HCL in Financial Services - Mynewsdesk
Transcript of HCL in Financial Services - Mynewsdesk
Understanding tHe Industry
HCL – Here to help• Over11yearsexperienceinFinancialServices
• 100+globalcustomers
• End-to-endITservicesandsolutions-ADM,ASM,InfrastructureManagementandOperations
• Continuousinvestmentstoprovideinnovativesolutionsforcompetitivedifferentiation–H-Suite, AssetMonetization,MergeIT,UtilityServices
Insurance
• Reorganizationoffrontoffice
• Predictiveanalyticsmodelforbetterworkflowmanagement
• Improveddistributionmechanism
Capital Markets
• Regulationandcompliance
• Riskmanagement
• Increaseinvolumeofelectronictrading
Banking
• Datamanagementandpayments
• Integrationandbetterrelationshipmanagement
• Upgradeoflegacysystems
Key Challenges
• Domaincompetenciesacrossretail&corporatebanking,capitalmarkets,andinsurance
• Long-termcustomerrelationships/strategicallianceswithleadingglobalFScompanies
• Value-basedmultiservicesapproachinmanagingrisk,complyingwithregulations,conceptualizingandenhancingproductfeatures,andmanagingtransformationalchallenges
• Providingproductionsupportformorethan100missioncriticalclearing&settlementsapplications,handlingtransactionswortharoundUS$100billionaday
FinanCiaL serviCes VaLue+ soLutIons
CollateralManagementSystem Streamlinesthefollow-upprocessforcollectors,andreducescycletime
CapitalStreamTM AnintegratedsoftwareplatformenablingcommercialbanksandfinancecompaniestoimplementStraightThroughProcessing(STP)acrosslendingandleasingportfolios
InvesITTM Anend-to-end,webbased,automatedresearchmanagementsolutiondesignedforbusinessesengagedinequities,fixedincomeandderivativesrelatedresearch
HCLLoanOriginationSystem(HCLLOS)
Anenterprise-lendingsuiteintheretailloanoriginationandproposaltrackingspace;highlyconfigurable;supportsend-to-endretailprospecting,originationrequirementsandenableslenderstotailororiginationprocessesfrominitialprospectingtodisbursalreadiness;supportsallmajorretaillendingproducts-mortgage,auto,personal,consumer,educationalandotherloans
HCLPricing&InvoicingforCustomerCentricEnterprises(HCLPRICE)
Enablesfinancialinstitutionsdesignandimplementinnovativepricingschemes;supportsahostoffeeoptionsbasedonauserfriendlyrulebuilder,configuresdifferentialfeesacrosstransactiontypes,channels,processingsystemsandcustomergroups,andmeetscomplexinvoicingrequirementsofmulti-tiered,multi-geoclientorganizations
HCLIslamicFinanceOriginationSystem(HCLFOS)
Anenterprisefinancesuiteintheretailfinanceoriginationandproposaltrackingspace;supportsmajorIslamicretailfinanceproductssuchasresale-based(Murabaha,Tawarruq)andlease-based(Ijarah,Istisna);supportsmanyassettypesrangingfromrealestatetoautomobiles,andassetssuchasfinancialsecurities(stocks,bonds,andothers)
HCLPaymentsAccelerator(Asuiteofacceleratorservices)
Asuiteofpaymentsprocessingacceleratorservicesthatassistsbanksinunifyingtheirpaymentofferingsacrossmultiplechannelsandcustomerbases;enablesbanksacceleratedevelopmentofaunifiedPaymentsHubandaddressesspecificpainpointsinpaymentsprocessing
HCLPaymentGateway Aleadingpaymentgatewaysolutionthatenablesbanksoffermerchantandotherinstitutionalcustomersmultichannelelectronicpayments
TradeXekSuite
TradeXekSuiteconsistsofthefollowingSolutions/IP’s:
a. TradeXekXekData:HCL’sBusinessInformationManagementsolutionforCapitalMarkets,offersacrossasset,crosstrading,crossreferencingplatformthataddressestheneedsofdifferentmarketpracticesandusergroupsforarangeofassetclasses.
