Since 2003, regulation has been one of the primary drivers for change in the AML (Anti-Money Laundering) and the KYC operations landscape. While the first five years have focused heavily on identification/disclosure of the sources of funds and cash flow movement, the overall requirements evolved manifold in 2010-11. Banks and financial institutions have since invested heavily on the underlying technology to process KYC requirements efficiently. Although, over the last seven years; with increasing AML and sanctions compliance requirements, most banks and financial institutions [commonly referred to as Banks] have opted to invest more in a people-centric strategy. One of the…

Imagine this. You have a job. Now, you are quite skilled and adept with the work practices of the current industries and best practices. In this way, you give the job a great couple of years. You create cost savings for your employer and deliver great service. As time goes on, you start to gain trust of your employer and can now afford to relax without being truly exceptional. Sounds like fun, doesn’t it? We’d all love to be in that place and have an employer like that. Now swap yourself out with your IT and BPO outsourcing service provider.…

The world is moving fast, especially for insurers. Large multinational corporations, are further adding to the fast pace and are taken away from by incessant mergers and acquisitions. Insurtech has grown rapidly and is posing to be a new threat to traditional insurance business. With the explosion in digital data and democratization of immense computing power, disruption is fast becoming the norm. Most insurers have been around for a long time through. They have thrived in intense competition and are at home in an ever changing industry landscape. There have been massive investments into technology; be it blockchain, cloud, enterprise-wide…

Over the last decade, increasing market demands has compelled companies to adopt emerging technologies and evolve market strategies that helped them stay ahead of competition. Any company’s distinctive go-to-market strategy, is in its passion for taking customer satisfaction one notch higher, the company’s foresight in exploring and identifying future ready tools and technologies and its willingness to invest time and resources in developing skills, to this strategy. Hexaware has always fostered a work culture that encourages and celebrates innovation with a laser focus on enhancing customer experience. We have over the years, institutionalized the culture of nurturing and developing creative…

Over the past few years, the outsourcing industry dynamics have changed quite a bit and Hexaware BPS has adopted well to these changes. Hexaware has made significant contribution in disrupting the industry norm and has successfully stepped into the area of Robotics to meet the customers’ needs. Transition team has played a key role in Hexaware’s BPS journey over the last few years supporting projects right from the proposal stage up to execution. The team has been able to deliver Business Transition projects seamlessly, and consistently. Some of the key factors to Hexaware Transition team’s success are: Robust Transition framework…

Digital transformation is the present Industrial Revolution. The rise of informed customers and innovative technologies have made the manufacturing industry an example of how effective modern operational strategies can reshape the overall operations of an organization. The amalgamation of production techniques with the latest technological developments have the potential to make manufacturing autonomous, cheaper and more efficient. Robotics, the Internet of Things (IoT), data analytics and 3D printing are just few of the digital solutions disrupting the space. This makes many organizations turn to IT consultancy for guidance. The below given infographic gives an idea of what digitization looks like…

Effective Scope Management is a key aspect in any Business Transition. This ensures that the project is delivered within the allocated time and budget. This is also a tricky activity, considering the dynamic nature of projects. Hexaware’s well-defined and robust transition framework ensures that the scope is effectively captured and documented and is managed effectively throughout the course of transition. Insights on effective scope management are presented below. However, to begin with, it is important to understand ‘what is scope’ and what is meant by ‘scope management’. What is Project Scope and its Management…? Scope refers to the detailed set…

The latest buzz words that we hear in the enterprise world are automation, real-time data, insightful reports etc. In this modern digital world, organizations must actively look for IT solutions that provide the above aspects and ensure they thrive in complex and dynamic environments. To satisfy their external and internal customers (employees), they need business agility and rapid decision making. Unfortunately, we see a lot of organizations still relying on manual methods for their internal processes, especially HR. They use excel sheets and ad hoc methods for implementing various HR functions which lead to higher costs and operational inefficiencies. The…

Over the last few decades, automating Human Resource (HR) processes have been a trend in this digitized world. Organizations are now looking for solutions in attracting and engaging talent global workforce and creating the best employee experience. This brings in attention for companies to have robust HR systems which can seamlessly deliver global HR capabilities in a standalone platform. Oracle HCM suite is one such latest application which aims to provide different HR modules that are highly configurable to suit one’s business needs. At present, several organizations are having challenges in streamlining their HR processes and if you are a…

Unless you’ve missed catching up on any business news for the last five years or so, you’ve probably heard of automation. There are multiple innovative assorted variants of automation as well, such as robotic process automation, service delivery automation, machine learning, cognitive automation etc. Insurers have acted and acted decisively. The results though, have been a mixed bag. Some of the automation variants claim great success, others a moderate success and the rest claim extreme dissatisfaction. Post conducting a study with HfS on the state of automation for insurers, we found only 42% were satisfied with the cost savings and…