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BFS
66

Mar 23, 2020

CCAR - Comprehensive Capital Analysis and Review

Vimal Jain Senior Business Specialist, Delivery Practice

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...
Credit Risk
53

Mar 23, 2020

Basel IV Credit Risk

Goutham Karthik Ramasamy Senior Business Analyst

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)....
Collateral Management
138

Mar 23, 2020

Collateral Management Landscape

Vimal Jain Senior Business Specialist, Delivery Practice

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...
Wearables
76

Mar 20, 2020

Wearables - To Wear or not to Wear!

Sridhar R Practice Manager

Riding on wearable technology, many Financial institutions and Fintech firms have started building solutions that appeal to tech savvy clients underscoring customer experience and customized service to stay ahead of the curve in the market. ...
SOFR and Libor
565

Jan 22, 2020

Transition from LIBOR to SOFR

Kaviya V Senior Business Analyst

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...
consent management
361
Open banking provides customers with the ability to securely share financial data among banks and accredited fin techs. Data in open banking has pushed banks to kick start innovations around payments and customer financial management with many...
Banking
371
When it comes to innovation and adoption, Nordics countries are one of the foremost in the world. The region is already a global leader in electronic payments with very little reliance on cash.  But now, Europe’s most Northern members are...
Interpretable Machine Learning
77

Nov 29, 2019

Interpretable Machine Learning

Kishore Joseph General Manager

What is interpretability? Simply stated, it is having the ability to confidently tell, how/why a machine learning model is making the decisions, it was tasked to make. Why it is important ? We can today predict that some customers may no longer be...
Fintech
868

Nov 21, 2019

BS11 Impacts and its IT Implications

Rouble Saha Senior Business Manager

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...
Collateral Management
138

Mar 23, 2020

Collateral Management Landscape

Vimal Jain Senior Business Specialist, Delivery Practice

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...
SOFR and Libor
565

Jan 22, 2020

Transition from LIBOR to SOFR

Kaviya V Senior Business Analyst

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...
Fintech
868

Nov 21, 2019

BS11 Impacts and its IT Implications

Rouble Saha Senior Business Manager

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...
Exacto
434

Aug 21, 2019

HCL’s EXACTO Intelligent Automation Streamlines Bank Trade Processing

Andy Efstathiou Banking Sourcing Research Director, NelsonHall

HCL’s EXACTO Intelligent Automation Streamlines Bank Trade Processing
Swift
1,420

Oct 16, 2019

SWIFT GPI

Rouble Saha Senior Business Manager

The cross border transactions have historically been a puzzle for most of the banks as they cannot predict the exact time and fees to complete the transaction. Moreover, it becomes very difficult to track the payment once it goes out of the...
Wearables
76

Mar 20, 2020

Wearables - To Wear or not to Wear!

Sridhar R Practice Manager

Riding on wearable technology, many Financial institutions and Fintech firms have started building solutions that appeal to tech savvy clients underscoring customer experience and customized service to stay ahead of the curve in the market. ...
BFS
66

Mar 23, 2020

CCAR - Comprehensive Capital Analysis and Review

Vimal Jain Senior Business Specialist, Delivery Practice

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...
Credit Risk
53

Mar 23, 2020

Basel IV Credit Risk

Goutham Karthik Ramasamy Senior Business Analyst

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)....
Transformation
1,358
Client on boarding (COB) refers to all activities that are performed during the acquisition of new customers and plays an integral role in subsequent interactions during the complete customer lifecycle - ranging from all the mandatory KYC, AML, risk...

Don’t Let Your Legacy Systems Make You Irrelevant
Jaspaul Saini - Delivering Advisory and IT Systems | March 17, 2016
422 Views

This is the first in a series of blogs that examines how ‘internet savvy’ challengers are entering the insurance market and what this can mean to an industry that has traditionally been perceived as ‘stodgy’, ‘risk averse’ and ‘slow to change’. The blog goes on to discuss the legacy technology challenges that are hampering the industry today, and how different modernization strategies and/or radically new operating models are needed to compete in the future.


Disruption in Insurance industry – is it sporadic
Murali Mohana Rao - Senior Business Specialist With Insurance Practice | March 17, 2016
729 Views

Business Disruption is not new, but, simultaneous disruption in different walks of life and across businesses is the new phenomenon that global businesses are trying to position as an opportunity, challenge, or a threat. With never like before technology led la-uber disruptions surfacing in different industries, business needs to develop a deeper understanding of the underlying factors to come with an effective strategy to survive a possible deluge, if not to differentiate and stand apart. This applies more to industries where sporadic disruptions are surfacing but failing to make a remarkable impact. Insurance is one such industry. I think the insurance industry is poised for a very exciting but challenging phase in coming years.


Make ‘Fun’ to sell insurance & reduce cost - “Gamification in Insurance”
Murali Dharan Haragopal - Head of Global Insurance Business Solution Group | March 17, 2016
1224 Views

Did you know? Games share certain characteristics with insurance, business and our lives! Significant common characteristics include uncertainty, challenge, chance, choices, goal, relevance, reward, rules and terms of agreement.


The New Face of Regulatory Response: Opportunity
CEB Tower group analyst | March 11, 2016
247 Views

The subject of financial services regulatory compliance is likely to elicit a number of responses ranging from yawning to fear.  It is very unlikely this subject will generate enthusiastic support for new opportunities, but the time has come for this to change.


5 FinTech trends to watch in 2016
Santosh Kumar - Senior sales director & Head – Fintech Innovation | February 29, 2016
1755 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
1253 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.

Digital – Thinking Beyond Technology Investments
HARVIND  BHATTI - Sales Director - Digital Financial Services | February 26, 2016
547 Views

The future digital operating model - Part 1

‘Banking is necessary, banks are not.’ -- Bill Gates

Banks, Insurers, and Asset Managers – who are you and what will you become? The borrowed words from Bill Gates above are immediate to Banking, but slowly they will echo across all Financial Services sectors.

At the end of the day, who you become will depend on your strategy and the role you expand to (or retreat to) in your particular part of the financial services value chain. What you need to become though is more obvious and common to all.


Waiting for the ‘UBER movement’
Marc Barad - Senior Principal & Head - Banking & Payments | February 26, 2016
388 Views

I think it is rather chic now to hear about the impending 'UBER movement' in Banking and Financial Services. How we do not need banks and how the FinTech upstarts will take over the world. I am waiting patiently for the 'UBER movement' in banking to occur. Yes, still waiting.

From my vantage point, I see a lot of FinTech startups innovating and creating new opportunities for change. I get it. But will these start-ups 'own' the customer? Is a new payment platform enough to ensnare an entire banking customer relationship? I think not.


Digital Transformation in BFSI - Who can afford the luxury of 2-speed IT?
Vidya Bhushan - Senior Sales Director - Capital Markets | February 26, 2016
636 Views

Digital Transformation in BFSI industry – The need for integrated transformation

'Customer centricity' of Digital Transformation is often misconstrued with a notion that Digitalization is just about transforming the layer of interaction between firms and its customers - intuitive mobile applications, fancy user interface websites, innovative channels to extend services, etc.


HCL Guidewire Systems Integrator WIN – The NLC Story
Admin | October 14, 2015
459 Views