b. TradeXekPositionEngine:Itprovidesanabilitytocreate,maintain,andanalyzeconsolidatedreal-time/batchpositioninformationfordifferentusersandfunctionalgroupsinteractingwithclientsandmarkets.
c. TradeXekXekRisk:Anenterprisewideportfolioperformanceandriskmanagementplatformcombiningcuttingedgetechnologytoolswithsophisticatedfunctionalcomponentstocreateaplatformwhichcandriveawiderangeofriskandperformanceapplications.
d. TradeXekBestExecution:Alowlatencyexecutionvenueselectionsolutionthatallowsinstitutionstoselectthebestvenuefortradeexecutionathighspeed,usingbuilt-inandextendiblealgorithms.
IPs/ solution accelerators
• Riskfrontierwillbeconservative
• Increaseininvestmentsincustomerself-servicechannelslikemobilepayments
• Emergenceofnewertechnologieslikecloudcomputing
today’s Imperatives
• Managingtechnologyasastrategicdifferentiator
• Focusonprioritizationofcapitalinvestments
• Rebalancingofglobaleconomicpowerandinfluence
• Replacementorupgradeoflegacysystems
• Realigningthebusinessthroughacquisitionordivestiture
• Focusedexperimentationwithemergingtechnologies
overall trends
• Narrowingmarginsandregulatorylimitsonrevenuewillimpactbalancesheets
• Increasedgovernmentandcentralbankinfluence
• Technologyadvanceshaveloweredbarriersofentry
• Emergingtechnologysuchaspaymenthubs,andnewtrendssuchascloudcomputingtobringnewcapabilitiesonlinequicklywithnoup-frontcapitalexpenditure
• Financialinstitutionstoalignproductstoregulatory,marketandtechnologypressures
• Investmentsintechnologyfor2010willbeinpervasiveanalyticsandimproveddatamanagement
• OneofthelargestverticalsinHCL
• 13000+HCL‘transformers’transformingtechnologyintocompetitiveadvantageforsomeofthelargestglobalfinancialservicesorganizations
• Horizontalservices-EnterpriseTransformationServices(ETS),IndependentVerification&Validation(IV&V)servicesandIntegratedOperationsManagementCenter(IOMC)
• TechnologyCoEsaddingvaluetoofferings
“Partnering with HCL, we can leverage our combined capabilities and resources to build a leading solutions company, while reducing our technology services cost.”
CIo, a Large Global Investment Bank
“…i am very impressed by the services being delivered by HCL. HCL has been an invaluable partner in our march towards providing our customers the best services. i look forward to the continued development and expansion of this partnership.”
executive VP and CIo, a Leading american Insurer
“We interacted with HCL as a preferred outsourcing partner for our large multi-business processing project that we undertook across the bank. i am pleased with the effort and work done by HCL in application development and technology support transition required to create our global shared service centers.”
technology Program director, a Leading Bank in the emerging Markets
Testimonials
transforming online Payments Platform
HCL provided an end-to-end solution for a leading bank intheemergingmarketsbydesigning,developingandprovidingproduction support for their online platform that supportsmultiplepaymenttypesincludingTelegraphic&BookTransfers,RealTimeGrossSettlement,DirectCredit(ACH)andCheques.Taking into account the intricacies of automatic feeding ofSWIFT transactions and the gamut of payments, collectionsand custody transactions, HCL designed this robust solutionon a risk-sharing model through offshore-centric managedservices.Results: Thesolution supportsusers in42countrieswhere transactions are originated and routed through theclient’s gateway and network with an average response timeof 2 seconds for 10000 concurrent users; a single-customerviewacrosscash,paymentsandcollection transactionswhileprovidingunifiedmessagingandcustomizablereporttemplates.
