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November 2017 | HCL Technologies

2017-11-30 11:48

The world become inter-connected electronically with each and every devices (approximately 20 billion devices) by 2020. So, the threats would be very huge especially in Financial Services. Hackers would be using hi-tech ideas to steal intellectual property from tech firms. This enforces the financial service companies to take steps for de-risking with the help of Financial Technology (FinTech). Here, FinTech is the...

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2017-11-30 06:44

Our boats will always be boats – they will always have sails and they will always be propelled by the wind – but in many other respects, the Volvo Ocean Race is evolving very quickly.

Over the last two decades, almost every aspect of the race has been transformed by digital technology. From the ability of fans to follow the race now in near-real time to boat design to sailing strategies, almost nothing has been unchanged by IT.

In my first...

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2017-11-29 08:52

Co-authored by : Santhanam Rekha


Financial Services industry is continuously evolving where Innovation is the key to sustain in this cut-throat and fast-paced competitive sector. With the ever increasing demand on the quality of services from the end customers, it is imperative for the companies to formulate ingenious strategies to improve their customer satisfaction and experience and offer services at a...

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2017-11-28 06:52

Technology has been growing exponentially ever since the advent of the internet and Financial Services industry has been the stalwart in the so called tech-novation. It is the first of all industries to fully adopt process automation and reap biblical benefits with it. For instance, through migrating from UNIX to Linux platform, Chicago Mercantile Exchange doubled its daily trades in no time from 1 million to 2.2 million (2004). Various other stock exchanges like NYSE, NASDAQ others followed suit.


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2017-11-28 06:06

Big Data has been touted as the ‘next big thing’; but it is certainly not new. Data has been present since ages, from stone tablets on which people recorded harvest data and kings’ names on temple inscriptions to the more recent programming framework ‘Hadoop’. In fact, the amount of data it can store is nothing short of mind boggling.

In today’s banking landscape, business is driven by data. Data provides valuable insights...

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2017-11-24 09:22

Blockchain has become a topic of active discussion across the globe over the past couple of years. With every industry looking to embrace this new wave of technology and pilot projects within their organizations, the Financial Industry seems more excited to pick up this global trend. The Financial industry in particular, often seems embroiled in multiple customer frauds and security breaches and Insurance is no stranger to this chaos.

Blockchain is referred to as “an open,...

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2017-11-23 10:33

Though Banking as a service is the newest FinTech trend everyone is talking about, we all at least that much aware how the banking industry operated worldwide i.e. financial transactions/offerings. Earlier it was branch-based and mainframe-supported operations, that focused on the efficiency of processing transactions in person, at ATMs, on the phone and with plastic money (debit cards). Relatively recently, the...

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2017-11-23 10:14

What is financial inclusion?

An estimated 2 billion adults worldwide do not have access to basic financial services. A number of them cite lack of sufficient money to open and maintain accounts. This implies that these services are not designed for low income users. In developing countries, more than 200 million micro, small and medium-sized businesses do not have access to formal financing mechanism.i A primary reason for businesses to not have an account is lack of collateral or adequate credit...

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2017-11-23 06:27

Co-author: Puneet Aggarwal

The Lifesciences and healthcare industry is growing fast and along with it the responsibility of protecting consumer’s private data. Recent ransomware attacks on Hospitals in UK and its unfolding ripple effects across the world has led many Payors, providers, Pharma companies among...

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2017-11-23 06:11

Co-author: Vibhor Jain

The life sciences industry is under dynamic transition as new technological development and innovations are changing the traditional methods of conducting clinical trials.

Pharmaceutical companies have to tackle lengthy R&D cycles, which contribute to prolonged time to market for the drug, leading to higher costs. They are, therefore, looking at new ways to optimize their current processes...

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2017-11-23 06:02

Co-Authored by: Nidhi Bajpai

It is a self-evident fact that innovation in technology has taken the front page of all industrial sectors as it has always supported to get the output (desired result) in less time, reduced cost and with limited resources.

In line with this, the clinical research industry positively anticipates that technological innovation supported by organization-specific customized consultancy...

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2017-11-21 07:46

Customer expectations are constantly rising, and personalization of services has gone from being optional to becoming a key imperative and a business driver. Today, companies must invest in creating differentiation through personalized products and services in a manner that engages customers and convinces them to come back for more. This is true of every business: be it e-commerce companies or airlines, each consumer must be treated uniquely to improve customer engagement.

The utilities sector is no...

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2017-11-21 07:11

Co-author: Mohit Arora

Have you ever wondered how Amazon makes a personalized product recommendation? Or, how Siri answers your questions? Or, how Facebook prompts friends to be tagged on the photos you just uploaded? These are some of the real-life examples of applying cognitive technologies.

How does cognitive computation work? It leverages consumers’ historical data and behavioral patterns to generate predictions...

