Since the 2007-2008 financial crisis, financial institutions have been faced with unprecedented challenges and opportunities driven by the changing needs of both regulators and internal stakeholders. With the resulting mergers and acquisitions, companies are now left to face parallel and fragmented systems leading to high operational costs and inefficiencies.
On the other side, customers have become digitally connected leading to increased buying power and expectations. With the introduction of new digital channels, customers now have access to more relevant information and are demanding more highly personalized products and services.
To respond to the changing marketplace, companies are shifting their strategies and focusing on the following key areas:
- Regulatory Compliance
- Cost Reduction
- Application Modernisation
- Flexibility and Agility
- Customer Experience
- Customer Insight
These market drivers are leading banks to focus on the following initiatives:
Bank Front Office: Through the use of analytics, companies can leverage customer insights and segment the market in order to personalize their offerings. Through a customer-centric approach, companies can provide a seamless customer experience across all touch points and channels.
Bank Middle Office: To respond to the channel and data requirements of the back office, companies must increase their flexibility and reduce costs through application modernization. HCL can help by providing “industrialized” core solutions and working with you to determine if migrating to the cloud is right for your business.
Bank Back Office: Through the integration of finance and risk reporting, companies can rapidly aggregate and process large volumes of data from disparate sources. HCL can help to simplify your current infrastructure allowing you to respond to regulatory compliance standards and reduce operational costs.
Why HCL is the Right Partner for your Business
HCL’s Financial Services consultants help clients by delivering solutions that transform, innovate and lower costs with shared services.
- In-depth experience in the SAP market
- Domain experts with specialized expertise
- Business transformation capabilities leveraging a benefits-led approach
- Flexible local, onsite, and offshore delivery tailored to meet your unique business requirements
- Fully integrated service offerings
SAP, CSC and HCL Partnership in Banking
We have recently established an alliance with CSC banking, strengthening our position within the Transactional Banking and Analytical Banking space. CSC and SAP have recently joined forces to accelerate the transformation agenda in the global banking industry, leveraging our shared partnership with SAP. In particular, HCL and CSC are both seeing strong demand for solutions and infrastructure that provide finance organizations with greater consistency, transparency, and access to information across their financial accounting, management accounting, regulatory reporting, and risk management functions.
Transactional Banking and CRM Transformation
We help to architect the strategic CRM platform for large-scale organisations. Our service offerings include integration, legacy application changes, testing, environment management and more.
We help to transform operational and global reporting by reformulating finance and risk data models, standardizing data and ensuring efficient and timely modes of delivery.
We have architected and delivered flexible solutions to provide some of the largest Banks in Europe a simplified route to ensure compliance with regulatory reporting.
We have helped clients to re-engineer operational, commercial, and organizational change resulting in reduced costs and higher quality services.
We help to address key organisational issues such as organization design, capability building, cultural change, and talent management. We have helped to empower thousands of employees through the deployment of e-learning and self-service functions.
Our Success Speaks for Itself
Join us at SAPPHIRE in Orlando, meet our industry experts, and put our experience and insight to work for you.