Achieving excellence in technology
Thursday 28 September 2017
By Stephen Roberts, Global IT and Change Director
Technology is steadily gathering pace in the business world. From using fully integrated client management systems to implementing more advanced technologies like blockchain, more and more businesses are getting involved. That’s because technology has the ability to streamline processes, making the experience for the end user much smoother and more efficient, which is ultimately what every business wants, to keep clients coming back.
Technology at Equiom
Take the example of our industry, financial services. In our day-to-day activities there are a number of opportunities to improve how we protect client data and the overall client experience. At Equiom, we recently upgraded our global client database software which entailed a large-scale migration process to a new and improved system interface. The project itself took four months to complete, and more than 99,000 tests were carried out across nine different jurisdictions. The end result is a fully modern and up-to-date system with enhanced reporting functionality and security, completed on time with zero downtime to the global business. The upgraded system improves the client experience by reducing the time it takes to look up details and process transactions on a client account. Client queries are handled in a more efficient manner and staff have more time to deal with clients on a more personal level.
It is systems like these that are an integral part of every business. Equally as important as client service is the security and privacy of client data. The financial services sector is the most vulnerable to cyberattacks and security breaches on client data. With new types of security threats appearing each day, many financial institutions are seeking more robust solutions. As a first layer of security, Equiom has migrated its entire IT infrastructure to a fully managed off-site location. Most businesses of our type will be doing the same and this will help separate that data from any kind of on-site disaster or power outage. However, there is also the need for additional layers of security at the client level and institutions like ours have been implementing and maintaining sophisticated systems to deal with potential data breaches and fraud.
Achieving excellence in technology is no easy task. Software upgrades and migration projects often take several months with ongoing involvement from both in-house teams and expert consultants. We have several more projects planned, which will enhance our systems and optimise our use of technology. What the future holds is uncertain but what we do know is that technology is here to stay and with the power to create a whole new client experience, Equiom is fully committed to being a part of it.
If you have any comments or questions, please contact Stephen Roberts.