Financial Services & Insurance

Technology Solutions to Accelerate Digital Transformation and Meet Evolving Requirements

Upgrade your digital capabilities to streamline processes and respond faster to demands from customers, end-users, and regulators.

How We Help > Your Industry > Financial Services & Insurance

Financial Services and Insurance Companies are Under More Pressure Than Ever

The global financial and insurance industry is transforming rapidly – and radically. Financial and insurance institutions have been tasked with responding to escalating customer demands and changing regulatory requirements with new levels of speed and flexibility.

The growth in volume and variety of data is exponential, and companies struggle with accessing, managing, and leveraging it effectively. Silos, disparate technologies, and redundant systems abound, creating numerous visibility and management challenges. Legacy systems and ad hoc solutions struggle to keep pace with change, leading to missed SLAs, downtime, and poor customer experiences.

The Challenge of Just Keeping up

Customer expectations are soaring, and financial institutions are challenged to keep up. Customers expect to engage when and how they want – through physical, digital, and mobile means – and their demands for personalized experiences across all channels push disconnected legacy systems to their limits.

The need for improved regulatory compliance and security is only increasing with time, as financial institutions must respond to mandatory new regulatory and security requirements. Protecting data is critical and financial institutions must ensure that sensitive, high-value data is exchanged more securely, efficiently, and reliably than ever before.


Responding to Disruption

Furthermore, in the wake of the pandemic, financial institutions are tasked with reinventing their business models and solutions to become more digitized. Leveraging technologies such as cloud, integration, and AI is no longer optional – they’re required to reduce complexity, increase automation, transform their operations, accelerate innovation, and enable the delivery of new products and services. Also, the increased adoption of mobile payments and other consumer technologies throughout the crisis are driving customers to demand services that are more transparent, secure, and integrated into their lives and businesses.

How We Help in Financial Services Companies and Insurers

We help financial and insurance leaders optimize their digital capabilities to not only keep up with modern demands but navigate through disruption and get ahead of the curve. A modern IT infrastructure enables enterprises to react more effectively to emerging needs and recover faster to business disruptions.

Our experienced business and IT teams possess decades of knowledge around helping financial and insurance companies reduce complexity, implement cost-effective technology solutions, and accelerate business outcomes. We help modernize legacy systems and ensure the seamless flow of information by connecting all systems, data sources, and devices.

financial reliability

Automation and improved workflows help address customer needs faster. Modernized web and mobile experiences help to increase customer engagement and elevate customer experiences.

Because security and compliance are always top-of-mind, we offer solutions to enable highly secure and reliable data exchanges, while protecting companies from breaches, risks, and penalties. In addition, we help to ensure always-on operations, protecting your company and its customers from downtime.

Finally, by optimizing data management and enabling better insights, we help financial services and insurance companies drive better outcomes enterprise-wide.

Increasing Agility to Strengthen Your Future

Solutions and expertise from Lightwell empower future-focused organizations and help to overcome numerous challenges. 

  • Responding to disruption and adapting to the “new normal”
  • Disconnected, siloed systems and data sources create numerous inefficiencies
  • Ensuring security and reliability of files and documents
  • Elevated risk of audit, missed SLAs, and penalties
  • Manual processes are costly, error-prone, and unreliable
  • Data silos negatively impact experiences and revenue
  • Managing B2B partners has become increasingly complex
  • Downtime and latency in recovery are exceedingly costly
  • Client-facing applications aren't keeping up with expectations
  • Multiple, redundant tools are increasing cost and complexity
  • Inability to leverage data to gain meaningful insights
  • Limited IT resources available for modernization and innovation
  • Growth is limited by inflexible legacy technologies
  • Challenges leveraging the cloud
  • Aligning business and IT to achieve company goals

Transforming the business to respond to disruption and adapt to the “new normal.”

We help financial services and insurance businesses become more resilient and agile.  We optimize enterprise and business architectures, increase visibility, and enable greater composability. We ensure alignment between business and IT goals and help your organization develop strategies and roadmaps for addressing today’s challenges.

Disconnected, siloed systems and data sources create numerous inefficiencies and blind spots.

By leveraging APIs and enabling seamless integration between internal and external systems, we’ll help you unlock critical data sources, improve and digitize processes, and gain end-to-end visibility. You’ll be able to access, aggregate, and transform critical data from across organizational silos. Our prebuilt tools, templates, frameworks, and deep manufacturing industry expertise speed up the process.

Financial services companies need secure, reliable exchange of files and documents between systems and partners.

