Skip to main content Skip to main navigation Skip to search Skip to footer

Enabling quick response towards regulatory requirements for a Fortune 50 Universal Bank

Enabling quick response towards regulatory requirements for a Fortune 50 Universal Bank

Business Need

The Compliance application portfolio plays an important role in defining, implementing and managing the regulatory requirements, legal mandates and trading registration requirements of the clients’ sell side business. The portfolio is instrumental in providing functions such as KYC, AML checks, surveillance, legal & registration requirements and regulatory reporting. Keeping pace with frequent regulatory changes was one of the key objectives of client business.

Challenges and Requirements

The existing application portfolio consists of disparate systems that are maintained and operated in silos. The following are the key challenges faced by the client:

  • The application portfolio consist of over 45 applications across diverse technologies ranging from Mainframe, UNIX, SQL, Oracle, Sybase, Java, Brio, Informatica, Documentum, Weblogic and MANTAS
  • There was lack of a unified view of the entire functional and technical landscape of the CLRS systems
  • The continuously changing regulatory environment demands quick assessment of the impact and faster response time

The client was looking at a strategic vendor that can:

  • Manage the complex skill set requirements of the portfolio
  • Respond quickly to the regulatory changes
  • Help free-up client bandwidth for strategic initiatives
  • Aid the client in decommissioning legacy systems
  • Enable easy integration of new functionalities into the systems with low turnaround time
  • Bring down the total cost of ownership for the complete application portfolio

HCL Solution

HCL brought about a quick knowledge transfer of the portfolio within four weeks by involving client SMEs in the transition. This concerted team effort from the various development teams by a round-the-clock approach, has helped the team in delivering to the business needs of client. HCL has been providing design solutions, maintenance, testing and support for the compliance application portfolio of client.

Business Benefits

  • Faster time to market with respect to new developments and meeting regulatory requirements
  • Significant cost savings through off-shoring of activities
  • Leveraging time difference between US and India resulting in continuous development effort
  • On Schedule deliverables helping the business to adhere to the dates set by the regulatory requirements/ agencies

DOWNLOAD THE SUCCESS STORY

Contact Us
MAX CHARACTERS: 10,000

We will treat any information you submit with us as confidential. Please read our privacy statement for additional information.

We will treat any information you submit with us as confidential. Please read our privacy statement for additional information.