In financial services, banks are renewing their core systems to enable real-time processing, standardization, and increased efficiency. Basel III regulations in banking and Solvency II in insurance will soon come into force and will require integration and real-time analysis of disparate data sources to assess risk exposure.
With communications forming a key component of many other industry sectors, telcos are creating a range of new capabilities, such as payment, identity, and mobile services, and are becoming integrated into the value chain in areas such as telehealth, smart metering, and digital cities.
In energy and utilities, there is a wholesale transition from analogue to digital, with smart grids and smart metering transforming the value chain. This digital infrastructure generates huge volumes of data, which can be used to optimize maintenance, predict demand, and cross-sell services, but requires a redesign of the information architecture.
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