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Digital Transformation with an API- led integration strategy
75

Oct 26, 2021

Digital Transformation with an API- led integration strategy

Pritesh Jain Senior Technical Architect, Digital Business

Digital enablement leveraging significant incorporation of ‘API-first’ driven integration solutions is inevitable. The architecture community needs to be cognizant of the API development approaches, technology perspectives, and governance aspects in...
5G Edge Computing
51
Edge computing brings computing power closer to the user, where decisions are made in real-time or near real-time. The edge network is based on 5G technology that provides the foundation for this distributed architecture by delivering network...
Extrapolating the future of sports
36
The sports media landscape is witnessing a radical transformation. Innovative technology is offering the industry endless opportunities to engage fans with customized and immersive experiences. As the world of sports returns to normal with numerous...
Ideapreneurship™
64

Oct 14, 2021

Ideapreneurship™, an idea driven culture to realize business outcomes

Johan Louter Senior Sales Director & Business Development Manager, Microsoft Business Unit,

Looking beyond contracts? Why ideapreneurship™ brings you and your client to a higher level with better business outcomes. We live in an era of great possibilities. Digital platform technology allows enterprises, to quickly offer and deliver,...
Stakeholder Experience Transformation
54
The healthcare industry is on the cusp of widespread digital transformation, being pushed against the wall owing to the pressures exerted by the pandemic. Appropriate digital interventions can bring together isolated systems in a highly regulated...
Leveraging HCL Cloud Smart for SAP t
11
Cloud Smart for SAP is a full-stack offering to accelerate the customer’s cloud transformation journey with SAP S/4HANA at the core. This blog outlines the various flavours of the Cloud Smart for SAP framework and show how this benefits the...
An Essential Cloud Strategy
21

Oct 05, 2021

HCL Cloud Smart: An Essential Cloud Strategy for New-age, Dynamic Enterprises

Deepak Jha Deputy General Manager - Hybrid Cloud Business

Adoption to Cloud is always a smart choice, however the entire process & journey should be backed up by a smart strategy which should be Intelligent enough to get maximum benefits of Cloud Adoption. This blog explains the WHY, WHAT &...
Enhancing customer journeys with D2C experiences
67

Oct 01, 2021

Enhancing customer journeys with D2C experiences

Anil Balwanti Associate Vice President, Digital Business

We live in a global world, where the modern customer is spoiled for choice by enterprises competing for his business. In this hypercompetitive market landscape, businesses must explore alternative avenues of reaching their customers while creating...
Ultilies
112
Factors such as product underutilization, poor implementation, and limited knowledge contribute to the overall ineffectiveness of asset management. Therefore, the utilities are looking to improve their asset management system for tighter integration...
Byzantine Fault Tolerance
6,720
Various consensus mechanisms or protocols in a distributed system or blockchain technology inherently deal with the Byzantine Generals Problem. There are many solutions that provide a partial answer to this issue, if not full. Consensus implies the...
VSAM to RDBMS
1,577

Oct 12, 2020

Modernizing the Legacy File System - VSAM to RDBMS

Antony Dasan Arravindh Group Project Manager, Digital & Analytics

With an increasing demand for migrating or modernizing application that uses legacy file systems such as VSAM, it is becoming imperative to convert the files to RDBMS. It not only helps to manage the data effectively but also reduces the cost of...
What is Digital Infrastructure?
18,378

Apr 21, 2016

What is Digital Infrastructure?

