The experience of the management team of ASPEKT in the financial industry is what leaded the company into researching this complex market and finding a niche segment that experienced lack of suitable technological solution to resolve operational issues.
ASPEKT analyzed the global financial market and identified big parts of Asia, Africa and partially Europe as convenient for introducing Aspekt Product Suite.
This analysis guided ASPEKT into declaring crucial gaps existence between the supply of financial software on the global market and the demand for bigger flexibility, scalability and adaptability of the financial institutions.
The gaps that ASPEKT encountered were:
- Lack of structured system that will help financial institutions transform into influential institutions
- Use of off-the-shelf financial software which is not scalable
- Use of small startup decentralized systems or core software not specialized for financial organizations
- Inability of the software vendors to follow the institutional growth
- Inability of the systems used to support further expansion and changes, which undoubtedly increased the operational costs of system maintenance
- Using of multiple systems which additionally complicated the business process flow and slowed down time-to-market.
ASPEKT decided to bring to market a cost-efficient, adaptable and scalable software solution that completely eliminates labor-intensive operations and integrates business processes from disparate systems in one place, leading to headcount costs reductions and efficiency improvements.