Reliable multicast from end-to-end solutions to active solutions
HCL in · Head of Solutions Delivery, Business Technology Solutions & Services, Leading Australian...
Transcript of HCL in · Head of Solutions Delivery, Business Technology Solutions & Services, Leading Australian...
Keeping pace with transformation
HCL inFinancial ServicesHello, I’m from HCL!. We work behind the scenes, helping our customers to shift paradigms and start revolutions. We use
digital engineering to build superhuman capabilities. We make sure that the rate of progress far exceeds the price. And right now, 60,000 of us bright sparks are busy developing solutions for 500 customers in 26 countries across the world. How can I help you?
www.hcltech.com
• Deep structural change in the FS industry post the economic downturn
• Focus areas: risk management, regulation, globalization & M&A, and technology/capacity issues
• Market challenges expected to continue, exerting downward pressure on revenues
HCL – Here to help• Over 10 years experience
• 100+ global customers
• End-to-end IT services & solutions - ADM, ASM, Infrastructure Management and BPO
• Continuous investments to provide innovative solutions for competitive differentiation – Asset Monetization, MergeIT, Utility Services
Insurance
• Cross-border revenue and operating models
• Business Predictability
• Product innovation
Capital Markets
• Future organizational configurations
• Reporting
• Risk management
Banking
• Industry Consolidation
• Revenue Growth
• Profitability
INDUSTRY TRENDS AND CHALLENGES
Overall Trends
• Focus on preserving capital and competing for deposits
• Credit liquidity - a pervasive issue across all geographies
• Institutionswithcapitalandproficiencyinintegrationstandtomakeboldgains
• Shockwavesfromthefinancialupheavalpromptinginstitutionstoadoptaglobalapproach
• Chasminqualityofassetportfoliosandfinancialperformanceisexacerbatingthepolarizationbetween pacesetting and lagging institutions
• Ailing institutions are bracing for survival but healthier players embracing new business models and investing in technology innovation to gain market position for growth
Today’s Imperatives
1. Corporate Governance
2. Cost Reduction
3. Rationalization and M&A
4. Government Control
5. Shrinking Banking Capital
6.OperationalEfficiencies
Key Challenges
• Experience – Over 10 years
• Customers – 100+ globally
• Team – 9000+ technology & domain consultants
• Micro-verticals – Retail & Corporate Banking, Insurance, Capital Markets and specialty skills across 24 sub-verticals
• Services – Enterprise Transformation, Product Engineering & Development, System Integration IT Services, Management & Operations, BPO, Infrastructure Services
• Capabilities–Development,Enhancement&MaintenanceofApplicationsacrossFrontOffice, MiddleOfficeandBackOffice
• FS Partnerships – Chordiant, eBaoTech, Guidewire, Misys, OMX, Prima Solutions, Sage, SAP, SFS, SimCorp Dimension
• CoEs and a Dedicated Insurance Solutions Development Center in India with 150+ major insurance assignments successfully delivered across Life Insurance, P&C Insurance and Reinsurance
| 60000 people | 26 countries
• Domain competencies across retail & corporate banking, capital markets, and insurance
• Long-term customer relationships / strategic alliances with leading global FS companies
• Value-based multi services approach in managing risk, complying with regulations, conceptualizing and enhancing product features, and managing transformational challenges
• Providing production support for more than 100 mission critical clearing & settlements applications, handling transactions worth around US $100 billion a day
EXPERTISE ACROSS THE FINANCIAL SERVICES ECOSYSTEM
ASSeTTM A robust transition framework for the migration of more than 200 processes in Financial Services
BestXekTM A low latency execution venue selection solution that allows institutions to select the best venue for trade execution at high speed, using built-in and extendible algorithms
CapitalStreamTM AnintegratedsoftwareplatformenablingcommercialbanksandfinancecompaniestoimplementStraightThroughProcessing (STP) across lending and leasing portfolios
Collateral Management System System to streamline the follow-up process for collectors and reduce cycle time
COTS Evaluation Framework Atooltoevaluateandqualifyoff-the-shelfproductsbasedonspecificcustomerrequirements
InvesITTM A global research content management platform providing a comprehensive solution to the research report productionprocess-fromauthoring,usingbuilt-intemplatestofinaldistribution
Loan Origination & Tracking System (LOTS)
An Enterprise Lending Suite for Retail Loan Origination and Proposal Tracking
MiFID A diagnostic tool that enables gap assessment of various areas and provides a diagnostic report for MiFID compliance
Penstock Product Engineering Group
A transformational program designed to launch new-age technology products to solve operational and transactional dataproblemsofglobalfinancialinstitutions
XFITTM An automated agent- based test harness for SOA and BPM testing; supports a customizable testing process and automation of testing
IPs/ Solution Accelerators
Wealth/ InvestmentManagement
Regulatory Compliance
Payments
Financial ProductCompanies
Risk
Treasury & Cash
Sales
Claims Management
Actuarial
Underwriting
Policy Administration
InfrastructureManagementServices
Operations Services
Software Services
Core Banking
Multi Channel
Lending & Mortgages
Trade Finance
Cards
Banking Services
Trust Companies
Depositories & Custodians
Settlements & ClearingHouses
Exchanges
Investment Banks
Trading & Retail Brokerage Houses
Capital Market Services
FINANCIAL SERVICES GLOBAL PRESENCE
HCL Technologies: $5bn
• One of the largest and fastest growing verticals in HCL; also the fastest growing in the industry
• Over 9000 HCL ‘transformers’ transforming technology into competitive advantage for some of the largest global financialservicesorganizations
• Horizontalservices-EnterpriseTransformationServices(ETS),IndependentVerification&Validation(IV&V)servicesand Integrated Operations Management Center (IOMC)
• Technology CoEs adding value to offerings
SUCCESS STORIES
Our Bank won many of the most important IFR awards including Bond House of the year, Interest Rate House of the year and the overall Derivatives House - you played a key part in this achievement.