Alan Flower SENIOR VICE PRESIDENT | GLOBAL HEAD – CLOUD NATIVE LABS & ADVISORY SERVICES | CTO – EMEA

Corporate strategies are now based on digital transformation. Businesses are now focussing on customer engagement/UX, rapid innovation etc. A new class of digital infrastructure is evolving, one which better supports this digital transformation.
Digital Transformation with an API- led integration strategy
75

Oct 26, 2021

Digital Transformation with an API- led integration strategy

Pritesh Jain Senior Technical Architect, Digital Business

Digital enablement leveraging significant incorporation of ‘API-first’ driven integration solutions is inevitable. The architecture community needs to be cognizant of the API development approaches, technology perspectives, and governance aspects in...
Ideapreneurship™
64

Oct 14, 2021

Ideapreneurship™, an idea driven culture to realize business outcomes

Johan Louter Senior Sales Director & Business Development Manager, Microsoft Business Unit,

Looking beyond contracts? Why ideapreneurship™ brings you and your client to a higher level with better business outcomes. We live in an era of great possibilities. Digital platform technology allows enterprises, to quickly offer and deliver,...
Changed Realities in Hospitality Industry post COVID-19
2,149
The global COVID-19 outbreak has affected businesses, especially the travel and hospitality industry, and disrupted the continuity of operations. As we come to terms with the pandemic, industries are grappling the consequences of an economic...
Boost ROI with 365-Degree
561

Sep 05, 2017

How to Boost ROI with 365-Degree Consumer Mapping across the New Purchase Pathway

Amitava Sengupta Executive Vice President - Digital Consulting, Digital and Analytics

Jennie is buying her monthly groceries online. She checks out a pack of organic cereals, really likes one, but it falls a bit outside her budget. She decides she doesn’t really need it. The next day, while on her way to office, she passes by a store...
Digital Age
3,374

Nov 12, 2019

Reinventing for the digital age via the fenix 2.0 framework

Anand Birje Senior Corporate Vice President and Global Head, Digital Business

As organizations focus on transformation objectives and create a roadmap of initiatives focused on business objectives, it is critical that they plan transformation initiatives across other dimensions. For example, organizational agility enables...
Celebrating the Past and Inspiring the Future
178
The first virtual global Pega Day event organized on 16th July 2021, to celebrate the decade long HCL and Pega partnership. The theme “celebrating the past and inspiring the future” was a grand success and we look forward to...
Santosh Kumar

5 FinTech trends to watch in 2016
Santosh Kumar - Senior sales director & Head – Fintech Innovation | February 29, 2016
1803 Views

Financial Services are at the cusp of digital disruption. We might not be witnessing a 'revolution', but all the emerging trends and technologies are certainly proving that we are in the midst of an ‘evolution’.

Most of the large global banks are born pre-digital and are facing the challenge of legacy infrastructure, software, and culture. On the other hand, the new challenger banks are born-digital and carry no baggage of legacy. They are creating products and services that are relevant to the digital age customer’s needs.

Most of the large global banks are planning to either start their new digital banks or buy stakes in some of the challenger banks just as BBVA did recently by taking ~30% stakes in Atom bank. At the least, we will witness many pre-digital born banks investing in and embracing digital trends and technologies in 2016.

Here are 5 FinTech trends to watch out for in 2016:​

  • Blockchain - Distributed Ledger:

    Financial services organizations are racing to harness the power of the Bitcoin infrastructure to slash costs. The basic technology underpinning the Bitcoin virtual currency could be used by some of the world's biggest banks. These banks want to use the Blockchain method because it is hard to fool - making fraud difficult, speed up trading systems and make deals more transparent. Many banks such as UBS are already trying out Blockchain technology for different use cases.

    Blockchain is the software that both powers and regulates cryptocurrency Bitcoin. In its most basic form, it records ownership of Bitcoin — money — and transactions — one person paying another. The software uses a distributed ledger to police the network, which means a certain proportion of the vast network must sign-off on a transaction before it can be processed. This replaces the need for a ‘trusted middleman’ in a transaction.

    The project to test Blockchain-like technology is being led by financial technology firm R3 which has so far signed 30 banks. R3 has done a good job bringing all the rival banks together. We are witnessing a great interest across financial services on trying out this disruptive technology and will continue to see investment in 2016 to try out specific use cases that can give banks a competitive advantage.

