Finances and Insurance
Finance and Insurance: The need for a Balance between Stability and Innovation
Barely any other sector uses IT as long as the finance and the insurance sector does. Hence there are many stable processes and system landscapes. However, at the same time there is a new competition coming from firms with innovative new digital business models. Mobile apps or approaches on artificial intelligence hold potential to offer customers entirely new services and can lead to competitive advantages.
The ongoing digitalization of the finance and insurance sector results in enormous amounts of data and transactions that needs to be processed, Therefore, scalability becomes a crucial factor for digital business models in this area.
A financial service provide wants to integrate a real time credit rating in his products. For this it is planned to track multiple interactions of the users in order to calculate a score at the end of the transaction. The system needs to be able to handle many contact points of a few thousand users in parallel.
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