CRM alone, as a technology platform, does not make an organisation customer-centric nor does it change the focus of the organisation from inward bound to outward bound.

We are no longer in the age of information but in the age of experience. Analysing the vast amounts of data captured during transactions and turning it into valuable information in a timely manner is the order of the day.

Customers are no longer looking for standard products; they are after tailored, interactive financial services solutions. A number of financial services institutions in Australia have engaged in significant transformation to meet this innovation challenge.

According to the latest findings by Salesforce, 67 per cent of consumers aged 18-33 said they would consider purchasing financial services products from non-banking digital disruptors including Google, Apple, Paypal and Amazon. 33 per cent of these purchases will be conducted via mobile.

Banks are losing customers and the simple sales funnel is long gone. Technology has changed consumer behaviour and added a new layer of complexity.

Managing enterprise risk and integrating different sources of information to generate meaningful business insights have dominated the agenda of financial institutions worldwide, however CFOs are dubious about how well their own finance organisation fulfils some of these duties.

When you are a leader in finance, you want to know where your organisation is headed at all times. You want to know how you are doing, what will happen, when it will happen, and why it will happen.

Acquisitions and mergers are part and parcel of modern business, inspiring growth and innovation across the organisation. Yet in the push to unite distinct processes and systems, problems can quickly arise.

The rise of social media, cloud, mobility and big data makes insider threats harder to identify and provide more ways to pass protected information. Read the IBM X-Force Threat Intelligence Quarterly report to learn more how to combat insider threats.

To thrive in volatile times, financial services companies need flexibility in their business planning. Being tied to a static annual budget limits flexibility, making dynamic approaches difficult to implement. Using IBM Cognos TM1 and IBM Business Analytics Software Services, Macquarie Group built an enterprise-wide platform for business planning and performance management that is well-managed and secure.

Analytics has the potential to transform the way an organisation thinks and improve the way it operates. IBM Business Analytics software delivers data-driven insights that help organisations work smarter and outperform their peers.