Our B2B integration and secure file transfer solutions help to guarantee the timely delivery of data. They automate your B2B exchanges and file transfers, with scalability to handle your most demanding workloads. They also allow you to respond to new file exchange opportunities presented by modern technologies. Our solutions incorporate secure protocols, encryption, digital signatures, and identity management for data security. Improved visibility and controls help you recover and restart failed exchanges and file transfers with ease. High-speed file transfer capabilities move high volumes of files and huge files quickly.

Elevated risk of audit, missed SLAs, and non-compliance penalties.

We help financial services organizations respond to mandatory new regulatory reporting and data security requirements. Visibility over file transfers with audit trails and reports help to verify and ensure adherence to SLAs. With always-on availability, you’ll avoid downtime and ensure compliance with service level agreements.

Manual processes are costly, error-prone, and unreliable, which negatively impacts relationships and profitability.

We help companies automate, digitize, and streamline manual internal and B2B business processes so they’re easier to manage, faster to execute, and more accurate. Lightwell solutions help you identify and resolve problems much quicker. You’ll improve efficiency, business partner relationships, and – with newfound responsiveness – attract new customers.

Data housed in multiple silos present divergent views of the customer, leading to poor customer experiences and impeding cross-sell opportunities.

Our data analytics team optimizes your data collection and management processes, so you achieve a complete, accurate view of the customer – even their household. As a result, you’ll deliver more personalized customer service and relevant offerings.

Reducing the cost and complexity of supporting a dynamic and changing partner network.

We help to streamline and simplify B2B partner onboarding and management, accelerating time-to-market, and improving satisfaction. You’ll reduce the time and resources required to onboard new partners and improve how you manage and maintain existing partners’ profiles.

Current disaster recovery approaches result in occasional downtime, latency in recovery, and inflated costs.

Our solutions help meet the demands of high-availability operations – and better prepare for disruption or disaster recovery. Our modern data management and high-availability global mailbox solutions ensure always-on operations, prevent data loss, and enable real-time recovery.

Client-facing applications are slow and outdated, negatively impacting their experience and hurting the company’s bottom line.

Through expert application development capabilities and partnerships with industry-leading technology providers, we help to develop and modernize applications, interfaces, and mobile experiences that increase customer engagement, differentiate your company, and enable you to expand into new markets. Furthermore, by leveraging our DevOps consultants, financial services and insurance companies will optimize development processes for driving better results faster.

Multiple translation, integration, and file transfer tools create silos, drive up costs, and create inefficiencies.

We help consolidate multiple solutions / gateways / tools where appropriate to create scalable, secure, best-in-class platforms. As a result, you’ll streamline management, eliminate silos, and improve visibility.

Being overwhelmed by business-critical data, and inability to leverage it to gain meaningful insights.

We help you overcome complex data challenges to build a rich foundation of high-quality, trusted data. Through improved BI dashboards and analytics, your managers will make better, faster decisions based on timely, actionable insights. With a solid data architecture in place, you can also leverage AI and advanced analytics tools more effectively to drive business outcomes.

Limited IT resources for implementing and managing modernized solutions.

Many companies have partnered with Lightwell as an extension of their team, where we run all or part of their critical B2B, file transfer, and other solutions for them via our managed services. We provide end-to-end management of solutions, on-premise in the cloud, or hybrid. We can also offer individual IT resources – or even complete, dedicated development teams – to help you achieve your vision quickly and cost-effectively.

Outdated, legacy technology stacks are inflexible, impair scalability, and limit growth.

Our team of architects, engineers, and developers helps modernize your legacy applications to address today’s demands more effectively. Through integration and APIs, we’ll help you refresh and extend aging systems and build a future-proof architecture. Leveraging deep solution expertise, we also help you upgrade and optimize your mission-critical solutions – on-premise or in the cloud. Modern solutions with extendable architectures facilitate your growth and enable the real-time flow of information. Our team can also help you optimize your Enterprise, Business, Information, and Solution architecture for meeting your current and future demands.

Challenges adapting to hybrid cloud environments and leveraging cloud-based technologies.

We’ll help you adapt to hybrid cloud environments through a full range of cloud services and flexible deployment models. We’ll partner with you to develop and execute a cloud strategy, transform applications for the cloud, and create new cloud-native applications to move your business into the future. Leveraging integration and APIs, we can ensure seamless connectivity between your systems and data wherever they reside. We can also help you manage solutions in the hybrid cloud.

Aligning business and IT in order to achieve digital transformation and other organizational goals – as quickly and cost-effectively as possible.

Leveraging extensive Enterprise Architecture experience, we’ll help you develop the strategies, roadmaps, timelines, architectures, and projects to achieve your goals faster while maximizing your ROI.

Proven Solutions for Financial Services & Insurance

Our experienced business and IT teams provide insight, expertise, and guidance throughout your initiative. Here are some of the most common ways we help.

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