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2017-11-21 06:36

Blockchain – What, When, How?

In the ever-growing list of buzzwords in the tech world, ‘Blockchain’ is one of the most prominent ones today that rings across articles all over the web. A concept brought to light by the infamous Satoshi Nakamoto in 2008, which quickly took the form of the de-centralized currency – ‘Bitcoin’ as we all know today - is now after lots of scrutiny considered to be the next big thing in secure distributed databases. Although the identity of the founder still remains a...

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2017-11-20 10:30

Digital disruptions are imposing greater demands not only on the IT systems but the whole enterprise strategy. The mantra for enterprises to succeed in the digital era is to imbibe agility to evolve and remain relevant amidst a break-neck pace of change, while fostering innovation in exceedingly shorter cycles by drawing on its most critical asset, a talented workforce. Digital workplace for the 21st century must accordingly transform to be closely aligned to the business, with a rigorous focus on...

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2017-11-17 12:04

UI developers are already using patterns in day to day scripts either knowingly or unknowingly. So how effectively can it be used, when we know more about patterns? I am about to take you through the module pattern and its usages, so that we can use it effectively in our scripts.

Let us take an example of a pattern we often use. Consider a scenario where we need to select all elements in the page with class ‘selected’. There are number of ways to do it using native feature like getElementsByClassName...

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2017-11-17 11:47

Amazon Echo and Google Home, popular voice-activated speakers, are radically changing the way people shop. Today, all you need to do is just ask. Given the growing popularity of the voice-command devices, it’s evident that this is the future of retail and consumer product group (RCPG).

In the US, Walmart and Whole Foods are investing heavily in voice-activated shopping. In collaboration with Google, now customers can easily order from Walmart using their voice-enabled assistant, and add the required...

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2017-11-15 09:04

In the 19th century, it might have been hard to imagine the extensive usage of intelligent objects such as IoT-enabled watches, robotic home assistance, etc. But today, smart technologies like these rule the world. Businesses, big or small, are reorienting their strategies to become technology savvy and agile. In order to stay ahead of competition and unlock more value, we need to lean on robotics and similar futuristic technologies.

With the new wave of technologies setting in, let us now analyze,...

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2017-11-15 08:27

Surveys from market research firms may be difficult to interpret, but there’s no denying the fact that Cloud has now become a two-horse race. Amazon Web services and Microsoft Azure are leading the race, with a lot of smaller players trailing far behind. Cloud leadership is further segmented among these two leaders by the type and volume of workloads (IaaS, PaaS, and SaaS) that customers choose to run on their ecosystems.

Among enterprises (1,000+ employees), AWS grew slightly over 2016, with the...

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2017-11-15 07:50

Just because people don’t say anything about a product, it doesn’t mean that the product is perfect. User experience testing, which is often overlooked by stakeholders, helps know what the product, i.e., the website or app, lacks.

As designers, most of us assume that we know what users want based on our experience. And there are popular user experience design myths, such as:

  • “If you are an expert, you don’t have to test your design.”
  • “You are like your users.”


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2017-11-14 11:45

To bring innovation, security, and competition to the fore, the European payment market decided to revisit the Payment Services Directive (PSD).

Since the adoption of PSD in 2007, the European economy witnessed rapid digitalization and innovation. Stiff competition led to significant changes in the payment landscape. There were new entrants in the online payment world and the” payment anywhere- anytime model” heightened financial risks. The new players were outside the scope of PSD and were not...

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2017-11-13 11:42

How can we use machine learning in the insurance industry? Machine learning is an evolving field of data science which focuses on algorithms, written in a way that machines are able to self-study. It uses patterns and predictions to give insights about the new data set that comes in. Machine Learning could change the dynamics of the insurance industry sector. As an essential tool for insurers, it could help in improving underwriting, pricing policies and detecting fraud.

The objective of...

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2017-11-10 11:06

The insurance industry is a heavily competitive industry valued at an estimated $507 billion, or 2.7 percent of the US Gross Domestic Product. For the sector, customer satisfaction is the principal need of the hour, and not just an optional operational aspect. Machine learning, especially a seamless integration of machine learning algorithms, has emerged as an ultimate game-changer in this scenario, allowing adopters to focus on improving compliance, cost structures and competitiveness, while ensuring consumer...

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2017-11-10 07:34

Change is changing – HCL is changing

Even change does not remain the same! It used to be sporadic, then incremental, and now it is being described as disruptive. Globalization, technology, heightened customer expectations, and the growing ability to collect and analyse voluminous data have all played a role in this acceleration of change.

HCL is at the forefront of this change with its global footprint and technology products and services and has recognized that to be a leader in the digital...

