From AI to Inclusion: Five Big Themes from Beyond The Document in 2024

As Beyond The Document concludes another ground-breaking year, hosted by Ben Saxton, we’ve traversed pivotal topics, engaging with thought leaders and experts from across the globe.

Now entering its fifth year, Beyond The Document continues to delve into the transformative trends in banking, ERP, and document management systems. Let’s take a moment to reflect on some of the defining insights and discussions from 2024 and their implications for the future.

AI-Driven Solutions and Hyper-Personalisation

2024 marked a surge in advancements in AI-driven solutions and hyper-personalisation in banking communications. These technologies are not only shaping customer interactions but also redefining how businesses perceive and handle data. Back in October 2024, Ben Saxton was joined by Formpipe’s Steve Rhodes who highlighted how these trends are reshaping the customer journey. With Lasernet already offering robust capabilities to retrieve and store data, the integration of AI further refines how customer data is leveraged for tailored communications.

Steve explained that “the amount of data gathered on customers these days is huge, and that’s only going to increase. Lasernet can orchestrate data sources and hold metadata in a configurable archive. And conceivably in the near future, we could use AI integrations to apply intelligent processes to that data in terms of tailoring our output to be more personal and relevant to the customer.”

This idea was echoed by Nelson Wooton of SaaScada, when he sat down with Ben Saxton in February 2024, who described how hyper-personalisation helps banks adapt to customer behaviour.

Nelson discussed that “clients use that data to understand what their customers are doing, what’s working, and what’s not. They can then modify their products to better serve those customers. That’s where it gets really exciting.”

These discussions underline the significant potential of AI and hyper-personalisation to not only streamline processes but also to establish meaningful, data-driven connections with customers.

By leveraging AI-driven solutions, banks can enhance their communication strategies and create deeper, more personalised relationships with their customers. With 2025 poised to see further AI adoption, these capabilities are set to redefine the banking experience on a global scale.

Read more about Lasernet’s role in hyper-personalisation and customised customer communication here.

DORA and Sustainable Business Practices

The upcoming Digital Operational Resilience Act (DORA), becoming law in January 2025, was another critical topic this year. This legislation is reshaping how businesses ensure resilience and sustainability in their operations. In November 2024, Rupert Bull, CEO of The Disruption House, sat down with Ben Saxton and provided valuable insights into how DORA intersects with ESG (Environmental, Social, and Governance) practices, emphasising the growing importance of integrating these frameworks.

Rupert noted that “an overall sustainability capability is a proxy for how well-run a business is. Alongside DORA, CSRD reporting also goes live in January. Financial institutions must now address both sustainability and resiliency in their supply chains, particularly around cyber and data privacy.”

These regulations underscore the growing expectation for businesses to adopt a dual focus on resilience and sustainability, ensuring they can weather disruptions while meeting ethical and environmental standards. This sentiment was echoed on the podcast back in April 2024 when Ben Saxton was joined by Jon May of CBTW.

Jon stated that “for a wealth manager, ESG isn’t a ‘nice to have’ - it’s a must-have. Institutions need a clear vision and implementation plan.”

The integration of sustainability and operational resilience into core business strategies reflects a broader shift toward long-term, value-driven growth. DORA’s introduction is a reminder that businesses must align these priorities to thrive in an increasingly complex regulatory landscape.

Learn more about the upcoming DORA regulations and how Formpipe ensures compliance by reading here.

The Importance of Ecosystems in Banking Software

As banking technology continues to evolve, ecosystems in core banking software have emerged as an indispensable solution to the industry's growing complexities. Ecosystems enable banks to build flexible, future-proof platforms by integrating specialised, best-of-breed software with their existing core systems.

In August 2024, Randy McFarlane of Thought Machine, sat down with Ben Saxton on the podcast to elaborate on how ecosystems streamline transformation efforts by pre-integrating top-tier technologies.

Randy stated that Thought Machine “are a headless core, but banks need more than just a core platform. Historically, they had to identify vendors and build integrations themselves. Our integration library takes that burden off them by curating the best technologies and pre-integrating them, enabling banks to achieve their objectives faster.”

The ability to leverage an ecosystem eliminates the need for banks to rely solely on costly, time-intensive in-house development. Instead, they can rapidly scale, adapt, and innovate by plugging in ready-made solutions tailored to their unique needs. By embracing ecosystems, banks can accelerate innovation and deliver enhanced value to their customers while maintaining agility in an ever-changing environment.

Find out more about how trading legacy rigidity for ecosystem flexibility can help traditional banks meet challenges head one by reading here.

Reducing Data Silos for Greater Efficiency

Data silos have long hindered operational efficiency and collaboration in organisations. Breaking these barriers was a key theme on the December 2024 episode of Beyond The Document, where Ben Saxton was joined by Portal Systems Head of Sales, Patrick Carl, who shared his insights into how leveraging the Microsoft 365 platform can unify organisational data and enhance productivity.

Patrick mentioned that “Microsoft 365 helps reduce silos by bringing data and documents together on one platform. Previously, organisations had separate repositories for invoices, contracts, and department-specific data. Now, all of this can be centralised, creating a unified enterprise content management system.”

Centralising data not only streamlines operations but also fosters a culture of transparency and collaboration. By breaking down silos, organisations can unlock greater efficiency and agility, paving the way for smarter decision-making and quicker response times to emerging challenges. This shift highlights the growing importance of integrated, cloud-based solutions in building modern, data-driven enterprises.

Reducing data silos is just one of many trends transforming the ERP landscape. Explore more key trends shaping the market and system selection here.

Neo-Wealth Players and Financial Inclusion

In April 2024, CBTW’s Jon May joined Ben Saxton to explore the rise of neo-wealth players and the growing focus on serving the underbanked. These emerging players are addressing critical gaps in the market, particularly in regions where traditional banking has failed to penetrate. With demographic and wealth trends shifting, particularly in Asia, opportunities abound for innovative solutions to bridge gaps in financial services.

Jon remarked that “the emergence of challengers and neo-wealth players is transforming markets, especially in Asia. There’s huge potential to serve the underbanked and under-wealth-served populations, driving exciting new opportunities.”

This was further reinforced in October 2024 by Formpipe’s own APAC Partner Sales Manager, Mark Gett, who highlighted the importance of financial inclusion when he sat down with Ben Saxton.

Mark raised the point that “in regions like Indonesia and the Philippines, digital banks are emerging to serve rural and historically underbanked communities. These initiatives are pivotal for advancing financial inclusion and building a more equitable banking landscape.”

The rise of neo-wealth players and digital banks signals a broader trend of financial democratisation, with technology acting as a bridge to underserved populations. As these players continue to innovate, they are poised to reshape the financial services landscape, ensuring a more inclusive and accessible future for all.

Explore Formpipe’s insights from APAC, including key lessons on wealth banking, hyper-personalisation, and advancing financial inclusion, here.

Looking Ahead

2024 was a year of innovation, collaboration, and progress for Beyond The Document. From the rise of AI-driven hyper-personalisation to the push for financial inclusion through neo-wealth players, the podcast has been at the forefront of exploring the trends shaping the industry. These discussions have not only highlighted the challenges but also shone a light on the opportunities awaiting businesses willing to adapt and innovate.

Stay tuned for our next season, launching in early 2025. Never miss an episode by subscribing on your favourite platform, and explore how Formpipe’s solutions can transform your operations by booking a demo today.