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Banking BPO and Financial Services Outsourcing

Challenges you may be facing

The prolonged financial crisis across global markets has led to economic downturn and more stringent regulatory requirements. This has in turn led to unprecedented cost pressures, along with a need for innovation-driven differentiation in an increasingly competitive market. 

Banking Institutions are faced with a number of challenges today that make them difficult to stay competitive. Not only must they meet the ever-changing regulatory and compliance requirements, but also must implement innovative solutions to help reduce the cost of operations, thereby managing a growth in revenues. In addition, service providers are expected to provide operational efficiencies and improvements beyond the obvious, through innovative approaches.  Transformation of the operations landscape is an eminent requirement for all financial institutions irrespective of their size, in order to remain competitive in the market today.

Similarly, new challenges are being faced in the field of financial stability and the investor’s exposure to risk. Automated trading, including trading by high-frequency trading firms, accounts for approximately 50%-75% of the volume traded on the exchanges each day.  The degree to which technology and automation have taken over the markets is simply extraordinary.  While technological innovation can bring great benefits, the markets’ increasing reliance on technology and automation has resulted in numerous market disruptions over the past several years.

Banks nowadays have tightening budgets and are therefore trying consciously to reduce cost with enhanced revenue cycle management, and adapting to the new regulations. In this sphere, technology-led business operations can play an extremely important part. Issues like removing legacy platforms, unification of customer data, and automation of processes along with the integration of multiple systems, are some of the immediate requirements.  

What we can do for you

HCL has been in the forefront, addressing the changing needs of industry participants through holistic service offerings that transform business operations at strategic and tactical levels via innovative engagement models, building Shared Service Centers (SSC) or Centers of Excellence (CoE), creating a strong regulatory and compliance expertise in regional markets coupled with platform-based commercialized utility. Our value differentiators are intended to resolve customers’ business challenges, optimize their operations, drive innovation and deliver tangible and in-tangible benefits beyond mere cost savings.

Our Banking and Financial Business Process Outsourcing services include:



Real Estate / Mortgage

Lending – Retail and Commercial

  • Customer Acquisition
  • Account Opening
  • Account Maintenance
  • Transaction Processing
  • Customer Service
  • Business Support
  • Customer Acquisition
  • Card Issuance
  • Credit Appraisal
  • Account Servicing
  • Risk Management
  • Reporting
  • Loan Acquisition
  • Processing and Underwriting
  • Loan Closing
  • Ancillary Services
  • Loan Servicing
  • Bankruptcy and Foreclosure Management
  • Loan Setup and Booking
  • Application Processing
  • Credit Analysis
  • Doc Generation and Processing
  • Default Management

Collections and Recoveries

Customer Relationship Management

      KYC / AML

Payment Services

  • Early Stage Collections
  • Late Stage Collections
  • Skip Tracing
  • Lettering
  • Reporting
  • Customer Service
  • Lead Generation
  • Product Helpdesk
  • Customer Helpdesk
  • Cross / Up Sell
  • Client Onboarding
  • Due Diligence / Enhanced Due Diligence
  • Customer Risk Profiling
  • Transaction Monitoring
  • Regulatory Reporting
  • E-Filings
  • Transaction Initiation
  • Standing Instructions
  • Transaction Validation
  • Transaction Posting
  • Settlement and Fees
  • Incoming Transaction Processing

Our Capital Markets services go beyond just middle- and back-office operations, and deliver transformational value to our clients. We serve different segments of players in capital markets which include investment banking and brokerage, asset and wealth management, custodians and fund administrators, for whom we offer the following suite of services, covering all asset classes apt in their business model::

Trade Processing

Clearing and Settlement

Corporate Actions

Invoicing and Billing

  • Trade Capture
  • Validation
  • Enrichment
  • Confirmations
  • Instructions
  • Reporting
  • Pre-matching
  • Fails Management
  • Netting/ Pair Offs
  • Realignments
  • Securities Borrowing and Lending Processing
  • Event Creation
  • Client Notifications
  • Entitlement Calculations
  • Instruction Processing
  • Event Processing
  • Reconciliation


  • Set-up
  • Billing
  • Receivables


Data Management


  • Cash
  • Stock
  • FoBo
  • Intersystem
  • Suspense Accounts
  • Client
  • Counterparty
  • Markets
  • Deals
  • Securities
  • Internal
  • External
  • Client
  • Regulatory


Why should you consider HCL?

For over a decade, HCL has been providing a whole range of financial BPO services to its banking clients, covering savings and deposits, cards, real estate / mortgage and lending product lines and is highly experienced in performing complex activities like underwriting, dispute resolution and charge backs for cards and lending products. We have established CoEs in niche areas such as collections and recoveries, risk advisory services, and analytics.

HCL is considered to be one of the pioneers in the Capital Markets BPO services industry and is positioned as a Star Performer as per the Everest Group PEAK Matrix™ 2014. We were one of the first service providers to set-up the middle- and back-office operations for a global investment bank scaling up to 1,500 FTEs and handling several complex processes like derivatives operations for more than a decade. 

Some of the key differentiators that help us provide value to our clients:

  • Strong experience in building unique and flexible engagement models (BOT, JV, Assisted Captive, Virtual JV, etc.) together with our transaction-based commercial model that helps meet regulatory and compliance requirements
  • Deep domain expertise with dedicated governance, risk and compliance CoEs to keep abreast of regulations such as FATCA, Dodd Frank, Bank Secrecy Act, BASEL III and IV, etc.
  • Platform-based services and multiple platform-based solutions across retail origination, residential mortgage, consumer and commercial lending, payment processing, CRM and retail wealth management, accompanied by partnerships that are helping clients achieve cost savings and productivity gains.
  • The innovative HCL Toscana© Robotic solution which can reduce front- to back-office operations cost by up to 70%.
  • An Integrated Global Delivery Model (IGDM) which focuses on enhancing customer experience through scalable technology-enabled support services.
  • Our proprietary EFaaSTM (Enterprise Function as a Service) offering for finance function transformation that focuses on re-engineering finance processes, standardizing the underlying application platforms, and creating Shared Service Centers (SSCs).

 Business Value to Customers

  • Operation optimization by eliminating 18 sub-processes and 20% of resources through continuous Lean and Six-Sigma projects, delivering $7 million in savings over the engagement period, for a global investment bank.
  • 40% reduction in operation costs through our innovative workflow-driven, multi-location delivery model, for a leading European bank. 
  • 55% reduction in the cost of servicing each account through process automation, for a leading European bank.
  • 35% reduction in the cost of operations through process re-engineering, for a Fortune 200 U.S.-based financial institution.
  • Platform consolidation from over 30 versions and instances into a single version, for a leading global payment technology company.
  • Reduction in Turn Around Time (TAT) from 4 business days to 24 hours to perform AML/KYC verification and onboarding of corporate customers,  for a leading global investment bank.
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Case Studies

Assisted Captive Model
HCL uses Assisted Captive Model to Reduce Cost of Operation for a Large Banking and...
Mortgage App for Enhanced Customer Experience
HCL's Mortgage Mobile Application Help a Leading German Financial Services Firm...


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HCL Toscana Solutions for Banking and Financial Institutions
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HCL Retail Banking Shared Services
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HCL Cards Business Services
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HCL Business Service Offerings for Banking and Capital Markets
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We will treat any information you submit with us as confidential. Please read our privacy statement for additional information.