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65 Modern information management solutions are held to a higher standard due to the influx of confidential data that passes through financial systems. Distrust in these modern systems is a growing challenge. on all channels. Today's consumers expect a proactive approach to deliver the innovative products and services they need. is means gathering customer data, analyzing financial patterns and trends, and to provide a solution that solves their financial need—sometimes before they even know they need it. Following the below suggestions will help generate a positive attitude towards your brand and create an environment of trust: » Enable easy access to customer data. » Review current products and services holistically and assess how to evolve to meet changing customer behaviors and expectations. » Provide your staff with the right training and technology to increase efficiency. RISE OF ARTIFICIAL INTELLIGENCE Intelligent automation (IA) is already shifting the interactions between customers and organizations. Artificial intelligence (AI) and robotic process automation (RPA) are two examples of emerging technologies that fall into the IA category, leveraging software or digital workers to perform highly repetitive tasks in more efficient ways. AI has potential to positively impact key areas of the business such as increasing customer engagement, risk detection/mitigation, and tracking the updates of laws and regulations in real time. When evaluating AI solutions, it's important to keep the following recommendations top of mind: » Analyze current organizational processes for potential improvement opportunities. » If you haven't digitized processes already, look into technology like content services and how it can support digitization efforts and streamline processes. » Conduct sufficient research on IA solutions, including RPA and AI, to see how they could make an impact for your organization. » Remember, the goal of these automation solutions is to streamline repetitive tasks so that employees can focus on work that is more valuable. SPOTLIGHT ON SECURITY Information security is vital for financial services organizations, especially as technology continues to advance. Modern information management solutions are held to a higher standard due to the influx of confidential data that passes through financial systems. Distrust in these modern systems is a growing challenge. However, creating a fully secure solution will help your organization obtain trust of members as well as protect you from liability. Tips on creating a secure system: » Know where confidential information lies. » Set parameters around who has access to what information and only give employees access to the information they need. » Prepare for and detect unexpected security risks. Financial institutions' response to COVID-19, and how quickly they were able to evolve to keep pace with changing consumer demands, has fast-tracked many digital transformation efforts. Digital-first experiences are now the expectation for most consumers, and although there is still some distrust around surrounding new technologies, with the right parameters incorporated into the right processes, these solutions have the power to not only make an immediate business impact but also support growth and customer experience in whatever the next phase looks like. However, as with any important business decision, to be successful, it is vital to find the right platform and technology partner to support your customer experience, technology evolution, and security goals. Steve Comer is the AVP of Financial Services and Insurance sales at Hyland.