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Blog posts by Andy Efstathiou

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  • Wealth & Asset Managers Shift Focus to Serve New Customers

    Jan 29, 2024, by Andy Efstathiou

      Financial institutions are rapidly starting or growing existing wealth and asset management businesses. In the U.S., wealth assets under third-party management have grown over the last five years by 16.8% CAGR to 2023 (Source: Statista). Wealth advisors are looking to continue to invest in and grow their wealth management businesses because they see continued growth coming from: [...]

  • Three Key Predictions for Banking in 2024

    Jan 04, 2024, by Andy Efstathiou

      In 2024, the financial services industry will face strong economic headwinds. Usually, this is a formula for downsizing and consolidation. However, today’s headwinds are so strong that the industry will need to: Assess and restructure its supply chains to address new priorities such as ESG reporting Accelerate customer experience transformation to increase personalizati[...]

  • ESG Services Transforming Data Management in Banking

    Nov 30, 2023, by Andy Efstathiou

      ESG services are an emerging set of tracking and reporting capabilities for enterprises. Emerging technologies do not mature in a straight line but cycle through peaks and valleys of development and adoption as they mature. In the past year, ESG services have passed from the euphoria stage of market adoption to the valley stage as the hype has been confronted by the real-world challe[...]

  • ERP Renewal: How Capgemini is Helping Financial Institutions

    Aug 25, 2023, by Andy Efstathiou

      Financial institutions use legacy ERP solutions to monitor, control, and report on their business activities. At large institutions, most of these solutions were deployed in the 1990s and have inflexible architectures that need the requisite functionality to report on modern products, regulations, and industry practices. In this blog, I look at how Capgemini is helping clients tackle[...]

  • Unisys’ ESG Orchestration Manager Enabling Compliance with Germany’s Supply Chain Act

    Aug 22, 2023, by Andy Efstathiou

      Compliance is driving the adoption of ESG initiatives by enterprises, and currently Europe is ahead of other markets in the rigor of its ESG-related legislation and regulatory code. In this blog, I look at what Unisys is doing to make it easier for enterprises to comply with Germany’s Supply Chain Act. Background In 2023, several new regulations have increased compliance [...]

  • IA Transforming Financial Services by Improving Operational Delivery

    Jul 19, 2023, by Andy Efstathiou

      NelsonHall has just completed the research for a market assessment and forecast report on Transforming Intelligent Automation Services in Banking. We found that banks have accelerated the adoption of IA services in operations over the past two years, a shift that has been driven by: Declining operating margins on legacy businesses Pursuit of new customer demographics to repla[...]

  • Capgemini Bringing Hyper-Personalization to Financial Services

    Jun 27, 2023, by Andy Efstathiou

      Capgemini has partnered with Microsoft to develop and market a dynamic hyper-personalization offering for the financial services industry. This blog explores how hyper-personalization capabilities can be adapted to the unique needs of the financial services industry. Background Enterprises want to increase the personalization of their offerings to customers to increase CSAT an[...]

  • How Capgemini is Tackling Transition to T+1 Capital Market Settlements

    May 15, 2023, by Andy Efstathiou

      The securities industry is moving towards shorter settlement cycles to reduce risk and increase efficiency. The last reduction in settlement windows in the U.S. was in September 2017 when settlements moved from T+3 (three-day settlement) to T+2. In February 2023, the U.S. SEC announced that all companies trading securities on U.S. exchanges needed to move to T+1 settlement by May 28,[...]

  • WNS’ as-a-service Loan Origination Helps Address Cost & Volume Issues

    May 09, 2023, by Andy Efstathiou

      The lending business is highly cyclical due to its sensitivity to interest rates, economic cycles, and capital availability to fund loans. According to the Mortgage Bankers Association, these factors are currently driving down mortgage originations, which have fallen 60% y/y in the U.S. in Q4 2022. The decline in originations pressuring the margins of this high-cost activity is th[...]

  • Financial Institutions Using IA to Deliver Greater Operational Agility

    Apr 14, 2023, by Andy Efstathiou

      In the financial services industry, there was an initial expectation that demand for intelligent automation (IA) would fall off as clients changed platforms and moved to a microservices architecture. Instead, the application of IA in financial services has grown rapidly. The initial evidence from my current study shows that despite challenges deploying the technology effectively, the[...]

