Retail and Corporate Banking
The banking landscape is transforming at a rapid pace. Digital disruptions driven by intelligent automation and open banking are forcing banks to reimagine their operating models. Today, banking customers demand a superior customer experience and hyper-personalized products and services. This has created an urgency for banks to become on-demand ecosystem providers, offering embedded products and services such as Buy Now Pay Later (BNPL) and digital assets. They must remain relevant and avoid disintermediation, as competitors—including fintech, big tech, and retailers—encroach into their territory.
Most next-gen solutions are AI-driven and will increasingly encapsulate blockchain and cryptocurrencies. They will support intelligent, proactive financial planning and lifestyle choices, including transparency around the environmental impacts of those choices. The Metaverse looms large on the horizon—what will money look like and what services will be needed here? In parallel, an increased focus on regulation and ESG will put additional pressure on banks.
Banks need to be ready to navigate this challenging business scenario by smartly using their technology assets and investments, as well as opening themselves for collaboration. For embedded and contextual banking, banks are now increasingly partnering with fintech and non-financial firms to bridge gaps within their customer offerings and shared systems landscape. HCL Technologies has always been at the forefront of solving real business problems through best-in-class services and technology offerings. Our engineering DNA and philosophy of ‘ideapreneurship’ ensure continuous collaboration and support for our clients at every step of their transformation journey. We believe in a co- innovation approach to help banks and financial services firms become future-proof and evolve as leaders in their respective business areas.
HCL’s co-innovation labs are a global network of acceleration solutions for organizations adopting emerging technology to solve business problems. We engage with leading financial institutions and cutting-edge fintech firms alike, and offer industry-leading solutions for digital banking. We specialize in financial services that are uniquely complex; the type that warrant a high level of specialist knowledge to extract the best value out of technology and align it to business. Our expertise enables us to take a strong customer-centric view and blend that with our domain knowledge to build great alignment based on real evidence
HCL NOVUS Bank
HCL NOVUS Bank
NOVUS Bank is built with a composable architecture using cloud-native technologies. It allows banks to evaluate and test innovative solutions in a sandbox environment for rapid evaluation, prototyping, and deployment. NOVUS Bank addresses initiatives around digital/core banking transformation, including data, architecture, and automation. This allows our partners to deliver significantly differentiated and superior customer experience, typified by seamless omnichannel journeys, hyper-personalized and contextual marketing, optimal sales and service, and end-to-end lifestyle services from the bank
While ESG brings disclosure obligations related to sustainability practices, it also creates opportunities. Today, innovation driven by sustainability is driving the development of new products and services, such as paperless transactions and green mortgages. These future-focused offerings help organizations expand into new markets and customer bases, because they resonate with consumers who embrace the idea of sustainable, ethical finance and choose FIs that align with their values. HCL offers services and tools for data collection, aggregation, reporting and contextualization, impact assessment, business architecture, and process assessment. HCL also boasts of Innovation Labs to research and develop sustainability-focused products and processes, green IT solutions and frameworks to enable sustainable operations, and managed services to operationalize ESG-centric capabilities.
HCL NOVUS Payments
HCL NOVUS Payments
HCL NOVUS Payments is a modularized framework that provides a complete payment solution package to help accelerate the journey in implementing new payment models, supporting regulatory compliance, and accelerating cloud-ready platform-based modernization. With greatly reduced complexity in the payment landscape—one system, one technology, and the use of standards—NOVUS Payments uses a modernized approach to build the payment management system of the future.
HCL NOVUS API Hub
HCL NOVUS API Hub
HCL API Hub platform offers a single point of entry to multibank standardized APIs to financial institutions and large corporates. The platform helps banks offer multi-bank cash and liquidity, and other value-added solutions to their corporate and SME customers. The HCL API Hub empowers banks with a single established API to gain access to the customer data held across multiple banks and ERP systems in a fast and secure manner. It aggregates data across diverse APIs exposed by multiple banks.
Power banking is a custom solution designed by banking experts based on years of experience within the industry. It accelerates CRM implementations by leveraging the Microsoft technology stack: Dynamics 365, LinkedIn, Azure, Power Platform, AI, machine learning, Microsoft One Common Data Layer, and the innovative Microsoft Cloud Platform. It enables seamless onboarding, provides actionable insights, and improves productivity across multiple business lines.
HCL EXACTO is a domain-centric machine learning solution based on next-gen autonomous intelligence technologies to automatically extract information from a variety of sources. The process is divided into three stages.
Extract- Deep neural network-based extraction of language-based objects. Algorithms for prediction conflicts resolution for enhanced accuracy.
Interpret- Natural Language Processing to reason over the inputs. Supervised and unsupervised domain ontology to handle missing, unseen, and ill-formed data.
Process- Seamless integration of extracted information for downstream consumption using RPA, workflow, or APIs.
Unica is a cloud-native, fully integrated enterprise marketing automation platform that provides precision marketing at scale. Banking organizations can orchestrate personalized Omnichannel engagements, track progress, and recalibrate marketing activities in real-time.
HCL’s ASM 2.0 framework enables experience-centric and business-aligned outcomes via automated, intelligent, and contextualized application support operations. It comprises the right fit operating model in alignment with the business context and a DevSecOps-based team structure to drive best-in-class engineering culture. It also provides a platform that drives observability and orchestration roadmap with tools/solutions that abstract underlying complexity to offer preventive, predictive, and self-heal capabilities, and a new collaboration-based way of working to ensure better knowledge sharing.
With this solution, banks can avail of a lending platform that helps to standardize technology across products and create reusable technology components/capabilities to be leveraged as a common service across geographies. This reduces operational costs by eliminating the need to maintain multiple applications that perform similar functions across advisory products. Lending can be embedded into third-party journeys to improve customer experience and ensure that offerings are made at the point of greatest relevance.
Embedded Banking is the integration of financial services into other third-party journeys to offer a seamless experience to customers and enhance their overall experience. Banks and financial institutions must tap this opportunity and embark on the embedded finance journey to stay relevant. HCL's key offerings under embedded banking are ‘buy now pay later’ (BNPL), PoS lending, anytime anywhere banking, and short-term finance. This enables banks to reduce the cost-to-serve and customer acquisition costs, expand distribution channels, and become ecosystem providers.
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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.