In my previous post, I discussed what data privacy is and why it’s important? In my post today I want to discuss data privacy laws, specifically involving New York State Department of Financial Services (NYDFS) 23 NYCRR 500. The New York State Department of Financial Services (NYDFS) 23 NYCRR 500 is a set of regulations […]
Posts Tagged ‘Financial Services’
Behind the Scenes of Implementing Financial Services Cloud
Implementing New Tech for Financial Services The financial services industry has a few extra things to look out for when implementing new technology than other organizations. Between evolving regulations and compliance requirements, having a tool that can grow with you is increasingly important, especially when everything seems to be moving to the cloud. Creating an […]
[Guide] Data Privacy Laws in Financial Services: NYDFS 500 & GDPR
What is Data Privacy and Why is it Important? Data privacy, or data protection, is the relationship between the collection and dissemination of data, technology, the public perception and expectation of privacy, and the political and legal issues surrounding it all. Individuals, as well as businesses, want to protect their sensitive data, the unauthorized disclosure […]
Benefits of Deploying Financial Services Systems in the Cloud pt2
As a firm migrates financial services applications to the cloud, systems integration becomes of paramount importance. When some applications remain on-premises while others are housed in the cloud, data must seamlessly and securely be transferred bi-directionally, and in a timeframe consistent with operational requirements. Some of the integration techniques used when all applications are within […]
Benefits of Deploying Financial Service Systems in the Cloud
While deploying key financial service systems in the cloud has numerous advantages, the paradigm, as compared to on-premises systems, is sufficiently different as to require a comprehensive analysis of risks and readiness. The benefits of the cloud have been well documented (reduced up-front infrastructure costs, speed, ability to add server and storage resources on demand, […]
Migrating Core Financial Services Applications to the Cloud
In our most recent blog post, we outlined and discussed the components required for a successful financial process transformation. Today, we focus on migrating to the cloud with your core financial service applications. It wasn’t that long ago that financial services firms shunned the cloud. In 2010, Forrester Research published a report entitled “Cloud Computing […]
Components of a Financial Transformation Program
The previous blog post in this series about transforming financial processes discussed the adjunct applications and their role in control and efficiency. This week, we take a detail look into the components of a successful transformation. Once the impediments to a firm’s financial process are understood, a targeted remediation effort can be constructed. Depending on […]
Change Management Lessons for Salesforce Financial Services Cloud
Bringing new technology to a team is always going to bring a set of challenges. As humans, we are creatures of habit, but we also have the ability to understand the logic behind adapting to the needs of the future. When the Dark Cloud of Change is Already Looming For any business to succeed long-term, […]
Adjunct Apps: Improved Financial Process Control and Efficiency
Previously, we outlined a few areas of concern in the financial transformation process. The installment this week features adjunct applications and their role in control and efficiency. While not critical components of a firm’s financial process, there are supporting applications that can be deployed to speed and better control the operation. Master data maintenance, exception […]
Perficient Digital Wins IAC Award for New App
Perficient Digital is proud to partner with our clients in creating better experiences for their customers and internal teams. We’re even more proud when that hard work is recognized by other experts in our industry, which happened this week when the new, multi-platform mobile app we helped create for GM Financial was named Best Financial […]
Identifying Points of Concern in the Financial Process
Last week, our blog series featured steps to crafting an effective financial system process. This week we change gears and point out a few areas of concern to be aware of in the process. Financial processes are not static. Changes to a firm’s business model (management, organizational structure, acquisitions, products, markets, countries of operation, etc.), […]
Crafting an Effective Financial System Process
Our last blog in this series focused on embarking on the financial transformation process. The content this week will outline the effective financial system process and the steps to take when beginning. The General Ledger system is, of course, the heart of a firm’s financial system. A properly functioning General Ledger is, however, but one […]