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Blockchain
18

Jul 07, 2020

Agile Architecture - The Unicorn Realized

Raghavendra Dani Senior Solutions Architect, Digital & Analytics

The number of companies adopting the Agile methodology today is growing exponentially by the day.
Business Continuity Planning
36
Business Continuity Planning - An amalgamation of the right technology stack, agile organization culture, and proper disaster recovery strategy. A strategy that not only involves planning around the technology but also ensures that all the aspects...
Hybrid Cloud Cost Optimization
62
CIOs and CTOs are looking to the cloud solutions for cost Optimization and adopting the Hybrid Cloud solutions. The agile ways of working along with consumption-based cloud models help the organizations to reduce the overall cost and same can be...
Reskilling in Digital Age
14

Jul 06, 2020

Reskilling in Digital Age

Jitin Joglekar AGM - Learning and Development, Digital Process Operations (DPO)

In the age of Machine Learning, RPA, Analytics, Natural Language Processing, Chatbots and continuously evolving technologies, ‘Reskilling’ isn’t a choice anymore. In earlier days ‘Reskilling’ was considered more of a fancy term than a requirement....
Digital Customer Engagement in the Era of Social Distancing
18

Jul 06, 2020

Digital Customer Engagement in the Era of Social Distancing

Mustafa Sabuwala Principal – Financial Services, APAC

Social distancing norms offers a remarkable opportunity for financial institutions to bolster their digital engagement journeys for products and services that have traditionally been exchanged via face-to-face interaction at the branches. There are...
Bring the industry focus to dark data
96

Jul 02, 2020

Bring the industry focus to dark data

Virendra Shekhawat Group Manager – Hybrid Cloud Services

Most of the organizations are good in managing structured data, but still there is so much of industry-critical data that exists in an unstructured format causing an exponential increase in data storage cost due to its maintenance of hot tiered...
Reskilling in Digital Age: Up Your Game!
7
The industrial revolution built the leading cities of the world we live in today. In the early 1900s, the advent of mass production and assembly lines transformed the job market. The age of mass production gave birth to new skills and introduced new...
Understanding the Nuances of Agile and DevOps
76

Jun 29, 2020

Understanding the Nuances of Agile and DevOps

Ajay Nagori Group Manager, Digital & Analytics

In a thriving world of fast-paced business environment and ever-changing business requirements, traditional linear approaches towards SDLC are fast becoming obsolete. The need for the new generation is to adopt nimble and agile approaches that...
IT Compliance in Biopharma
59

Jun 26, 2020

IT Compliance in Biopharma

GS Gopalkrishnan Lead Consultant, Digital & Analytics

A key feature in the life sciences industry, IT compliance activity work in tandem with the quality management team.  Good practices process is therefore is an essential feature for manufacturing, laboratory, research, and other systems from...
Accelerating successful
981
Businesses across the spectrum are expected to experience disruptions of some degree due to the COVID-19 impact. Changes at fundamental levels, as well as radical overhauls in existing structures and processes, are already in place to ensure...
Faster Release Cycles for Hybrid Enterprise Application Platforms
371

Jun 23, 2020

Faster Release Cycles for Hybrid Enterprise Application Platforms

Jaydeep Chaudhuri Operations Director, Digital & Analytics

Enterprises today, regardless of size, are made up of SaaS (Software as a Service), COTS (Commercial Off the Shelf), and set of bespoke apps. These are tools that assist decision making, business insights and customer journeys. Placing all three in...
 A Data & Analytics Perspective
480
Cloud computing and moving data to a cloud system is key to effective data management and security. Data migration need to be handled with care so that it is effective and efficient. There are some approaches around migration optimization, cloud...
What is Digital Infrastructure?
14,409

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.
Insurance Perspective
370

Jun 05, 2020

Resilient Omnichannel Customer Services During the COVID-19 Pandemic: An Insurance Perspective

Neeraj Prasad Chief Operating Officer, HCL Insurance Business Services (IBS)

Today, as a technology organization, we know that omnichannel customer service systems can be developed and launched in as little as 8 weeks. These systems can help prop up back-office operations, help enterprises engage with their customer and...
Pandemic Analytics
4,365

Mar 31, 2020

Pandemic Analytics: How Data is Helping Us Combat COVID-19

David Sogn Associate Vice President – Digital & Analytics

With almost 750,000 people affected, including more than 35,000 deaths, the novel Coronavirus, or COVID-19, is wreaking havoc across the globe on an unprecedented scale. The novel Coronavirus is having a far-reaching impact as people across the...
covid-19
2,292

Apr 13, 2020

Impact of COVID-19 On Global Supply Chains & Opportunities in a Post-COVID World

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

Transportation restrictions imposed by various governments all over the world, have severely disrupted global supply chains. Challenges in manufacturing, procurement, distribution, and retail are on the rise, leading to major problems in certain...
Measuring Business Architecture
149

Jun 23, 2020

Measuring Business Architecture Health for Continuous Improvement

Kaushik Mishra Senior Business Manager, Digital & Analytics

Organizations are grappling with the challenges of an ever-evolving business architecture landscape and are in the quest of business strategies, tools, and applications to ride over these challenges. From modernizing legacy systems to creating new...
ICT in the light of CoviD
990
The Covid situation has popped up as an unprecedented challenge for humankind as different sectors, communities, and individuals look to mitigate the risks associated with it at each level.

5 FinTech trends to watch in 2016
Santosh Kumar - Senior sales director & Head – Fintech Innovation | February 29, 2016
1768 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 and Global Head - Financial Services | February 26, 2016
1272 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.

Digitalisation - Figurative & Quantifiable Dimensions
Arpan Chatterjee - Sales Director - Travel, Transportation and Logistics | December 16, 2015
261 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?