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Feeling Bullish About These Financial Services Trends? Here's How Company and Executive Data Can Help.

March 02, 2021

For the past few years, most trends in the Financial Services industry have focused on digital transformation to meet consumer expectations. As it happens, these efforts paid off in 2020. When the rapid spread of COVID-19 made social distancing measures a must, Financial Services organizations were better positioned than most to shift to touchless, digital customer experiences quickly. But with remote work likely to continue for the foreseeable future and the economic disruption applying pressure to the bottom line, it’s not surprising that one of the top trends we cover in our new Financial Services trend report is a push for digital transformation in back office operations as well. Take a closer look at the trend below and see how a comprehensive research platform like Nexis® for Finance can help.

Optimizing operations to enable resilience

In its 2021 Outlook reports, Deloitte notes that across all Financial Services sectors, there is an “… inextricable link between recovering from COVID-19’s impact and transforming operations to power success in the years ahead.”

Among banking executives surveyed for the report, 47% intend to leverage technology to realize operational efficiencies over the next 6 to 12 months. What does that look like? Artificial intelligence and data analytics, innovative fintech, robotic process automation and blockchain are possibilities, but the lead time for technology implementations can be frustratingly long.

With an out-of-the-box solution like Nexis for Finance, organizations can start realizing value from technology for middle and back office operations right away. This powerful, cloud-based research platform brings together a wealth of critical information, including news, company and executive data, and public records*—all in one place, allowing organizations to enable remote work to suit various needs.

Perform initial due diligence for mergers and acquisitions: Spot potential red flags like adverse news, legal entanglements, or indicators of financial instability for M&A targets and create Alerts to stay up to date when new information is available.

Enhance executive recruiting:  Tap into company and executive data to find, vet, and connect with top prospects.

Empower decision makers with timely, relevant insights:  Share news about trends, market reports, industry analysis and more to support marketing and sales, product innovation, and long-term growth. In marketing, for example, getting a broad perspective is crucial to enable real resilience as consumer demands shift, events cause disruption, or market forces change.

In an interview with The Financial Brand, Rohit Bhargava, author and professor of global marketing at Georgetown University, says, “Organizations must be more open minded and see things from outside their industry. He likens it to picking up a random magazine and getting to see the language that appeals to “someone who’s not like me.” With a solution like Nexis for Finance in the transformation toolkit, Financial Services organizations can multiply the insights being uncovered to stay informed and agile in response to current and emerging trends.

Check out our or a closer look at the push for digital transformation in the back office and five more trends that should be on your watch list.