CESOP regulation was born out of the need to tackle the rampant issue of VAT fraud within the European Union.
Hyperautomation alludes to the utilization of cutting-edge innovations, for example, AI and mechanical technology process automation (RPA) to robotize manual assignments. It is basic to comprehend that hyper automation isn't intended to replace human specialists, yet rather to coordinate them into the cycle.
The rapid wave of digital transformation set forth the transition of banks from rigorous to responsive, conventional to digitally savvy, and more receptive to change than ever before. Besides just being digitally established, they are moving fast-forward towards innovation and bringing a change in the industry practices.
Traditionally, the business of wealth management has been based on personal relationships and trust, as client engagement involves several individuals and manual processes. This business model has poor scalability and efficiency and the need of the hour is a next-generation operating model that is supported by Data, Analytics, and Technology. We are currently at a juncture when the industry’s business models are getting disrupted, with digitization accelerating the change. In this article, we take a look at a few of the several drivers bringing changes to the world of wealth management.
Intelligent automation combines artificial intelligence and automation to create smart business solutions that can analyze, learn, and adapt to improve the efficiency and productivity of any organization. It leverages natural language processing, computer vision, machine learning, and machine vision to understand and solve complex business challenges. In this blog, we look at how IA incorporates cognitive technologies with Robotic Process Automation (RPA) to automate any business processes, reduce operational costs, improve efficiency, and enhance customer experience.
Among all the industries that got shaken up by COVID-19, the payments industry is arguably the one that saw the most disruption. However, in the past six months, e-commerce, digital payments, and other online services have all registered excellent growth. The pandemic has reshaped how consumers and businesses interact with each other and this will shape the future of the payments industry. Here are a few of the trends that were observed during this time.
COVID-19 is disrupting the business ecosystem and the economy significantly and is likely to cost the global economy $1 trillion during 2020, says UNCTAD, the UN trade agency. From governments closing the borders and enforcing lockdowns to businesses struggling to meet the supply and demand, the novel coronavirus is changing the way businesses operate, collaborate […]
One of the main reasons for the rise in popularity of the gig economy was the flexibility and freedom it provided to its employees. Being able to work on their own schedule, having the option of pursuing multiple careers, or even just having a side hustle as an extra source of income, made the gig […]
Blockchain in financial services is setting the stage for a huge transformation.