The financial sector is no stranger to digitization. From automated teller machines (ATMs) to online banking and virtual assistants, the financial sector has been a home to rapid innovation brought about by tech solutions. The potential for IT solutions in this sector is massive and active research are being made to better improve the solutions for finance, banking, as well as loan collection in this sector for the individual, corporation and government.

The need for digital transformation in financial sector is being endorsed by reputable financial institutions and regulatory bodies. In a speech by CIBN President, Bayo Olugbemi, at the virtual 2021 CIBN graduates' induction and prize awards day, he urged banks and employees to leverage technology to deliver products and services to their numerous customers at their convenience. He said the future which was anticipated would come in some years' time is now is here due to the pandemic that accelerated the pace of digital transformation, and technological advancements are being used to develop products tailored to suit to customers changing needs.

These changing needs are the need for more custom solutions and personalized customer experience. For the workforce, as we saw from the pandemic and its aftermath, there is the need for more efficient means for team collaboration and cooperation. "Smart" organizations have begun implementing cloud solutions for ensuring increased connectivity among staff especially during remote working.

The adoption of these digitalized solutions has left the financial sector prey to threats that come with their implementation. According to reports, cyberattacks on the financial sector in 2021 saw an increase of 238% in 2021 – and the year hadn't ended yet. The greatest cost to the financial sector now is cyberattack and industry leaders know well that prevention is always better that remediating after the damage is done

At Xown, we aim to guide your organization through all the phases of your digital journey. Be it for deploying technology to increase workflow, improve collaboration and increase overall efficiency or to secure your organizations against ever evolving threats in your industry. Together with our partners, we provide cloud-based solutions for increased connectivity and collaboration, and even identity and access management as you move to full or partial remote working.

With these being said, it means a robust security solution for your organization will also be one which provides capacity for cloud deployment and security at the endpoints. We provide you with these tools to enable you secure your organization against these threats and more to come.

Looking to embark on digital transformation for your organization? Book a meeting with us today!