The Finance and Insurance Services vertical primarily consists of banking (checking/ savings, investments, and credit/ lending), insurance (personal and business lines), payment processing, and FinTech. Across these industries, we are seeing widespread change through digital technologies and an evolution of expectations presented by new generational players.

Financial services companies and organizations are predicated on their ability to support their customers and provide fiscal peace of mind. To that end, as data becomes increasingly plentiful, digital transformation efforts like data analytics, artificial intelligence, machine learning, and blockchain serve to predict, discover, and prevent security breaches and personalize customers’ plans. A transition to digital currencies and payment technologies continues to evolve the customer experience around asset, wealth, and cash management. Going hand in hand with digital wealth management, Finance and Insurance Services companies are also continuing to trend toward developing their mobile apps, web portals, and other digital tools. Chatbots for the financial services industry become more prevalent every day, offering 24/7 support to users, and users have found digital products make their finance and insurance management easier than ever.

The long-term IT spending for insurance is forecast to grow at a CAGR of 6.1% to $286.4 billion by 2025

Source: Gartner

The long-term IT spending for insurance is forecast to grow at a CAGR of 6.1% to $286.4 billion by 2025.

Source: Gartner

Percent of all consumer and small business loans that will be originated through AI-enabled and automated processes by 2023.

Source: IDC

US digital payment revenues are estimated to reach $1.3 trillion in 2021, and expected to grow at 12% CAGR through 2025.

Source: Statistica


digital transformation for financial services companies

While many of these changes are enabled by digital disruption and technology, they are brought upon by changes in human behavior. New desires, new expectations, and new problems all lead to digital solutions, but to simply jump directly to those solutions is to misstep. Our digital business team believes in a customer-centric mindset to meet your needs through agile, outcome-driven methodology. DMI starts our digital transformation strategy with an understanding of people – both the end customers and the employees that support them – and digs into what challenges and pain points they feel. This allows us to prioritize driving their financial and personal outcomes while supporting business goals. Our human-centric approach allows us to build strategic visions for financial services organizations, and our constant focus on them allows us to continually adapt those strategies alongside this rapidly evolving landscape. DMI believes in improving the customer experience in the process of improving the business through digital transformation.


financial services digital transformation

DMI offers a comprehensive suite of services, solutions, and products specifically designed to usher in digital transformation in the finance industry. By implementing advanced data analytics, we provide insightful analyses to support decision-making and strategy formulation. We leverage innovative technology solutions that enable the financial services sector to achieve greater operational efficiencies, streamline processes, and adapt to the latest digital transformation trends. This all-encompassing digital transformation strategy ensures that financial service companies can meet the demands of the rapidly changing financial services landscape and equip them with the tools and strategies to flourish in the digital age.