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BFSI Industry in 2024: Overview, Challenges and Recent Trends

BFSI Industry in 2024: Overview, Challenges and Recent Trends

BFSI
January 7, 2025 90 0

In this particular blog, we will explain what the BFSI industry is all about, catch up with its recent developments, focus on its major challenges, and study the trends that will define the industry in the coming times. Undoubt...


The Three Lines of Defense Model for Robust Risk Management in Banking and Finance

The Three Lines of Defense Model for Robust Risk Management in Banking and Finance

Fintech BFSI
December 26, 2024 18 0

The Three Lines of Defense (3LoD) model is a widely recognized framework for structuring roles and responsibilities related to risk management and control within an organization. Originally positioned by the Institute of Intern...


Model Risk Management - Best Practices for Banks and Financial Firms

Model Risk Management - Best Practices for Banks and Financial Firms

BFSI
December 16, 2024 13 0

In the intricate world of finance, financial institutions rely heavily on models to navigate the complexities of risk and opportunity. Financial modeling helps banks and other financial institutions in decision-making, risk manage...


Navigating Cloud Challenges with Repatriation

Navigating Cloud Challenges with Repatriation

Digital Transformation BFSI Global Capability Centers Data Privacy Cloud Computing
December 4, 2024 1660 0

Cloud repatriation is emerging as a strategy to address the challenges of public cloud adoption, including cost escalation, security compliance, vendor lock-in, and data sovereignty.   Cloud computing has transformed bu...


How Hyper-Personalization in Insurance is Revolutionizing Customer Engagement

How Hyper-Personalization in Insurance is Revolutionizing Customer Engagement

BFSI
November 21, 2024 21 0

These days, customers expect personalized attention, and becoming a customer-centric business is no longer an option but a necessity. For the insurance sector, hyper-personalization has emerged as a game-changer. By using advan...


Navigating the Risks : Cautionary Insights into Large Language Models in Banking

Navigating the Risks : Cautionary Insights into Large Language Models in Banking

BFSI Machine Learning AI
November 14, 2024 10 0

In recent times, large language models (LLMs) have revolutionized the field of natural language processing, demonstrating impressive capabilities in understanding and generating human-like text. However, when it comes to sensiti...


How AI-Powered Automation Transforms Accounts Payable Workflows

How AI-Powered Automation Transforms Accounts Payable Workflows

AI BFSI
November 13, 2024 40 0

The traditional accounts payable (AP) process involves human agents performing manual entries of invoices, payment processing, and approvals. However, with the rapid increase in transaction volumes, manual AP workflows begin le...


Innovations in BFSI Sector 2024

Innovations in BFSI Sector 2024

Analytics BFSI Emerging Tech Industry Trends Global Capability Centers Digital Transformation
November 13, 2024 118 0

BFSI Sector Innovations 2024 Open Banking Open banking facilitates secure data sharing between financial institutions and third-party providers using standardized APIs. This innovation reduces costs associated with main...


The Quiet Resurgence of Blockchain: Building Trust in the Digital Age

The Quiet Resurgence of Blockchain: Building Trust in the Digital Age

BPM Data Privacy Digital Payment Safety BFSI Web 3.0 Blockchain
October 31, 2024 424 0

In the bustling world of emerging technologies, blockchain is making a notable comeback as a pillar of trust and transparency. For all the hype cryptocurrencies generated, nothing much happened of them, with the noise causing a de...


Top 7 Managed Services Trends Shaping the Future of Banking in 2024

Top 7 Managed Services Trends Shaping the Future of Banking in 2024

BFSI Digital Transformation
October 30, 2024 175 1

In recent years, there has been a significant increase in competition, regulatory pressures, evolving customer expectations, and the constant demand for innovation. To remain competitive in this dynamic environment, digitization o...


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