The last two decades have seen an increase in the range of financial instruments, which appear simple in construct, but create complexities for banks and FIs as was seen for CDO products during the global financial crisis. These throw up significant challenges in the Asset-Liability Management (ALM) space from a point of view of ensuring that commitments are met in a timely manner without an unmanageable impact on their balance sheets.
Our solutions for ALM enable banks and financial institutions to manage forex, interest, and liquidity (trading and funding) risks in their books much more proactively. This enables our customers to meet their commitments as well as perform effective capital planning with considerations for contingency. We help them implement their particular risk appetite and strategy by disaggregating, hedging and pricing risks more accurately. Our data aggregation and management capabilities help build a strong risk data foundation. From the same, generated insights help drive effective risk management and appropriate earnings attribution to different segments in the bank’s portfolio across business units.
Clear insights, aided with simulations for different business scenarios, bolster the management of mismatches or structural gaps with static and dynamic approaches. This also aids in stress testing for NII fluctuations in different market conditions. Key ratios for liquidity adequacy and sector specific concentrations are kept in check. We have enabled risk data management programs to comply with BCBS239 and similar regulations for global FIs, and our domain-based accelerators here help in overcoming the complexity of financial products data for reporting and simulations, particularly in an ALM applications landscape spanning multiple systems across geographies.
Hexaware’s strategic consulting services for banking helps banks and financial institutions respond to particular problems emanating from the customer segment they address, the growth stage that they are in and the IT issues that may hamper a quick response to the market. We bring to the table specific tools that help measure how effectively business objectives are translated on-ground through IT for various services provided through all banking channels. Our holistic approach helps pinpoint and resolve the exact pain-points and bottlenecks that stifle operational efficiency of business systems behind the scenes (operations transformation), and those that create gaps in experience at the customer-facing end (CX transformation). Our assessment frameworks help derive strategic roadmaps for IT to help build sustainable assets that support business as both the market changes, and the organization grows.
With highly commoditized services in the case of Consumer Banking and reducing margins in Corporate Banking, user experience goes a long way in retaining customers beyond tangible business value in the services delivered. Our dedicated Customer Experience (CX) capabilities help create a comprehensive experience that isn’t just limited to the digital applications we help build, but one that pervades the entire customer journey and gamut of operational processes, beginning from the point of on-boarding. Our transformative approach leverages disruptive technologies and smart service agents to bring radical and far-reaching performance breakthroughs across the touchpoint spectrum. Our offerings span contact center outsourcing, chatbots and conversational UI, AI-voice assisted business apps and voice of customer analytics, and thereby transforms and elevates customer experience in banking.
The right data creates the foundation for responding to business challenges and for regulatory compliance. However, evolving it to the next level of leveraging for strategic advantage requires radical abilities hinged on AI / ML (Artificial Intelligence / Machine Learning). Today, more than ever before, the role played by analytics in banking spans diverse functions, processes and organizational structures. Our Business Intelligence & Analytics solutions driven by data science expertise combined with strong banking domain expertise helps derive insights that aid decision making at all three levels – strategic, tactical and operational. Our well-equipped data science community and innovation labs for solutions incubation helps banks share and mitigate risk by arriving at data science powered solutions before they commit on substantial technology investments in hitherto unexplored areas.
Hexaware’s Business Process Services bring the unique proposition of automating everything, even at the cost of cannibalizing our own revenues. This comes with both the belief and conviction that automation in banking process management is inevitable. With our banking domain capabilities that span global processes, we help take over servicing of critical processes from our clients, with proven de-risking approaches and help transform and cost-optimize those processes through automation. The following are the three pillars underpinning our Business Process Services / Digital Managed Services:
As Cloud has become the biggest imperative for a business today, there are peculiar challenges that banks and financial institutions face as organizations for not only Cloud migration from a traditional ecosystem, but also while managing operations and developing applications. Key ones include ensuring zero business disruption, protecting customer data and meeting regulatory compliance. With industry leading partnerships and offerings of Cloud consulting, Cloud native development and Cloud enablement / migration, we bring a multitude of risk-free solution choices. These Cloud banking solutions not only transform operational efficiency and cost advantage, but also add competitive advantage, as banks leverage Domain Driven Design principles, Microservices architecture, Containerization, Agile, DevOps and Platform-as-a-Service to further evolve the core banking system.
Going further on our organizational strategy of delivering services underpinned on the highest levels of automation and passing back the entire cost advantage back to our clients, Hexaware continually drives the evolution of our clients’ operations by disrupting existing practices, implementing intelligent automation in banking, and transforming and optimizing current processes. This helps deliver an enhanced and elevated customer experience without inducing any additional risks. We move beyond RPA (Robotic Process Automation) to SPA (Smart Process Automation), which not only helps automate mundane, low complexity tasks of repeating nature, but leverages AI / ML technologies to figure out business activities that are the root causes of inefficiencies. The same can either be entirely eliminated with process corrections or be automated further for reducing costs.
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