrating digital technologies. To be competitive, businesses need to adopt these technologies, which range from virtual assistants to mobile banking.

 

Solution: TEKenable helps them to do so by offering solutions for customer journey mapping, digital strategy, design thinking, agile delivery, and change management. Our solutions help financial services firms to transform their business models, improve their efficiency, and increase their profitability.

Regulatory Compliance

Challenge: The process of complying with many regulatory organisations’ criteria is intricate and time-consuming. While staying on top of these rules can be difficult for organisations, compliance is crucial for preserving customer trust.

 

Solution: Companies need to make sure they abide by the rules to stop financial crimes. Serious fines and harm to one’s reputation may result from breaking these rules. Financial services firms must comply with the ever-changing regulatory and legal requirements, which can be costly, time-consuming, and risky. TEKenable helps them to simplify and automate their compliance processes by offering solutions for KYC, AML, GDPR, PSD2, MiFID II, and other regulations. Our solutions use smart contracts, biometrics, encryption, and audit trails to ensure compliance, transparency, and accountability.

Changing Customer Demands

Challenge:

Consumers expect tech-savvy, personalised financial services accessible anytime, anywhere, with excellent customer support across various channels. Additionally, companies promoting social responsibility and sustainability attract and retain more clients. Customer preferences are also shaped by lifestyle and demographic shifts, with younger clients prioritising digital convenience and older clients valuing personal relationships and trust with advisors.

 

Solution: Financial services firms must integrate sustainability and social responsibility into their core business, as these are becoming increasingly important for their stakeholders and customers. TEKenable helps them to do so by offering solutions for ESG reporting to improve the sustainability performance of financial services firms.

Industry Specific Solutions within the Financial Sector

INSURANCE

Challenge: Insurance companies face increasing challenges such as rising customer expectations, complex regulations, and growing competition.

 

Solutions: TEKenable addresses challenges with solutions in policy administration, claims management, risk analysis, fraud detection, and regulatory compliance. Our technology integrates cloud, AI, data lakes, and IoT for secure, scalable, and flexible insurance platforms.

LIFE AND PENSIONS

Challenge: Life and pensions providers need to adapt to the changing needs and preferences of their customers, as well as the evolving market and regulatory conditions.

 

Solution: TEKenable offers solutions for product development, distribution, administration, actuarial, and reporting, utilising data, analytics, machine learning, and automation for life and pensions products and services.

BANKING

Challenge: Banking institutions are undergoing a transformation that requires them to innovate, optimise, and differentiate their offerings.

 

Solution: TEKenable helps them to achieve this by offering solutions for core banking, payments, lending, treasury, and digital banking.

Our Operations in the Financial Sector

Insurance

  • FBD – Call Centre & Customer Journey Optimisation, IT Integration, CCA.
  • Mapfre – Vehicle Warrenty.
  • Insurance Ireland – National Motor Insurance Enforcement System MTPL and ANPR.
  • Sherwood Compliance – Multi-party, multi-process workflow solution.
  • FCG UK – Progressive Digital Transformation.

Various

  • Range Mountain – Mortgage Product Design Application.
  • Savvy – Pre-paid Debit Card Processing Solution for Barclays, Lloyds, BoI, HSBC etc.
  • Davy Stockbrokers KYC.

Banking

  • Bank of Ireland  – Credit Risk Platform.
  • Ulster Bank – Basle II.
  • Merrill Lynch – Capital Adequacy and Liquidity, Cash Management, Contract for Difference (CFDs), Regulatory Reporting using XBRL.
  • AIB – Credit Card Division Process Review.
  • KBC – Sales Process Support System.

Investment Management

  • ITC – Broker Portal Onboarding System and Asset Management Platform (iTrust).
  • Lombard Finance – Asset Management Solution.
  • Zurich – Blended Fund Trading Platform (TPT), Group Risk Solution, SEPA and Accelerated Trading Solutions.

Our Core Solutions

TEKenable simplifies digital change for your business.
Our expertise in Low Code Platforms, Data, and AI ensures a quick and effective transformation tailored to your needs.

Microsoft Dynamics

Create a rapidly deployed, low risk solution for your business using Dynamics 365.

Microsoft Power Platform

We offer seamless application building and data insights for dynamic business solutions.

artificial intelligence

We help you deliver enhanced throughput, reduce time to market, and personalise your product offerings.

Data and Analytics

Transform data into insights with AI and advanced Data Fabrics. Drive smarter decisions, faster.

Cloud Solutions - Azure

Allocate, cut, and monitor cloud costs in order to have a well-managed cloud environment.

Cyber Security

We have commitment to secure software development goes beyond industry standards.

Trusted for over 20 years

We deliver according to our values. Resilience, Heartfelt Service, Always Striving and Insatiable Curiosity.

Partnerships and Frameworks

Company recognition rewards

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Ken Byrne

Financial Sector Lead

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