Heightened Competition and Consumer Expectations Driving Changes in Banking, Finance and Insurance

Voya, Unbanked, Liberty Mutual, Wells Fargo, Visa and Vantage Risk to share insights at the ISG TechXchange: Banking, Financial Services and Insurance 

Increasing competition in the banking, financial services and insurance (BFSI) industry is driving enterprises to improve customer engagement and experience, say experts with Information Services Group, a leading global technology research and advisory firm, appearing at an upcoming ISG event.

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“Customers expect their BFSI institutions to meet them wherever they are—whether that’s in person, online, or increasingly over the next few years, in the metaverse”

The ISG TechXchange: Banking, Financial Service and Insurance event, November 15 at Convene, 75 Rockefeller Plaza in New York City, will feature speakers from Voya, Unbanked, Liberty Mutual, Wells Fargo, Visa and Vantage Risk who will explore the technology, consumer and business trends impacting the BFSI sector, including the industry’s initial forays into the metaverse.

“Customers expect their BFSI institutions to meet them wherever they are—whether that’s in person, online, or increasingly over the next few years, in the metaverse,” said Owen Wheatley, partner and leader of ISG Banking and Financial Services and co-host of the ISG TechXchange. “New approaches are dramatically changing the way banking and financial services firms engage and service customers, offer new products and services and enable new marketplaces.”

The event kicks off with the “ISG Predicts” presentation on “five mega trends your firm can’t afford to ignore,” followed by a presentation from Marino Monti, senior vice president and head of technology services with Voya Financial on the company’s technology modernization journey. Monti will be joined by Cognizant’s Meer Krishnamurthy, senior vice president and global head of insurance, in sharing their thinking on how to keep business and technology strategies aligned when transitioning from legacy IT.

In a separate main stage conversation, Daniel Gouldman, CEO of blockchain technology company Unbanked, will lay out his vision for what consumers should expect from banks over the next decade as he explores such topics as the evolution of financial access and the democratization of cryptocurrency.

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Panelists with Wells Fargo Bank, National Debt Relief, [24]7.ai and Munich Re will appear in separate sessions on the evolution of consumer engagement, the challenges and opportunities for client acquisition and retention, and how banks, financial institutions and insurance companies can integrate automation, personalization and omnichannel communications.

“Insurance carriers continue to move from basic, transactional call center functions and face-to-face interactions to multichannel, experiential and relationship-building sales and service engines to drive brand trust and loyalty,” said Paul Schreiner, partner, ISG Insurance, and co-host of the event. “Digital customer engagement will be a principal driver of competitive advantage. Partnering with more agile third parties and building a broader service delivery ecosystem is critical to delivering improved solutions with the necessary speed and scale.”

A panel discussion on building the right partner ecosystem will ask leaders of Dark Forest Technologies, Fiserv, Quinnox, Zions Bancorporation, and Lord Abbett how to look for the right partners and deal boldly with new market entrants and traditional competitors.

Justin Gress, COO of insurance at Vantage Risk, will join the ISG event to share the strategies Vantage is employing as a relatively new enterprise in a crowded marketplace to attract, train and retain new talent. Gress also will share how his company leverages data and analytics for improved customer experience and engagement against legacy competitors.

Separately, WNS and Varo Bank will discuss how to leverage partnerships for hypergrowth; Pacific Life Insurance Company will present ways to enable next-gen performance in a digital ecosystem, and Quinnox and Grange Insurance will explain how to align internal operations and IT with third parties to build effective insurance ecosystems.

Executives with Visa and Liberty Mutual Insurance will also join the event to explore talent strategies, discuss the loss of institutional knowledge in the BFSI industries, and suggest new ways to measure employee experience and enhance culture to drive better outcomes.

The ISG TechXchange: Banking, Financial Services and Insurance event is sponsored by Cognizant, Datamatics, WNS, [24]7.ai, Hitachi Vantara, LTI, Quinnox, Allganize, Quantiphi, Softtek, UiPath, and Uniphore.

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