  • Biometrics:

    2015 was the year that banks began to experiment seriously with biometrics: US financial provider USAA already offers three different biometric login options for its mobile customers (Touch ID, Facial recognition, and Voice recognition). Biometrics has been the ‘Next Big Thing’ in authentication for a long time now, but many things that have held it back have not gone away. There is often the need for costly additional equipment, and processes that require verification by a back office platform which makes it slow. Wells Fargo is testing voice recognition and eye scanning, joining an increasing number of banks and other financial services companies using biometrics technology to authenticate customers using their mobile applications. Nearly one-third of the largest US banks plan to make biometrics available to mobile banking customers by the end of this year.

  • Artificial Intelligence (AI):

    Robots have begun their invasion of banking. Robots and Artificial Intelligence (AI) in banking have the potential to reduce costs, expand skills, and improve the customer experience while working alongside or replacing humans. According to an article, Barclays believes that AI is the future of banking, and one bank in Tokyo is already staffed by a helpful robot. We have already seen rudimentary examples where users can talk to a computer system to make money transfers or access information. 

    Robo-advisors, or fully-automated online investment platforms, are also disrupting the financial advisory services. FinTech startups such as Betterment and Wealthfront have managed to pull early investors with their robo-advising platforms offering the perks of low fees and a reduced entry barrier when it comes to minimums. Many large banks including Deutsche Bank have launched their robo-advisor services. Automated financial advisors and planners that assist users in making financial decisions is a very strong use case. 

    We are certain to see an increased investment into AI in 2016 across financial services.

  • The API Economy:

    APIs are yet another vital trend driving disruption, and fueling FinTech startups and open banking data initiatives worldwide. Some of the new banks such as Fidor bank are already reaping the benefits of open APIs. With new rules such as European Payment Service Directive (PSD2) coming into existence, banks will have to implement APIs that can provide access to payment account information to third parties – including their competitor banks – following the customer’s explicit consent.

    Consumers now have the power to engage and perform transactions wherever they are, through a device of their choice. To engage customers across all digital media, banks need to be able to provide contextual and personalized product offerings and drive immediate conversion through embedded offerings. With the advent of APIs, banks can easily expose their product catalogs, payment wallets, and other services to digital customers.

    APIs are an important component in the digital architecture and banks are investing in building modern applications that can service their customer on a platform of their choice at any point in time. We will continue to see increased investment in 2016 on building APIs and helping banks serve their digital customers better.

  • Cloud Computing:

    Cloud has become one of the mainstream strategy topics for most large global banks. The debate is not if, but, how will they eventually embrace cloud – if not public cloud, then private cloud or hybrid cloud – and which version to select for which function.

    Banks will continue adopting Cloud services for their business applications, while carefully keeping sensitive data housed at private data centers. According to CIO.com, Deutsche Bank plans to have 80% of its systems based in the cloud by 2020. Today, cloud has matured and covers a panacea of Software-as-a-Service, Infrastructure-as-a-Service, Platform-as-a-Service, and more. It is certain that if not public, private, and hybrid clouds will play a vital role in the banks’ digital future.

    Join us at Netherland India Business Meet 2016 to hear Santosh kumar speak on ‘The changing face of Financial Services’


Giving the digital challengers a run for their money with two-speed it
Rahul Singh - President, Financial Services | February 26, 2016
1340 Views

The financial services industry has experienced significant disruption over the past few years, as digital technology innovation has ushered in a new era of intense rivalry.

Arpan Chatterjee

Digitalisation - Figurative & Quantifiable Dimensions
Arpan Chatterjee - Sales Director - Travel, Transportation and Logistics | December 16, 2015
289 Views

At the cost of repeating myself… ‘What exactly is Digitalisation?’ This certainly seems to be the talk of the town, but is this buzzword a new concept or once again, a fundamental and radical idea, but in a new package? Secondly, assuming for a moment that this is important for today’s business, how does Digitalisation impact the Travel, Transport, Logistics and Hospitality business?