IGXGlobal Essentials Series
Why Financial Services Organisations Need AI-Native Networking in the AI Era
What Are the Core Challenges for Financial Services in the AI Era?
The financial services sector is one of the fastest-moving industries. There is constant pressure to keep up with changing regulatory requirements, complex global markets, and evolving technologies. In a competitive market, failing to adopt and implement the latest technologies can significantly impact a company's bottom line.
At the same time, financial services providers must meet customer expectations by delivering faster, more innovative, and more secure digital experiences.
Today, financial services organisations face a series of core challenges:
REAL-TIME OPERATIONS
Organisations relying on legacy systems struggle to keep up with the demand for real-time data processing, resulting in delays that can harm the customer experience and pose security risks, as anomalies may go undetected. A lack of integration results in data being scattered thus making it difficult for organisations to scale efficiently based on up-to-date analysis.
A lack of integration results in data being scattered thus making it difficult for organisations to scale efficiently.
Organisations must have the flexibility to adapt to new threats.
AUTOMATED SECURITY
As threats to financial services institutions continue to evolve and mature, organisations must have the flexibility to adapt. This degree of vigilance requires automated security features that not only detect anomalies but respond to them using pre-determined workflows and alert systems.
OPTIMISED PERFORMANCE
Despite the intensity of the workload, financial services organisations must consistently deliver high performance. Sometimes, this requires managing resource allocation. To achieve this, companies must understand their data sprawl, know what is happening and where, and optimise processes as necessary.
Companies must understand their data sprawl, know what is happening and where, and optimise processes as necessary.
Often, manual actions are necessary, which slows down workflows and ultimately affects the customer experience.
OPERATIONAL EFFICIENCY
When networks and processes are fragmented, maintaining efficiency becomes incredibly challenging. Often, manual actions are necessary, which slows down workflows and ultimately affects the customer experience. Much of this inefficiency can be attributed to outdated systems and processes.
REGULATORY COMPLIANCE
For financial services companies, staying current with local and global regulatory updates presents a significant challenge. Ensuring that existing systems maintain compliance with these changes is equally important. Above all, financial services organisations must be transparent, understand where their data is located, and know how it is being used.
Staying current with local and global regulatory updates presents a significant challenge.
All of these challenges can impact an organisation's ability to remain agile and responsive.
AGILITY
All of these challenges can impact an organisation's ability to remain agile and responsive. In such a competitive industry, business agility is paramount. Companies must be flexible to adapt to changing regulatory landscapes, technological advancements, and, crucially, shifting consumer expectations.
The glue that binds all of these processes is network technologies. However, in the AI Era, traditional legacy solutions are often unable to meet current demands. While much is discussed about AI and its seemingly limitless capabilities, it can be difficult to determine which use cases are truly critical. But when it comes to financial services networks, there is a clear use case that impacts every level of the organisation, both upstream and downstream.