Digital disruption is forcing banks to rethink operating models. The success of banking depends on who it provides users with more flexible choices, banking simplification, transparency and an improved, positive customer experience. They want an experience on par with that of Uber or Amazon in corporate banking. Start-ups like TransferWise and Simple Tax have identified this need in retail banking, providing greater convenience in conducting transactions. The implementation of regulatory directives like PSD2 will result in banks competing with everyone offering commercial lending, financial services, and banking solutions.
With their dominance under threat, retail banking and corporate banking and commercial lending organizations are embarking on a trajectory for change.
Articulating next-gen retail banking solutions
Traditional players providing core banking solution are striving to reposition themselves as technology platform firms with a banking license. HCLTech is investing in FinTechs, APIs, application modernization, and cognitive computing to facilitate this transition.
Our Cloud Services ensures that banks evolve in line with disruptions in the ecosystem and rapidly changing customer dynamics. We enable organizations to become future-proof by fostering strategic partnerships.
HCLTech believes in a collaborative approach and delivers co-innovation lab offerings to banking sector clients. Our Fintech and Co-innovation lab in London has 150 professionals working with emergent technologies for applied innovation.