Global Head, Rates, Leading Global Investment Bank
We chose HCL as a strategic partner to help us manage our existing applications and implement new technologies. Over the last 3 years, we have come to rely upon HCL. HCL has been responsive to the needs of the IT group and our customers and have been committed to delivering high quality services with the level of flexibility required by our business.
Executive VP and CIO, Leading American Insurer
HCL worked with us to deliver a new end-to-end lending platform - an application deemed to be extremely critical for our Bank. HCL’s role was critical as they participated in all stages of the project lifecycle including requirement analysis, design, development, testing & implementation support. They have continued in a support role beyond the end of the implementation and continue working with us on further enhancements to the system.
Head of Solutions Delivery, Business Technology Solutions & Services, Leading Australian Bank
TestimonialsWeb-based, end-to-end Loan Origination System
HCL worked with a leading bank in New Zealand to develop a loan origination solution spanning all the bank’s delivery channels. This SLA driven, STP, end-to-end solution is seamlessly integrated with the bank’s systems and external agencies like the Credit Bureau. Results: Process time has been reduced by 50% and cost by 30%, through improved backofficeefficiency.
Global Research Content Management System
HCL automated the research content management system across the globe for a global investment bank. The web-based application with multi-language interfaces [English, GermanandJapanese], tracksandcontrolsallworkflowstages and allows regulation analysts to certify and pre-populate relevant disclosures. Results: Reduced time-to-market due to an automated global system serving 1300 analysts [scalable to 2500+] with over 200 documents authored and distributed every day, covering 13 sectors, 20 disciplines and 130000 companies.
Transforming Claims Operations
A leading Workers Compensation Provider in the US partnered with HCL for a modern, web-based claims processing solution to replace its legacy application that was not able to keep pace with business growth. Results: Over 400,000 claims were migrated and Temporary Total Disability [TTD] duration [time an employee is on total disability support] reduced from 43.5 weeks to 29.6 weeks. Usersandadjustersalsohaveincreasedflexibilitytocreateand modify rules when business conditions change.
Intelligent Voice Response (IVR) System Implementation
We seamlessly integrated products from two vendors who were involved in developing the original speech application for a Fortune 500 financial services company, andimplemented over 124 design changes while reengineering the generated code base to improve reliability and maintainability. Results: An increase in call volume from 2 million to 6.5 million over the IVR channel over two years, and considerable reduction in call waiting time, which led to higher customer satisfaction. The customer derived tremendous annual cost savings as a result of the shift from a service representative based call center to speech self-service, resulting in improved ROI.
Case Studies
FINANCIAL SERVICES PRACTICE SNAPSHOT
Industry Focus
Retail & Corporate Banking, Insurance, Capital Markets
Domain Expertise
• 9000+ domain & technology consultants across Retail & Corporate Banking, Capital Markets, and Insurance
• Micro-vertical delivery structure -specialty skills across 24 micro-verticals
• 1st Indian service provider to migrate Capital Markets processes offshore
• Capabilities in development, enhancement & maintenance of applicationsacrossfrontoffice,middleofficeandbackoffice
• Managing large multi-service engagements - decade-long association with one of the world’s largest investment banks [handling more than 120 projects, 200 processes, and 850 applications]
• LOMA excellence award in Insurance for 6 consecutive years
• Six-sigma across various processes - yellow, green and black belt trained professionals; SAS 70 initiatives across processes for operations
• Top FS services company in Germany, Singapore and the Nordics
Centers of Excellence - CoE
• Misys• Chordiant• SAP• Dedicated
Insurance Solutions Development Center in India – 150+ major insurance assignments successfully delivered across Life Insurance, P&C Insurance and Reinsurance
Domain led innovation through Partnerships & Industry Alliances
• Chordiant
• eBaoTech
• Guidewire
• Misys
• OMX
• Prima Solutions
• Sage
• SAP
• SFS
• SimCorp Dimension
Unique Business Models
• Risk-Reward Sharing
• Output Based Pricing
• JVs
Comprehensive services across the ecosystem
• Enterprise Transformation
• Product Engineering & Development
• System Integration
• IT Services, Management & Operations
• BPO
• Infrastructure Services
100+ global customers
• 8 of the top 10 Australian Banks
• 1 of the top 2 Investment Managers
• 1 of the top 3 Global Investment Banks
• No. 1 Retail Bank in UK
• 3 of the top 10 Insurance Companies