In surveying the CTOs/CIOs of Lab’s partner organizations, the business priorities centered on a few major themes for financial institutions and insurance companies.
Specific areas of interest for fintechs and insurtechs are (but not limited to):
- Data: Alternative and synthetic data, predictive analytics, artificial intelligence (AI) based insights, unstructured data, new data sources, fraud management in insurance, and data privacy
- Digital Client Engagement: Client acquisition and retention; product customization; and experience personalization
- Future of Work: Talent sourcing, onboarding, engagement and retention; virtual and hybrid experiences
- Inclusion & Diversity: Financial wellness and inclusion (un-banked – and under-banked), and diversity
- Metaverse/Web 3.0: Distributed ledger technology, blockchain, digital assets, cryptocurrency solutions, decentralized finance and insurance; smart contracts, customer experience, digital twins, and e-commerce enablement
- Payments: Global commerce, foreign exchange transactions, and infrastructure modernization
- Risk and Compliance: Automation, risk assessment, regulatory compliance, digital identity and security solutions, and records management
- Sustainability: Environmental, social, and corporate governance (ESG); carbon solutions; risk identification, reporting and mitigation; sustainable investment; and education solutions
Solutions in these areas can incorporate Artificial Intelligence, Machine Learning, Natural Language Processing, Enterprise Architecture, and Cloud Utilization (and more) across banking, insurance, investment management, capital markets, payments, CFO/treasury and other corporate functions
While the above list are our partners stated priorities, if you are developing a new solution that is not on this list but relevant for financial services—and cutting edge—we welcome you to apply as well.