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2017-11-10 06:54

With industry conditions being favorable for innovation, digital disruptors are set to transform the investment industry. Firms in the brokerage, retirement, wealth and asset management industries are grappling with multiple challenges as disruptors are resetting investors' expectations about investment management, advice, fees, and customer experience. In the era of hybrid disruptors, prevalent industry models are reshaping the traditional approach of doing business. However, a few areas are bound to be...

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2017-11-08 08:45

Few months ago, I received a call from an insurance aggregator (to demystify, an online insurance broker who helps you with the best choice comparing multiple insurer offers in the market). The person who spoke requested some of my time that could result in big savings on my car and home insurance premiums. 15 minutes into it, I realized that by switching to another insurance company, I could save 50% on my insurance premium for...

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2017-11-07 11:59

A consistent theme across modern market leaders is their ability to cut through the clutter in a connected and competitive world by leveraging the power of data. As product and service markets become more saturated and once differentiated offerings now becoming commoditized, successful organizations have deployed a focused use of processes and technologies to tap into the transformative potential of data and drive competitive advantage.

With the number of devices as well as connectivity between...

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2017-11-06 11:04


Banks and banking systems have been a part of our journey since 2000 BC. The financial sector has witnessed changes and upgrades in its evolutionary process, method, structure of transactions and record of accounts throughout this journey. All through this period, money has been a core entity in influencing the mobility of goods and their process of transaction between two entities (human or organization). Banknotes based transaction took a digital turn around 1950. The subsequent imperative...

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2017-11-06 09:55

Co-authored by: Prithviraj Radhakrishnan


Digital disruption has influenced almost every sector, including Clinical Research (R&D). Pharma companies are competing fiercely to improve their drug discovery efficiency while minimizing costs. Sponsors are struggling with outdated systems, which are neither product-agnostic nor process independent. With the old pen-and-paper system, research teams have...

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2017-11-06 08:08

The Introduction

We all know how the web works. Clients (such as web browsers) send requests to a server. Browsers do not know beforehand about the server and its resources and the server responds with the content requested.

You open every website in the same way, by just typing in the URL. You don’t give a thought to where your resources are and how they are fetched for you.

This is interesting and easy. Right? Unfortunately, that’s not the case if it’s not the web.

You would...

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2017-11-03 09:50

At HCL, we work with business leaders from all aspects of corporate life – finance, accounting, and human resources to engineering, information technology, and customer support – representing the full range of business activities – from small startups to global mega-corporations, from agriculture to manufacturing to robotics, and from services that range from insurance to education, to health care.

The common thread in our discussions and data science practice is business leaders’ goals to use data to...

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2017-11-03 09:27

The product development process, as it was known (‘code, test, and release’) has been going through a continuous evolution over the years. Right from waterfall and iterative to agile and DevOps (Continuous Integration, Continuous Delivery), the changes have been significant. The evolution took place owing, primarily, to a competitive marketplace and the need for companies to keep themselves ahead of the game by offering best-in-class product features to the consumers, as quickly as possible.


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2017-11-02 11:33

This article aims to provide more information on Propensity and similar mathematical models. We would attempt to explain Propensity and the mathematical models in three simple steps: self-education, formal citation, and an example of advertisement: three body problem. We will illustrate how these mathematical models are primarily used in the context of HCL’s Lab 21 projects which are of a large scale data science nature, and how we as a team, conduct research using the current literature available before any...

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2017-11-02 11:14

In continuation to the previous blog on Promoting and Nurturing Innovation and Ideation Techniques- Part 1 let us go through other advance techniques such as SCAMPER, Mind Map, and Reverse thinking for idea generation.


SCAMPER is an acronym, where each letter stands for an action verb which in turn acts as a prompt for creative ideas. Each letter challenges you to play around the features of an object (product/service) in a different way bringing in new ideas.


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2017-11-02 11:09

Today, technology is redefining our lives with certain key consumer expectations like “instant gratification” and “mobility” forcing the disruption everywhere. While everyone embraced these changes in their own way, financial sector felt the disruptive heat via fintech’ companies to fundamentally change the way people transacted business and furthered the concept of “on-demand” services to the next level.

Originally, the term “Fintech” was applied to the back-end technological set-ups of the...

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2017-11-02 08:47

Successful companies are increasingly putting customers, not technology, at the heart of designing products and services. It turns out that understanding what problems customers have and how a product can solve them is more important than simply incorporating new features enabled by the latest technology.

One method for achieving this customer-centric perspective—one that is receiving a lot of attention in its application across many areas of the business—is called “design thinking.” Forrester Research...

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2017-11-01 08:34

In a book that could become an anecdotal archive in Blockchain history, Blockchain Revolution, Don Tapscott states, “Imagine a technology that could preserve our freedom to choose for ourselves, to express these choices in the world, and to control our own destiny, no matter where we lived or were born; How should we think about these opportunities? The answers were right in front of us, compliments of Satoshi Nakamoto.”

Ever since its inception, Blockchain has created cacophonies in the...

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