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Structural Market Shifts in Finance Are Driving Innovation

Digital transformation is the only way to reduce the risk of disintermediation.

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Digital transformation has become an undeniable requirement for the financial services sector in recent years. The potential efficiency gains are too great to ignore, and the industry landscape has become more competitive than ever thanks to new market entrants in the form of fintechs that are offering digitally native experiences to clients.  

To be successful in their digital transformation journey, Financial Institutions must align their corporate vision with putting the client experience first. Cloud-based solutions are playing a vital role in the digital transformation of the financial services sector, especially for those that struggle with the challenge of legacy IT infrastructure or tech debt issues. 

This report from Fenergo VP Market Development, Cengiz Kiamil, covers how digital transformation rewards innovation, ways to overcome the risk of disintermediation, and the opportunities of taking a SaaS approach to technology with cloud services, diving into: 

  • Tech debt and how to reduce it  
  • The skyrocketing growth of embedded finance and other fintech 
  • How digital transformation directly translates to increased profits 
  • The way to succeed when undergoing digital transformation projects 

Find out how Fenergo digitally transforms compliance for your business here.

About the Author

Cengiz Kiamil, VP Market Development, Fenergo Cengiz heads up the Market Development division of Fenergo, bringing clarity and understanding to market challenges and identifying areas for growth. He has over a decade’s experience in commercial, corporate, and institutional banking as well as digital strategy and innovation experience from across the financial services industry. Cengiz was previously at Standard Chartered Bank in Singapore and HSBC in both London and Hong Kong.

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