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In the quest of achieving business process automation (BPA), enterprises are emphasizing seamless integration of outcome-specific applications. However, they are often plagued by disparate architecture, legacy systems, and data fragmentation. It is…
Anti-Money Laundering (AML) is a set of policies and guidelines that helps banks and financial institutions (FIs) combat money laundering, the process of disguising the proceeds of crime as legitimate income.
Applications, APIs, and workflows are indispensable components of today’s digital economy. They perform the crucial role of connecting systems, devices, and data sets to deliver unparalleled business value.
In this blog series, we will explore multiple dimensions of AI’s impact on the industry and what it means for financial services organizations embarking on their AI adoption journey. In this blog post, we shall look at the key drivers of AI in the…
An enhanced focus on digital technologies is empowering enterprises to streamline operations and stay ahead in a competitive business paradigm.
As more and more organizations accelerate digital transformation initiatives, the need of the hour has…
Recent global disruptions have accelerated the digitization of financial services (FS). Many financial institutions globally, including loan and mortgage organizations, had to demonstrate resiliency and adapt fast to meet evolving customer…
pKYC, or Perpetual KYC, is a relatively new approach to financial crime prevention that gives promises of better customer experiences, more efficient financial crime prevention and higher cost efficiency.
Nov 09, 2022
The lending and financial services (FS) industry is going through a definitive watershed moment today.
Oct 07, 2022
Despite decades of significant investments, achieving and above all maintaining real-time anti-money laundering (AML) compliance continues to challenge financial institutions (FIs). Cost-income ratios are under pressure as compliance costs grow.
Jan 22, 2020
Starting around 2005, few banks around the world manipulated the LIBOR (London Interbank Offered Rate) benchmark rate for their own profits (from trades and to show that they are more creditworthy) which came to light in the year 2012. After this…
Mar 23, 2020
To address the need for better strategies to increase AUM and revenues, the wealth management industry is constantly evolving with newer models. While robo-advisory has been around for a few years, Marketplace models are emerging as a hybrid…
Mar 23, 2020
CCAR is a united states regulatory framework governed by Federal reserve to assess, regulate & supervise large US banks that are too big to fail. Post 2008 Global economic crisis/subprime crisis/Recession, resulted in economic collapse of US…
The face of lending has changed ¾ from large banks and financial institutions to online consumer and lenders. With the pandemic mandating social distancing and lockdowns, businesses and individuals are looking for lenders that can perform the…
Nov 21, 2019
Over the years, banks have lost millions of dollars due to unplanned outages or downtime in the services. This has also created a negative impact on a bank’s reputation and brand image. Many a time, these services are being managed by outsourced…
Sep 27, 2021
The lending solutions industry is in the midst of a new awakening. Advanced technologies have given lenders the opportunity to improve efficiencies. Software tools, such as HCL’s EXACTOTM are integrating machine learning with automation to handle…
Employee engagement is one of the hardest metrics to quantify, especially with respect to its impact on the bottom-line of any business. In the US, separate research from Gallup and The Engagement Institute estimates that a disengaged workforce…
Mar 23, 2020
Banks may need start increasing their capital reserve to offset off-balance sheet activities. For banks operating on Standardized Approach, there may be an improvement in Risk Weighted Assets (RWA) if their books have a lower Loan-to-Value (LTV).…
After reading this blog, reader will be able to correlate the problems of manual claims processing and how an organization can overcome those problems through an intelligent data capture solution like EXACTO™.