Global research Content Management system
HCL automated the research content management systemacrosstheglobeforaglobalinvestmentbank.Theweb-basedapplication with multi-language interfaces [English, Germanand Japanese], tracks and controls all workflow stages andallows regulationanalysts to certify andpre-populate relevantdisclosures. Results: Reduced time-to-market due to anautomated global system serving 1300 analysts [scalable to2500+]withover200documentsauthoredanddistributedeveryday,covering13sectors,20disciplinesand130000companies.
transforming closed book administration for a leading wholesale financial services firm
HCL enabled a leading wholesale financial services firm inmovingfromafixedtoavariablecostmodel,whilemaintainingsystems that are compliant with regulatory requirements fortheir closed book insurance policy administration. HCL IBSoverhauled all of the clients existingprocesses andmanagedthemigrationofthefirst100,000policiestoitssuiteofsystemsand helped in migration of the remaining services to a newplatform, using a proven solution, within the first year of thepartnership.Results: 95%ofLifepolicyandpersonalpensionpolicyclaimsarecompletedwithinfivedays;95%ofLifeandpersonal pension policy enquiries are completed within threedays;95%ofnewbusinessenquiriesarecompletedwithinfivedays;abandonmentratesfortelephonecallsarenowlessthan5%and improveonamonthbymonthbasis;costs forpolicyadministrationhavebeensignificantlyreducedcreatingsavingsfor theclient; enabled theclient toachieve savings in excessof 5 million GBP by decommissioning a mainframe legacyapplicationsystem.
tech-led regulatory Compliance for faster GtM
AleadingEuropeaninsurerpartneredwithHCLforefficientandflexiblebackofficeapplicationmaintenance toenablespeedyrealization of business requirements, regulatory changes andnewproductintroductions,architecturalsolutionsforapplicationintegration, technology partnership to help embrace SOAimplementations in front andmiddle office functionalities andfor introducing products through theweb.Results: The clientwasthefirstcompanytobecompliantwiththenewNetherlandsPensionLawandachievedStraightThroughProcessingacrossallGeneralInsuranceProducts;75%reductioninincidentsinthePensionDivisionand85%reductionsintheGeneralInsuranceDivision.A“ProjectPortal”displaysallrelevantmetrics,ensuring100%transparencyacrossprojectexecution.
CaseStudiesPeoPLe In aCtIon tHe FinanCiaL serviCes team
Industry Focus
Retail&CorporateBanking,Insurance,CapitalMarkets
domain expertise
• 13000+domain&technologyconsultantsacrossRetail&CorporateBanking,CapitalMarkets,andInsurance
• Micro-verticaldeliverystructure-specialtyskillsacross24micro-verticals
• 1stIndianserviceprovidertomigrateCapitalMarketsprocessesoffshore
• Capabilitiesindevelopment,enhancement&maintenanceofapplicationsacrossfrontoffice,middleofficeandbackoffice
• Managinglargemulti-serviceengagements-decade-longassociationwithoneoftheworld’slargestinvestmentbanks[handlingmorethan120projects,200processes,and850applications]
• LOMAexcellenceawardinInsurancefor6consecutiveyears
• Six-sigmaacrossvariousprocesses-yellow,greenandblackbelttrainedprofessionals;SAS70initiativesacrossprocessesforoperations
• TopFSservicescompanyinGermany,SingaporeandtheNordics
Centers of excellence - Coe
• Clear2Pay• Misys• Sage• Dedicated
InsuranceSolutionsDevelopmentCenterinIndia–150+majorinsuranceassignmentssuccessfullydeliveredacrossLifeInsurance,P&CInsuranceandReinsurance
domain led innovation through Partnerships & Industry alliances
• Clear2Pay
• Callatay&Wouters
• Cinnober
• eBaoTech
• Guidewire
