Over the past couple of years, growth of banking, Financial Services and Insurance institutions have been severely affected due to the various factors including global economic recession, several compliance changes and increased regulatory constraints among others. This has forced institutions to shut shop or consolidate/merge with other players within the industry. And through Mergers & Acquisitions (M&A), partnerships, and internal growth, these institutions are striving to gain a competitive edge by diversifying the business areas and delivering more products and services. Reluctance of investors, dip in operational efficiency and following several other challenges are there to compound the crisis even further.Some of the challenges faced by the sector :
Rising demand for innovative customer service
Structural changes such as consolidation, Merger & Acquisition
Governance & risk management
Banks play a key role in the entire financial system by mobilizing deposits from households spread across the nation and making these funds available for investment, either by lending or buying securities. If you are running a business, managing an IT project, designing or improvising any business process, it’s very much likely that you will have to deal with financial concepts and financial lingo. Modern processes are integrating every aspect of the business from in receiving, warehousing, inventory control, production, sales, delivery, billing and collection, in fact the entire suite of accounting and management.
RAYSUN integrated applications and services are designed to help our BFSI clients meet their most interesting facts of business and technology needs and help them in achieving enhanced operational efficiencies, minimized risk, and reduced cost of ownership.