Posted by Amit Singh, Lead Consultant, Oracle Practice, Infosys
With evolving operating models, the financial services industry undergoes dynamic and transformational change every few years. This adds complexity to financial processes that need to efficiently mitigate risk through smart technologies.
With the emergence of the e-commerce retail market, revenue in the financial services sector is expected to grow. Global retail sales including in-store and online purchases are predicted to reach over US $22 trillion in 2015. Financial service providers play a role in driving this growth by enabling fast, safe and user-friendly multi-channel payment options such as e-transfer, plastic money, mobile wallet, and phone banking across various networks.