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LIBOR to RFR
313
The transition from London Inter-Bank Offered Rate (LIBOR) to alternative risk-free rates is posing a global risk in recent times. There are over $400 trillion in loans and derivative contracts globally exposed to LIBOR. In this article, we analyze ...
iBM Cloud
161
In this blog, Rajesh talks about how IBM Cloud serves as an ideal public cloud service that is designed specifically to address all the concerns of a financial enterprise.
Digital Foundation Solutions
148
In this blog, DK delineates how containers technology and containerization as a process can help enterprises induce efficiency, scalability, and flexibility into their workflows. He also elaborates on how HCL & Red Hat can be instrumental in...
KubeVirt and OpenShift
436
In this blog, Nitin Tandon and Amit Sharma delineate the importance of Container-native virtualization and how it can help enterprises accelerate the importance of the container platform and this will improve the availability of the application...
AI applications
791
Adoption of AI is becoming a common phenomenon across the industry. Companies are in different stages of AI maturity and depending on the level of adoption they are seeing varying levels of impact. While there is lot of excitement in the rapid...
Empowering French Enterprises
499
France has aspired to become a "digital republic" and has invested heavily in digital innovation. The French government has supported its digital champions and provides the necessary infrastructure for hyper-innovation. French companies, are now,...
Application modernization
984

Nov 27, 2020

Challenges of Legacy Application Modernization

Shyam Kumar Sundarakumar Senior Solution Architect, Digital & Analytics

Many organizations that carry heavy legacy baggage, are faced with many challenges running their legacy technology-based applications with many risks like reduced skill-availability, technology obsolescence etc. This article provides a brief insight...
Open Innovation
582

Nov 20, 2020

The HCL API hub

Swati Agarwal Group Manager, Banking solutions

The HCL API Hub provides an online platform for consumers (banks, third party systems, etc.) to connect with multiple banks or corporate ERP systems through a single, consistent API per function. The APIs typically represent standard banking...
SAP Business Technology Platform
454
In this blog, Ameekar delineates the importance of multi-cloud strategy that will be instrumental in developing and maintaining a competitive advantage in a digital economy where agility is key. He also highlights the importance of architecting the...
Managed Engineering Services
1,580
Today, companies are looking to be agile, lean, and improve continuously. Discover how managed model in engineering services answers problem with staff augmentation model
Automation
2,387
AI and Automation, the terms that bring excitement and fear simultaneously on the face of any ma
How to Craft User-Centered Applications?
1,459
Understand why participation of users during the design and development process leads to a more user friendly and user satisfying application.
Container
1,817
As containers start to gain adoption and transform the IT landscape, its success would not only depend on simplifying technology but how well the process and people aspects of organizations get aligned to this new wave. This is similar to the 90’s...
Data Operation
285

Feb 17, 2021

Banking Platform Integration during M&A

Vijay Krishnan S Practice manager, Banking Domain

Due to rapid growth in the banking sector, Mergers and Acquisitions (M&A) between banks are becoming inevitable worldwide. With banks wanting to venture into new markets and expand its area of operations and due to rise in regulatory pressure on...
Analytics use cases in Disability Claim management
473

Jul 23, 2020

Analytics use cases in Disability Claim management

Veeraraghavan Kazhiyur Mannar Business Manager- Insurance Practice, HCL Financial Services

Disability claim management is a complex area in the claims value chain. Short Term Disability (STD) and Long Term Disability claims (LTD) constitute the two most important types of disability claims.  These are living benefits and are tied to...
KubeVirt and OpenShift
436
In this blog, Nitin Tandon and Amit Sharma delineate the importance of Container-native virtualization and how it can help enterprises accelerate the importance of the container platform and this will improve the availability of the application...
Application Migration Decision Tree
210

Jul 28, 2021

Migration to M365/O365: A Decision Tree

Subhasis Karmakar Senior Technical Manager, Digital & Analytics

Enterprises have hastened their cloud deployment plans with a desire to equip their office-based workers, who turned into remote workers overnight, with technologies to support agile work. Thus they intend to undergo cloud migration, whether from on...
Nimble and Efficient
561
‘Single-purpose’ software served as a much-needed breakthrough in enterprise software development. Such software manifested themselves on central systems wherein information was collated across business functions to enable actionable decision-...
Rahul Kandhari

Kubernetes Autoscaling Enigma: How To Get It Right?
Rahul Kandhari - Director, HCL DRYiCE | March 5, 2021
93 Views

This blog explains various autoscaling options available on Cloud, based on the demands of your workloads. Elasticity should not be taken for granted and it is available out-of-the-box by virtue of only being on the Cloud. Determination of the scalability form best suited for the application needs to be made by the application designer or the application architect.

Vijay Krishnan S

Banking Platform Integration during M&A
Vijay Krishnan S - Practice manager, Banking Domain, HCL Financial Services | February 17, 2021
285 Views

Due to rapid growth in the banking sector, Mergers and Acquisitions (M&A) between banks are becoming inevitable worldwide. With banks wanting to venture into new markets and expand its area of operations and due to rise in regulatory pressure on banks performance, the small and medium-sized banks become an easy target for established banks to grow inorganically. Globally, the M&A landscape in the banking industry is changing at a very fast pace.

The recent key trends that have come up in the global banking M&A scenario are:

  • Banks are trying to improve their global footprints while they try to strengthen their portfolios and reach economies of scale
  • Failure of banks to maintain the regulatory standards as prescribed by the central banks

In this article, we will analyze the challenges that may arise during integration of IT platforms in a merger. We will also closely look into a case where banks faced challenges in consolidating their Core Banking Platform (for Savings Accounts and Current Accounts) and how HCL Technologies Ltd was able to provide a solution that helped them mitigate the issues and provide seamless transition.


Haris Chinnabathini

Enabling Financial Institution's transition from LIBOR to RFR through technology platform upgrade
Harish Chinnabathini - Senior Test Lead | February 16, 2021
313 Views

The transition from London Inter-Bank Offered Rate (LIBOR) to alternative risk-free rates is posing a global risk in recent times. There are over $400 trillion in loans and derivative contracts globally exposed to LIBOR. In this article, we analyze some of the key challenges of the LIBOR transition and how they were addressed by leveraging on Loan management system upgrade.

Despite global uncertainty due to Covid-19, FCA (Financial Conduct Authority) and other regulators are proceeding ahead with the LIBOR transition. Consequently, it has been unavoidable remediation for any financial institution. Banks have numerous contracts linked to LIBOR and the same must be transitioned to the new Risk-Free Rate (RFR) regime smoothly.

To cater to the LIBOR transition, the banks / FIs will have to ensure that while the Loan Management System (LMS) has holistic capabilities like recon, payment, limit management, and accounting and control, they should also have the flexibility to adapt to the recent changes.

In a typical upgrade project for LIBOR compliance, there will be several phases and each phase with its objective to enhance the product quality. it is important to implement system tests, Integration tests, UAT (User Acceptance Testing), and DRH. The projects can be managed in an agile fashion with a higher focus on sprint planning and timeline to achieve objectives along with walkthrough sessions and formal test review meetings to achieve quality in testing.

HCL has vast experience in implementing market leading Loan Management Systems (LMS) systems for customers across the globe. HCL has been the preferred partner for various LMS implementations. As a part of the LIBOR upgrade, HCL has supported banks in the LIBOR upgrade and transition to the new RFR Successfully and transition to the RFR regime before the stipulated timelines of LIBOR sunset.