Finance Industry- Overview
Our grasp on technology helps your finances
Banks and financial institutions have been severely impacted by the debacle of sub-prime lending rates in the US a few years back. In order to get its operations back on track and build a reliable yet robust enterprise level finance architecture, there is a huge potential for technology partners to carve out an effective solutions construct that lays the roadmap for future growth in face of a recovering international economy. Some barriers to growth of banking and financial institutions include pressure of enhancing margins, improving cost-to-income ratio and shift in user preference brought on by technology.
These concerns bring with it an equal potential to capitalize on banking needs and turn challenges into opportunities to make a name in the current and future finance ecosystem. It is here that the creative approach of Good Work Labs comes to the fore. Our consultative approach gives you ample time to visualize and reasons to justify how we can add immense value with our IT skills. We make sure all processes designed and deployed are customer-centric with use of big data and competitive intelligence.
The finance team has been one of the few fields that has significantly adopted technology for better results. With it comes the need for personnel orientation to IT systems and need for maximizing business opportunities by using IT as core strength. Business owners and managers in the finance sector need to tide over critical issues such as disruptive force of IT and mobile, a weak yet recovering economy, socio-cultural uniqueness of the burgeoning developing markets and changing user preferences.
Key challenges -
Some of the challenges presented to Good Work Labs included the below:
1. Centralized Information – News analysis, market performance, expert advice and advertised reports offer disparate source of information to the investor. With such a huge plethora of information and knowledge resources it is bound to get confusing. The need is to simplify the knowledge absorption process through a unified channel that works exclusively for the investor’s benefit.
2. Futures options – A strong predictive analysis model goes a long way in building trust upon a hosen investment vehicle for the investor
3. Transparent reporting – The curiosity of the mind ensures that the investor needs a simplified yet holistic view of his/her investment. This gives the investor to track performance and decide upon a future course of action (buy, hold or sell)
4. Secure payment – Any and every investment needs to access the investor funds. There is a growing need for a secure channel that guarantees glitch-free electronic transmission of funds from his/her bank/finance source to the appropriate investment vehicle.
FinBuddy Case Study -
Good Work Labs has provided the foundation to our finance sector clients with winning business models that help cater to evolving user needs with modern technology and thus excel in their servicing capabilities. Our cutting edge finance app ‘FinBuddy’ is a veritable treasure trove of resources and functionalities designed exclusively for do-it-yourself investors. It brings together insights from the market and specialists to help them make smarter finance decisions based on expert indications from other seasoned investors.