How Can Insurance Companies Ensure Their Advancement?

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Mobile Insurance Players

Much of the insurance industry is stuck in its ways when it comes to their legacy systems and innovation. However, investments in new technology, innovation labs, rapid prototyping and user testing, as well as an adoption of agile practices are increasing as the world moves further into a digital landscape. In the startup era, there are an increasing number of … Read More

Still Running Legacy Systems? Don’t Join This List!

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Updating legacy systems will reduce cybercrime

As technology allows us to do more online, it also leaves us vulnerable to cyberattacks. The internet has evolved since its inception and understanding and monitoring cybercrime as it progresses is critical for every organization’s security. Institutions across all industries are affected by this problem — especially those who have some sort of personal, financial or medical data on their … Read More

Fintech Innovation and the Dangers of Legacy Systems

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The need for security in the banking industry is greater than ever, and innovation in the industry’s multiple sectors has taken off in the last few years. Unfortunately, the veterans in the industry are falling behind with innovation and that results in a dangerous test of fate for customers. According to The Guardian, Federal Reserve has been hacked more than … Read More

Millennial Online Banking Survey

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Recent studies revealed that 71% of Millennials would rather go to the dentist than listen to their bank. 73% said they would be more excited about new financial service offerings from Google or Apple than from their bank and 1 in 4 said they would rather bank with a tech company than their current bank. Coupled with the many denial … Read More

Mobilization Is Critical

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Banco Popular

We’ve seen a huge shift in mobile commerce over the last year. According to a Time article, “Nearly 70% of Amazon’s customers shopped via mobile devices this holiday season.” The same article referenced Walmart’s announcement in December that stated more than 70% of traffic to its website is coming from mobile, and about half of holiday orders were placed using … Read More

Why Outsourcing Legacy Modernization Projects Will Improve Employee Morale

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Employee Morale

Outdated legacy systems are crippling many sectors of the economy. Federal systems probably lead the way with 80-90% of government IT spend being on keeping the lights on (keeping outdated legacy systems up and running). Congressional investigators recently stated that the government currently operates nearly two dozen information systems that date back to 1980 or earlier. Fallout and continued challenges … Read More

TOTVS COTS Investment Funds Software Modernization

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TOTVS

TOTVS is a Brazilian software, service, platform, and consultancy company. They are the market leader in Brazil and Latin America and one of the largest integrated management system (ERP) developers in the world. TOTVS provide solutions to many industry sectors including financial services. Custody and Controllership of Investment Funds (CCIF) is one of many COTS (commercial-off-the-shelf) software products offered to … Read More