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Financial Services

 

What keeps you up at night?

The financial services industry is currently in the midst of a massive digitalization wave.Mobile devices have become ubiquitous, tech-innovation and artificial intelligence (AI) is at the core of the transformation, with a new generation of millennial customers demanding enhanced, value-added services and enriched experiences.In light of this new ‘experience economy’ modern businesses must aspire towards becoming 21St Century Enterprises – companies driven by ‘experience-centricity, agility, service and outcome based orientation’.Additionally, a number of Fintech trends are gaining a quick foothold in the industry. It’s essential these ‘disruptive’ technology forces are assimilated by established financial enterprises, in order to better serve customers and cement brand loyalty. Application modernization is also at the forefront of this revolution, redefining customer experience.

HCL offers a smart, focused and differentiated financial IT services portfolio addressing the need of the hour - helping companies stay ahead of the game. HCL’s IT solutions for financial services are targeted at rationalizing and converging IT and operations across regions and business divisions, to optimize cost, and bring agility with renewed focus on  regulatory compliance and customer centricity.

DigitalFinTechApplication

Market Segments

Why should you consider HCL?

  • Growth through innovative approaches. Our clients — from Fortune 500 corporations to regional financial services companies that are a lifeline for their local communities — partner with us to discover innovative ways to adapt to shifting regulations, achieve continuous simplification of IT and operations, improve their customer experience, and gain access to new products and markets. HCL delivers these benefits with help of its financial IT solutions through a tailored combination of nine critical factors categorized across three mainstays of value creation.
  • Leveraging the eco-system
    • Co-innovation for technology: Identifying end-user insights and developing ideas for a joint go-to-market
    • Co-development with partners: Best-in-class products and SI capabilities that reduce risk and accelerate time to market
    • Co-creation for thought leadership: Engaging analysts, advisors, and influencers to create business value from IT
  • Nurturing the value chain
    • Fully served customer: Business-aligned IT to offer seamless integration of business processes, applications, and infrastructure
    • Cost-structure transformation: Unlocking capital from best-in-class Run The Business (RTB) processes and reinvesting the savings into a transformational agenda of customers
    • Front-office transformation: Helping banks and financial services companies address the evolving needs of the connected-customer community
  •  Expanding the business model
    • Skin in the game: Joint ventures and special-purpose vehicles that deliver financial value beyond traditional finance and accounting outsourcing benchmarks
    • Pricing constructs: Convenient models such as Day 1 Committed Cost Savings and Gain share models
    • Collaborative sourcing: Customer-need-based commercial structuring, benchmarked predictable SLAs, continuous reportage, and process innovation
  • HCL as a Valuable Partner. Traditional finance and accounting outsourcing models are beginning to disintegrate in the “new normal.” CIOs and vendor management offices now seek partners who can assist them with financial services technology  consulting, and financial services software and strategies that help reduce supplier fragmentation, align with business objectives, leverage outcome-based models, and seek innovation and value addition beyond the contract. This model also provides global service delivery and delivery excellence, along with simplified engagement governance. View some of our unique engagements.

How can HCL help you?

  1. Streamlining/cost take out across operations and technology: HCL helps clients achieve this balance by enabling savings in ‘Run-the-Bank’ activities to be channelled into ‘Change-the-Bank’ initiatives, through: Front-to-back integration (Vertical Systems Integration); Creation of Shared Services and Utilities through proprietary frameworks, such as ALT ASM™ for application maintenance utility, and Enterprise Functions as a Service (EFaaS™) for shared services; and TCO reduction through carve outs and asset monetization.
  2. Engaging customers: HCL helps transform your customer interaction touch points and processes through a focused Customer Experience Management value proposition for financial services companies, which enables seamless integration across distribution channels. This helps you derive actionable business insights to chart a customer’s journey through up-sell/cross-sell opportunities and industrialized digital marketing.
  3. Innovating to stay ahead of competition: In today’s business economy, efficiency and innovation are big competitive advantages enabling higher margins and wider play for product prices. HCL helps clients innovate while leveraging technology to deliver business impact through Front-end transformation, Platform-led transformation, and Data and Analytics led- transformation. A lot of these initiatives are brought to life in HCL’s client specific Co-Innovation Labs as well as at HCL’s celebrated grassroots level value creation initiative – Value Portal.
  4. Managing risk: Effective data management and process discipline are the first steps toward risk control, monitoring and compliance. HCL enables this through a centralized risk governance framework. HCL helps leading financial services firms across the globe, comply with the changing regulations, efficiently manage data, and establish an overarching governance and risk framework through a dedicated Risk and Compliance management practice. HCL also offers integrated solutions for Financial Crime & Surveillance for retail and institutional clients.
  5. Partnerships: HCL unlocks value and synergies for customers through multiple alliance models backed by decades of strategic partnership experience with the top Global 500 firms. These alliance models have in-built variable pricing structures and can help rationalize a bank’s balance sheets to meet regulatory and end-client requirements.

The Products section provides more details about our offerings. Contact us to set up a conversation with HCL.

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White Paper

Feasibility of Multi Instance Consolidation
Multi-instance consolidation feasibility evaluation methodology
Best in class Direct Banking
Building best-in-class Direct Banking
Insurance in 2020 and beyond, are Insurers ready?
Insurance in 2020 and beyond, are Insurers ready?
Gamification in Insurance
Gamification in Insurance

Case Studies

Optimizing Claims Processing and Document Management
Optimizing Claims Processing and Document Management
End to end channel transformation
HCL helps the client with end-to-end channel transformation to delight its end customers

HCL Research

CEB - The New Face of Regulatory Response
The New Face of Regulatory Response: Opportunity

Brochure

HCL Cards Business Services
HCL Cards Business Services
Next Generation Banking Analytics
Nextgen Banking Analytics
GRC for Business Excellence
Navigating Governance, Risk and Compliance Challenges to Drive Business Excellence
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We will treat any information you submit with us as confidential. Please read our privacy statement for additional information.

What Customers Say

“This is wonderful stuff, the type of activities that make a big difference to our customer. Truly great work, and please keep it up” – On Successful implementation of WRAP project.

–CIO Large Programs, Leading Bank in Australia and NZ 

The combined efforts of our Asset Finance and Commercial Lending IT Service Delivery team and HCL have resulted in an 80% reduction in P1 and P2 incidents over 2010. This is a great testimony to Applications and Operations’ dedication to embed strong service management disciplines, including incident, problem, change, capacity, availability and service continuity management.

- CIO Retail & Business Banking ES, A Large Australian Bank


3 Steps to Becoming a Data & Analytics Driven Enterprise

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