Agentic AI: Making AI Work For You
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Financial Service Institutions
Providing Data Solutions for Financial Services. Driving Growth and mitigating risk.
Our Expertise in Financial Services Institutions (FSIs)
In today’s dynamic financial landscape, success hinges on harnessing the power of your data. Banks and insurance firms are under constant pressure to deliver personalised customer experiences, optimise risk management, and drive operational efficiency. At Simpson Associates, we understand that a robust data strategy, underpinned by powerful data platforms for financial services, is the cornerstone of this transformation. We partner with financial services organisations like yours to unlock the true potential of your data, delivering tailored solutions that drive tangible value.
Leveraging cutting-edge technologies like Microsoft, Databricks and Denodo, and exploring the transformative power of AI in FSIs, we build agile and scalable data platforms – including logical data platforms – that empower you to make informed decisions, anticipate market trends, and achieve your strategic objectives. This includes expertise in data virtualisation, enabling you to access and integrate data from disparate sources seamlessly.
From data strategy development to data visualisation, through to AI, we help you enhance centralised governance by reducing audit risk and ensuring regulatory compliance with global policy enforcement and data lineage tracking. Furthermore, our solutions increase interoperability and can complement your existing or architecture(s) to better serve user needs.
We understand the specific challenges FSIs face, from improving risk management with data platforms to meeting increasing regulatory demands. Discover how Simpson Associates can help you turn your data into a competitive advantage.
“We need to have our finger on the pulse of what’s happening within the individual business streams so we know with confidence that everything is running well. We have to be able to demonstrate this to our trustees. The information is now there for us to be able to do that.”
David Teasdale
Finance Director, Railpen
Financial Services Specific Data
- 70% As of 2022, nearly 70% of UK financial institutions had integrated cloud solutions into their operations.
- 36% of FSI Executives have successfully utilised AI to reduce operational costs by around 10% highlighting its impact on financial efficiency.
- 78% of financial services organisations have experienced a security breach.
- 69% of FSI leaders claim that digitalisation modernisation initiatives are accelerating, and expected to transform the industry by 2026.
- ~80% of the EMEA population believe that insurance companies should promote sustainable behaviors within their products, demonstrating ethical leadership.
Challenges and Solutions in Financial Service Institutions
Every FSIs data challenges are unique, which is why their data solutions need to be too.
Combining on-premises and cloud solutions with a financial data management platform ensures seamless data integration, while advanced analytics and AI automate processes and generate predictive insights. This approach empowers teams to make informed decisions, improve efficiency, and drive innovation.
Microsoft Fabric offers a robust solution for financial services to analyse customer data, transaction data, and market data. Fabric serves as an umbrella data platform, empowering users through a powerful suite of tools for real-time analytics, that ultimately enhance investment decisions and manage risks effectively.
Our regulations are constantly changing due to the advancement of technology, new rules have been put in place. Will your team be able to implement technology that can grow and adapt based on these regulations?
One of the benefits of a hybrid cloud model is the flexibility. This allows our team to efficiently modify your infrastructure and applications to meet new regulatory requirements with little disruption. We would also maintain close communication to ensure we are always putting your data needs first.
There is a constant threat of cybercrime in our sector, due to the volume of sensitive information we hold. Are your solutions advanced enough to evolve with these threats?
We understand the need for data security is paramount, which is why, to ensure maximum protection, we would suggest a hybrid cloud model. This ensures you are still able to use valuable, pre-exisiting data systems alongside modern technology that is made with data security at its core.
Financial Service Institutions
Solutions & Services
We offer a range of Financial data management solutions and services that have been created with your FSI in mind. These include: Fabric Accelerator and 5-day Proof of Concept, AI Assessment and our range of Power BI solutions.
Solutions
Technologies
Fabric Accelerator
Get started with Microsoft Fabric quickly and easily, and accelerate your financial service’s data journey to the next phase.
It includes best practice setup and configuration, as well as implementation of a data workload from source to reporting. The package is also flexible enough to incorporate OneSecurity, governance, additional workloads, and AI Proof of Concepts.
Fabric Proof of Concept
Our PoC will provide your firm with a comprehensive understanding of Microsoft Fabric’s features, capabilities, and benefits, giving you the option to choose between report-based or AI-powered use cases.
AI Assessment
Our AI Assessment allows you to harness the power of AI. It provides a comprehensive evaluation of how Artificial Intelligence can transform your ambulance service, through specific ways AI can drive efficiency and optimise operations. This assessment provides expert guidance to propel your financial service’s success.
Modern Data Analytics Assessment
Our Modern Data Analytics Assessment, available as an Essentials or Premium package, focuses on how a data strategy and data platform can enable your firm to reach its business goals. We look at where you are now on your data journey, where you want to be, and most importantly, a roadmap to get you there.
Capability as a Service (CaaS)
Our CaaS offerings provide your firm with flexible access to expert resource without the overheads of fixed costs that full-time hiring. Our CaaS offerings provide the capability you need, when you need it, across key data and analytics roles, ranging from Engineer, Application Developer, Data Scientist and right through to Chief Data Officer (CDO), to ensure your team drive the strategy.
Gen AI
Gen AI has the power to flip your financial service’s data function and increase your efficiency. Our Custom Chat GBT solution starts your journey into AI from no existing capability to instant business value. Going through our process, your firm will own a AI front door that is enriching, expandable and extendible.
Microsoft Fabric
Microsoft Fabric offers financial service firms a robust platform for data integration, analytics, and AI. It enhances decision-making through real-time insights, supports regulatory compliance with secure data management, and drives innovation with advanced machine learning models.
The unified environment streamlines operations, reducing costs and increasing efficiency in delivering personalised financial services.
Microsoft Power BI
Power BI is a powerful tool for FSIs, offering advanced analytics and data visualisation capabilities. It enables the opportunity to aggregate and analyse large datasets, track key performance indicators, and create interactive dashboards. This aids in risk management, regulatory compliance, and strategic decision-making.
By leveraging real-time data insights, financial services can enhance operational efficiency, improve customer experiences, and drive better investment decisions.
Denodo
Denodo’s Logical Data and Data Virtualisation platform helps financial services and insurance institutions integrate data from multiple sources, improving interoperability and offering centralised governance.
By creating a virtual layer on top of existing data sources, Denodo enables FSI’s to easily access and analyse data from various systems, facilitating faster insights and informed decision making.
Let’s harness your data to transform your organisation.
Do you have a similar problem or challenge? We’re not just a service provider; we’re your partner in transforming your organisations data for good. If you’re not sure if we’re the right fit, check out our values.
How can we help you?
Let’s discuss how we can transform your disconnected data into actionable insights for better outcomes.
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