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Retail and Corporate Banking
Digital disruptions are forcing banks to rethink operating models. Today, customer demand real-time interaction, service immediacy, and transparency. They want an experience at par with that of Uber or Amazon. Start-ups like TransferWise and Simple Tax have identified this need, providing greater convenience in conducting transactions. The implementation of regulatory directives like PSD2 will result in banks competing with everyone offering financial services and banking solutions.
With their dominance under threat, retail banking and corporate banking organizations are embarking on a trajectory for change.
Articulating next-gen retail banking solutions
Traditional players are striving to reposition themselves as technology platform firms with a banking license. HCL is investing in FinTechs, APIs, application modernization, and cognitive computing to facilitate this transition.
Our Mode 1-2-3 approach 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.
We have entered into a joint venture agreement with DXC Technology to specifically focus on application modernization, API related services, and product functionality enhancements. Our partnership with IBM Watson enables us to develop retail banking solutions in the automation and AI space and deliver cognitive capabilities to existing platforms. DRYiCE, an autonomics and orchestration framework, drives efficiency by automating both standard and non-standard tasks.
HCL believes in a collaborative approach and delivers co-innovation lab offerings to clients. Our co-innovation lab in London has 150 professionals working with emergent technologies for applied innovation.
Some of our key achievements in the banking domain are –
- Partner for distributed agile transformations at CBA
- Digital transformation in lending for IPF
- Cloud transformation for DNB
- ABP for CBA
The Everest Group PEAK Matrix report recognizes HCL’s commitment to deliver meaningful innovation to the banking sector by leveraging its engineering heritage.
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ECOSYSTEM OF PARTNERS
Our partnerships bring the relevant technology, industry and domain knowledge together, with tested products, presenting a complete solution for our customers. Working together with our partners, HCL augments and supports all solution and technology requirements, ensuring delivery of the best results.
HCL Global Digital Execution Report