In recent times businesses have had to adapt very quickly to complete remote working. Although many will already have some sort of flexible working mechanism in place, this is quite different from working from home 100% of the time and applying this to the office in its entirety. Businesses that will weather this storm need to be able to operate with minimal business disruption. Some even argue that Covid-19 could result in a complete shift in attitudes and patterns of working, with companies forced to embrace more and more remote working as employees may not want to return to the office full-time.
The security of your organisation’s data is about more than protecting against threats and ensuring cyber security. Employees can unwittingly put data at risk by storing in vulnerable cloud systems, locally or on mobile devices. There is an argument for reducing risk at source by protecting the document/data rather than its location, and organisations are doing this by using an Enterprise Content Management System (ECM) such as THESIS.
HAS YOUR ORGANISATION GOT THE DIGITAL TRANSFORMATION STRATEGY AND TOOLS IN PLACE TO THRIVE DURING THE COVID-19 PANDEMIC?
Digital transformation has been on the agenda for organisations for a long time with different organisations having various degrees of success with their respective technological plans. A 2019 report noted that 85% of enterprise decision makers believe that they must make “serious progress” on digitally transforming their businesses in the next two years to avoid falling behind the competition and negatively affecting their bottom line.
The UK has been in lockdown as a result of Covid-19 for over a week now, meaning that any business that can allow staff to work from home should already be doing so. The UK is not alone in this with countries across the globe implementing various degrees of lockdown.
Due to Covid-19, the Data Management Summit which had been scheduled for the 19th March has been transformed into a virtual event.
Following on from the UK Government's latest advice, most businesses will be asking staff to work from home wherever possible. Many organisations that don't normally offer flexible working practices will not have the IT infrastructure in place to implement this quickly.
Digital-only banks are becoming more commonplace with trends suggesting that within five years, 23.2 million people in the UK will use a digital-only bank – that’s 44% of UK adults. As it stands, only 12 million have a digital-only bank account so clearly the rate of uptake is expected to be very rapid*.
The Data Management Summit is a London-based event which explores how financial institutions can use data management strategies to meet regulatory and compliance expectations, enhance operational efficiencies and increase transparency to deliver on business outcomes.
How can the UK’s financial services industry harness business process tools to manage operational resilience?
The UK’s financial services industry is one of the leading global financial centres and as such, vital to the UK economy. The industry is facing new challenges and pressures with modern uncertainties such as Brexit. This coupled with new entrants to the market mean it is more important than ever for legacy institutions to embrace new technologies to improve methods of working.
How can Intelligent Information Management bridge the gap between the big financial service players and the FinTech revolution?
FinTech has taken the world by storm in recent years with the likes of Monzo, Revolut and Starling Bank building up customer bases and attracting big investment from VCs. With more and more consumers turning to these digital challengers new to the market, there is an argument that these consumers now have higher expectations of the bigger, traditional banks.