IDC and HCL Financial Services Executive Dinner Roundtable | HCL Technologies

Overview

Over the last two years, PSD2 has been the key change catalyst for the European Financial Services sector. Driven by regulation, naturally the key focus was on compliance and security in an open ecosystem first. An IDC survey from summer 2018 showed that 37% of European banks said that they were primarily focussing on compliance on their journey towards an open ecosystem. Another 22% said their focus is primarily to create closed ecosystem, where they are in control of who gets access to their data.  

Since then the focus has been shifting away from compliance and towards exploring new opportunities in an open ecosystem. Currently we see three core focus areas for the Industry:

  1. Data commercialization is becoming a priority for many leading banks, but generally this area is still in its infancy and is often dismissed as "selling customer data". However, value generation can take many different forms and shapes and it is important to discuss this more area more openly and start to think about strategic partnerships to drive value.
  2. Digital architectures: The shift to an open data ecosystem requires fundamental decisions on reorganizing and optimizing data architectures and data platforms. SOA2.0 architectures that build on APIs and microservices to connect new applications with legacy systems and the core are quickly getting complex, but enable a great degree of flexibility, efficiency and innovation. Innovation acceleration from outside the organization is a key driver as financial institutions increasingly source for new ideas and experiences from their partners and deliver them through the cloud. Lastly this also increases the risk of fragmentation, due to the lack of standards for data exchange and APIs. Connectivity will essentially rely on your ability to quickly integrate services from ecosystem utilities.
  3. Next Generation Security: More data exchange and more openness increase the risk of security breaches and data loss. What's needed is not just better monitoring and control mechanisms for data exchange, but potentially a rethinking of the security approach to keep pace with cybercrime.

The analyst house IDC invites you to an exclusive event free of charge:

  • Lively exchange between IT experts and business decision-makers on profitable strategies for digital transformation during a joint dinner.
  • Discussions moderated by experienced IDC market analysts
  • Interviews with experts and users 

The Agenda

 6.00 pm

 Welcome cocktail & networking

 6.30 pm

 Welcome address from IDC & HCL Technologies

 6.50 pm

 Dinner Debate moderated by IDC

 Starter: How are leading organizations in Europe and around the world driving their digital ecosystem strategies? How should we start to think about data   commercialization and what are the success factors and pitfalls to avoid?

 Main course: What are the are the architectural considerations to prepare your organization for the world of digital ecosystems? What are the opportunities around scalability, speed, and innovation driven by cloud-enabled applications? How to bring order and speed into an increasingly complex system  architecture – leveraging internal and external capabilities?

 Dessert: Openness and security? How can we ensure security in a world where data is flowing faster, but the consumer has more control and less attention and constraint? Are APIs as secure as everyone claims they are? What should a next generation security approach be built on?

 9.30 pm

 Wrap up and close

 10.00 pm

 End of event

Session

 Bhavdeep
Thomas Zink, Associate Research Director for IDC Financial Insights EMEA
Thomas Zink is an Associate Research Director for IDC Financial Insights and leads IDC’s European financial services research. Thomas core research coverage includes digital transformation in banking, retail payments, global transaction banking and wealth management. His key focus for the next year is on Open Banking and the emergence of an interconnected, collaborative, and accelerated ecosystem. This spans dealing with new regulations such as PSD2, readying legacy infrastructure and systems for the open API challenge, identifying and managing third party risks, new operating models such as banking as a platform, the super backoffice, etc. Another key focus will be around the rise of machine intelligence and its impact on workflow automation, contact centre and web chat automation, robo advisory, and business intelligence.
Bhavdeep
HCL Speaker- Mani Nagasundaram, Senior Vice President- Financial Services, HCL
Mani Nagasundaram has held a number of positions over the years at HCL. Currently, he is a Senior Vice President within the financial services practice and is responsible for building and growing the application development/application enhancement service line. As a part of his remit, he is focused on building propositions and capabilities around legacy modernization, migration of applications to the cloud, modern application development and digital applications across the financial services portfolio. He is also responsible for driving the innovation agenda across FS through the creation of co-innovation labs with key customers.