  • Financial Industry Driven to Transform Operational Delivery to as-a-service

    Apr 06, 2023, by Andy Efstathiou

      NelsonHall recently completed a market assessment and forecast report on Transforming Financial Services with Cloud, SaaS, and BPaaS Services. It reveals that the financial services industry is responding to the industrialization of cloud services from hyperscalers and IT services vendors by transforming its platforms to microservices architectures and then moving them to the cloud. [...]

  • AI FinTech: What to Expect in 2023

    Dec 09, 2022, by Andy Efstathiou

      2022 has been a very strong year for IT services firms delivering cloud, digital, and AI services to the financial services industry. 2023 looks to be a very different year for these vendors as they are finding it difficult to hire skilled resources, find clients able to fund new large projects, and partner in strategic growth areas. Successful BFS technology consultants will need to[...]

  • Data Management & Operational Agility Key to Mortgage & Loan Industry Transformation

    Oct 10, 2022, by Andy Efstathiou

      In NelsonHall’s recently published market assessment, Transforming Mortgage and Loan Services, we found that lenders are changing their approach to mortgage and loan operations from a focus on BPS and integration services to a focus on cloud migration and data management services. The goal for lending institutions today is to be able to support open ecosystem models, new pro[...]

  • Capgemini’s ESG Services Focused on Scope 3 Carbon Reduction & Advanced Reporting

    Aug 15, 2022, by Andy Efstathiou

    ESG is a hot, but poorly defined, topic. Many firms and investors have started ESG programs, but recent allegations of “greenwashing” and ineffectiveness have undermined confidence in them. So, what are the components of an effective ESG program? ESG is a wide set of dissimilar goals (e.g., carbon emissions reduction is very different than social inclusion). By focusing deeply[...]

  • EY Managed Services Driving Increased Efficiency for Clients

    Jun 27, 2022, by Andy Efstathiou

      I recently attended the EY Managed Services Analyst Summit. EY’s managed services business just finished a gangbuster year, growing 30% over the prior year, with some sub-segments growing at rates up to 150% y/y. Managed services is EY’s fastest growing line of business, justifying EY’s 12-year-long commitment to this business. Here I look at EY’s managed serv[...]

  • Capgemini’s Approach to Building DeFi Offerings

    Mar 25, 2022, by Andy Efstathiou

      Industry background Financial services are very centralized, with exchanges, central banks, and custodians delivering platform-based services to any user who wants to make a financial transaction or own a financial asset/liability. Decentralized finance, DeFi, is a financial system built on distributed ledger technology (DLT or blockchain) that allows a user to transact and own w[...]

  • Digital Banking Driving Profound Change in Financial Services

    Feb 23, 2022, by Andy Efstathiou

      In NelsonHall’s newly published market assessment, Digital Banking Services: Transforming the Financial Services Industry, we found that financial institutions are changing their approach to digital services: from a focus on digital channels and CX to a focus on rapid solution development, cloud migration, data management, and STP. The goal for financial institutions today i[...]

  • How Xebia is Helping Banks Improve Key Processes

    Jan 13, 2022, by Andy Efstathiou

      Digital transformation has accelerated in the banking industry since the start of the pandemic. This blog describes some recent digitalization activities a bank undertook with Xebia to improve its customer contact processes and provide differentiated service with increased efficiency. The challenge A U.S.-based neo bank began experiencing ongoing high call volumes in its call [...]

  • Two High-Growth Areas for Banking ITS & BPS in 2022

    Jan 11, 2022, by Andy Efstathiou

      In 2022, the financial industry will continue to focus on building out its cloud and digital services infrastructure. This will be a deepening of capabilities for banks that have started their transformation, and the start of the journey for institutions that have not yet initiated their transformation. The growth rate of digital transformation is very high at ~20%. Since most tec[...]

  • Kyndryl: Key Lessons in Moving a BFS Provider to the Cloud

    Dec 20, 2021, by Andy Efstathiou

    On December 15, 2021, Kyndryl and Viewpointe announced a cloud migration, modernization and management contract. The engagement provides insight for BFS executives into how banking services operations vendors are moving to the cloud to simplify operational delivery and enable business model change to expand and improve their business.    Current state Viewpointe provides conte[...]

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