The Financial Services sector is unique in its own ways; it has a wide customer outreach, it relies on income from investments, can have high-net-worth customers, and can sometimes deal with distributors/sales agents to acquire new customers. The high degree of competition in this industry also means there is pressure to price products optimally and to also increase brand value.

While the priorities for this sector are unique, the goals for BFSI companies are still the same as any company outside this sector; perform with a better bottom line and with greater operational efficiency. Customers are also valued assets to BFSI companies and therefore customer retention as well as acquisition become relevant priorities. Data is key to understanding customers, investment products and schemes, sales and operational excellence. Only upon understanding can one move up the value chain and prescribe further actions.

Banking, Financial Services and Insurance Companies also require to report to regulatory government bodies that curb risks taken. Automating standard reports can save efforts and resources for BFSI companies.