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Digital Dexterity
259

Aug 10, 2020

Digital Dexterity will sustain the loyalty of digital-savvy consumers

Rajesh Srivastava Senior Vice President, Financial Services, North America

A recent report from McKinsey shows that the world has jumped five years forward in consumer & business digital adoption in a matter of around eight weeks. According to a June 2020 survey by DXC, 54% of US Insurance consumers said that using an...
Credit Management Restructuration Post-COVID
154

Aug 05, 2020

Credit Management Restructuration Post-COVID

Sudip Lahiri SVP & Head Financial Services Europe

If we look at credit management, with the present COVID-19 scenario, banks are required to be more proactive in protecting their customers as well as themselves against the expected credit losses. And, for that financial institutions need to re-...
Automated Legal Trawl Platform
284

Jul 21, 2020

Automated Legal Trawl Platform - A Crucible for Digital Platform Innovation

Chinmaya Mishra Senior Technical Specialist, Digital & Analytics

IT innovators at Southeast Asian banks have steadily invested in digital platforms over the past decade or so. However, they grapple to embrace business approaches that can maximize the value of the ecosystem than just focusing on increasing...
AI and Machine Learning in Financial Services
979
Needless to say, in this post-COVID-19 world the way businesses and clients interact with each other has irreversibly changed. We have seen banks and other financial institutions leveraging technologies like AI, Machine Learning and Intelligent...
Digital Customer Engagement in the Era of Social Distancing
224

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...
Artificial Intelligence
541

Jun 29, 2020

Artificial Intelligence: Revolutionizing Banking with Predictive Analytics

Ashutosh Uniyal Associate Vice President, Financial Services, ANZ

With the advent of emergent technologies such as AI and automation, coupled with the global need for digital transformation, banks have reached a point where future-facing, proactive changes are no longer value additions but are indeed key...
Managing Business Continuity and Financial Services industry during COVID-19
626
The COVID-19 pandemic is one of the greatest social, health, economic, and financial shocks of the 21st century. While it is going to be hard to predict what’s next, it is crucial for businesses to proactively assess their risks and areas of...
Empathy in Insurance
910

Jun 19, 2020

Never before has empathy been more important in insurance

Rajesh Srivastava Senior Vice President, Financial Services, North America

Insurance penetration rates in the US across both life and non-life segments have weakened in the last decade, dipping from a moderate 3.9% in 2008 to 2.9% by 2018. The number of policies sold has fallen, products that were once attractive to...
360 point of view of your investment
641

Jun 12, 2020

360° view of your Investments

Rangarajan Rupanarayanan Senior Business Manager

Financial Planning plays a vital role in our life as our future is dependent on the same. Across the globe, most individuals work for at least 30 years starting from age 25. They lead a life style that may or may not match their earnings, without...
alternative data
553

May 20, 2020

Alternative data in capital markets

Avinash Dave Global Practice Manager, Capital Markets Services, Financial Services

If we recall, few years back the low latency solutions were offering an edge in investment decision making. Now it’s considered as minimum requirement. The need for alternative data is seen to be increasing and the firms those delay in adapting...
Fintech
4,653
FinTechs are exploiting the gap between the financial services and technology. Increasing use of technology for financial services have led to disruption in the traditional financial services. We can see this change from the way traditional banks...
Managing Business Continuity and Financial Services industry during COVID-19
626
The COVID-19 pandemic is one of the greatest social, health, economic, and financial shocks of the 21st century. While it is going to be hard to predict what’s next, it is crucial for businesses to proactively assess their risks and areas of...
Artificial Intelligence
1,132
We humans are governed by our free will to choose and make decisions. But, in the world of technology and data brokers, those who can predict and drive one to make decisions, are influencing free will.
Cloud
227
The article highlights the current trends in Financial Services and provides an insight on what could be the new focus areas for Financial Services across the globe going forward in 2021.
COVID -19
2,879

Apr 17, 2020

Examining Impact of COVID -19 on Wealth and Asset Management Firms

Ashok Bhat Practice Lead, Capital Management Services, Financial Services, HCL

COVID -19 has seen a worldwide business impact. This blog aims to examine its impact on the Wealth and Asset Management Industry. I would like to highlight my perspective of the analysis in three aspects: Current challenges faced by Asset and...
Banking
220

Dec 08, 2020

Hybrid Cloud & its Impact on Banking

Balakrishnan Jayaraman Senior Enterprise Architect

Balakrishnan Jayaraman shares his insight on why Design and building a hybrid cloud should be an iterative approach. Read more.
Cryptocurrency
1,158
The major disruption in the digital currency world came with the invention of the cryptocurrency or the cryptographic currency such as bitcoin which uses the peer-to-peer (P2P) network to transfer money from one user to other. Unlike normal digital...
Common Domain Model
185

Nov 11, 2020

Common Domain Model – Standardization of derivatives processing

Sumit Ghosal Associate General Manager, Capital Markets Services, Financial Services,

The OTC derivatives market is a highly fragmented one, especially when it comes to the processing of trades by different market participants. Over time, firms and market participants have established their own data formats and representation of...

Cloud for core financial services: The inevitable future
Rahul Singh - President, Financial Services | January 4, 2021
227 Views

The article highlights the current trends in Financial Services and provides an insight on what could be the new focus areas for Financial Services across the globe going forward in 2021.


Going Digital while stopping Fraudsters at the door
Joe Joseph - Head of Risk and Compliance practice, HCL Financial Services | December 9, 2020
124 Views

Account opening is a critical process in a Financial Institution (FI), where verifying the identity of potential customers is a regulatory KYC mandate. While lapses in this process may result in large fraud related financial losses, it could also be a predicate crime that leads to money laundering and terrorism financing - attracting regulatory scrutiny, huge fines and reputational loss.

Remote customer onboarding expectations are soaring – no longer a nice to have, it is now a key differentiator. Challenger “Digital only” banks are fuelling these expectations with the use of innovative technology solutions that address these demands at lower operational costs while staying compliant with regulations.

The identity of potential customers at the onboarding stage still requires documents to be verified. Criminal networks are becoming increasingly sophisticated and banks cannot simply rely on security experts who function based on visual detection methods. These manual verification methods are giving way to automated identity scanning technologies that detect forged identity documents, and along with biometrics have taken a central role in fighting identity fraud.

The aim of modern Identity Verification solutions are to support the Digital Transformation of banks by facilitating e-KYC with Remote Onboarding of Customers at speed while at the same time preventing the propagation of fraud schemes associated with New Account Opening process and enhancing compliance with KYC/AML regulations.

Advances in technology and the evolution of Artificial Intelligence (AI) and Machine Learning (ML) models are spurring innovation forward in many areas in the industry. Its use in the identity verification process has facilitated increased effectiveness and efficiencies in the fight against fraud.


Hybrid Cloud & its Impact on Banking
Balakrishnan Jayaraman - Senior Enterprise Architect | December 8, 2020
220 Views

Balakrishnan Jayaraman shares his insight on why Design and building a hybrid cloud should be an iterative approach. Read more.