• Misys
• Norkom
• Sage
• SAP
• SFS
• SAS
unique Business Models
• OutputBasedPricing
• GainShareModel
• OnsiteRationalization
• Task/ActivityBasedPricing
• Utility&TransactionBasedPricing
• Risk–RewardSharing
• JVs
Comprehensive services across the ecosystem
• EnterpriseTransformation
• ProductEngineering&Development
• SystemIntegration
• ITServices,Management&Operations
• BPO
• InfrastructureServices
100+ global customers
• 8ofthetop10AustralianBanks
• 1ofthetop2InvestmentManagers
• 1ofthetop3GlobalInvestmentBanks
• No.1RetailBankinUK
• 3ofthetop10InsuranceCompanies
sUCCess storIes
HCL’s FinanCiaL serviCes team IMPaCtInG tHe WorLd
• experience–Over11years
• Customers–100+globally
• team–13000+technology&domainconsultants
• Micro-verticals–Retail&CorporateBanking,Insurance,CapitalMarketsandspecialtyskillsacross24sub-verticals
• services–EnterpriseTransformation,ProductEngineering&Development,SystemIntegrationITServices,Management&Operations,BPO,InfrastructureServices
• Capabilities–Development,Enhancement&MaintenanceofApplicationsacrossFrontOffice,MiddleOfficeandBackOffice
• Fs Partnerships–Clear2Pay,Callatay&Wouters,Cinnober,eBaoTech,Guidewire,Misys,Norkom,Sage,SAP,SFS,SAS
| 90000 people | 31 countriesHcl tecHnologies: $6.2bn
tHe WorLd is notiCing soMetHInG unIque aBout HCL
The‘EmployeesFirst’philosophyatHCL,thefirstsucharticulationintheITIndustry,isatthecoreofoureffortstoprovideouremployeeswithaworkenvironmentandculturethattheycantakepridein.
it is eMPLoyees FIrst
employees First.
Whenyouchannelizetheenergiesof90,000employeesandpouritintoafunnel,yougetapotentconcoctiongushingoutoftheotherendthatwillsendyourcompany’senginesracing.
WecallthistheEmployeesFirsteffect.
www.hcltech.com
HCL’sEmployeesFirstisanewandradicalmanagementphilosophywhichwillcatchonwiththeworldsoonerorlater
HonoredwiththeForresterGroundswellAward2011inthe‘Management–InnovativeSystems’categoryfor‘ValuePortal’–anemployeeideaexchangeplatformwhereemployeescollaborate,innovateandleadtheimplementationoftheirideastodelivervaluetoHCL’scustomers
DardenSchoolofBusinesshasdoneacasestudyontheimpactcreatedbyHCLthroughits“EmployeesFirstCustomersSecond”practice
HarvardBusinessSchoolteachesaboutHCLasacasestudyonbusinesstransformationhighlightingtheEmployeesFirstinitiative
OneofBritain’sTopEmployersforthe5thConsecutiveYear
HCL’sEmployeesFirstand‘democratization’ofmanagementconceptcould‘bringaboutacorporaterenaissance’
ExclusivereportonEFCSrecognizesthatthisphilosophyempowersHCL’sfrontlineemployeestomakedecisionsandtakeactionsforthebenefitofcustomers
Gartner
Rankedastheworld’sMostInnovativeCompanyforitsworkforcepractices
PublishedbyHarvardPress,employees First, Customers secondisadmiredbyglobalthoughtleaders-TomPeters,TonyHsieh,GaryHamel,JudyMcGrath,RamCharanandVictorK.Fung;Ranked
No.17ontheBestSellerlistin800-CEO-READ;Listedamongstthe‘BestBusinessBooksof2010’bytheLibraryJournalofAmerica;RankedNo.7onAmazonUK’slistingof‘BestBusinessBooksof2010’.
PublishesaCaseStudyrecognizingthebusinessvalueofHCL’sEmployeesFirst-“ForHCLcustomers,improvedengagementandemployeepassiontranslatesintogreaterflexibility,proactiveinnovation,andadesiretodotherightthingforthecustomer,regardlessofwhattherulesmightsay”,itsays.
WinstheAsianHumanCapitalAward2011forinnovativeandimpactfulpeoplepracticescenteredontheEmployeesFirst,CustomersSecondphilosophy
Forthefourthtimeinarow,WorldBlulistsHCLasoneoftheMostDemocraticWorkplacesintheWorld
AcknowledgesHCLTechnologiesastheworld’smostmodernmanagement
HCLisalsotheonlyAsiancompanywhoseCEOfeaturedonFortune’s‘DreamTeam’
HCLisintheElite“Thinkers50”List