Select Page

Silicon Slopes: Challenges in the FNS industry and how Simplus helps

Feb 15, 2019 | Admin, Financial Services, Latest News, Sales Cloud

On the latest episode of the Revenue Growth University podcast, Dr. Amy Osmond Cook, CMO at Simplus, sat down with Tim Smith, senior account executive at Simplus and prior owner of Basati, to discuss the financial services industry and the challenges that besiege it today.

 

Cook: What do you believe are the key challenges, and how might Simplus best address those challenges?

Smith: There are a lot of challenges. Here are just a handful:

  1. Promoting growth and sustaining profitability in an environment with low interest rates is probably the top concern for financial institutions today. Customers want more than just the best rate/price/return. Today, they want a connection, a relationship that goes beyond transactional.
  2. Developing new and reliable sources of revenue is a struggle. Just because somebody else—perhaps a new, aggressive, nontraditional company—is doing it, that doesn’t make it right for your financial institution or your customers.
  3. Restoring public confidence in the industry is also a struggle, especially since the whole debacle with Wells Fargo. This is really the core challenge today. We at Simplus believe that technology can be used to help restore that confidence.
  4. And finally, technology. I’m not talking about developing cool new features: I’m talking about security. The head of JPMorgan’s asset and wealth management just stated at Davos that her bank has over 50,000 people working diligently JUST in the technology group. And they spend 10 billion—that’s a “b”—a year on technology. It’s another pillar of trust building.

 

To hear more, listen to the podcast here.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Authors

Simplus Logo
Simplus team
| + posts
Tips for a successful CPQ post go-live implementation

Tips for a successful CPQ post go-live implementation

CPQ is, first and foremost, a sales tool that enables sales teams to quickly and efficiently generate quotes. However, we rarely talk about the go-live process and how to navigate it successfully.  In a recent webinar hosted by Panaya, Gilles Muys, VP of Customer...

Looking back at the trends of 2022 in manufacturing

Looking back at the trends of 2022 in manufacturing

2022 has been a year of growth for manufacturers of all sizes. While the larger economy may still loom uncertain for many industries, manufacturers are closing out 2022 with reasons to rejoice: both GBI and PMI reflect an expansion of production and new ordering in...