David Deane, digital consulting leader at EY Americas
EY announced the global launch of EY Nexus for the Financial Services (FS) industry.
The new solution comes after the consulting giant reported combined global revenues of $45.4 billion for the fiscal year ending June 2022, and is part of a three-year $10 billion investment plan in technology, strategy and human resources. Now live, EY Nexus has been implemented in more than 40 financial services companies in six countries.
The cloud-based platform is designed to deliver rapid results to existing businesses and draws on the knowledge of EY’s 60,000 technologists worldwide, as well as the support of 14 delivery centers for highly regulated industries and of five cloud innovation labs. The FS solution will be part of EY’s extensive network of over 60 products and 55 industry alliances serving 180 countries.
EY representatives say the launch of Nexus paves the way for banks, insurers, and wealth and asset managers to build growth and self-disrupt at a time when data talk and change radicals emerge outside the sector.
David Connolly, global insurance technology leader at EY, said: “The industry is at an inflection point, with integrated finance leading the way. EY Nexus is a solution that can integrate into all areas of industry, with the ability to create a new bank or insurance company outside of an organization’s legacy systems at incredible speed. EY teams are beating the drum for customers who recognize that the sheer volume of data collected at every touchpoint in our lives is reshaping the way we do business. »
David Deane, digital consulting leader at EY Americas, said, “Financial services organizations grapple with a variety of strategic priorities – their net zero goals; increased customer expectations, particularly following the global pandemic; how they react to new market entrants; and emerging technology.
“Meeting immediate customer needs is not enough in today’s rapidly changing environment,” continued Deane, “as the trust gap between consumers and financial institutions widens, banks, insurers and Wealth and asset managers have a vital role to play, and it starts with human technology first.