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Blog posts under category Accord plc

  • Intelligent Automation Driving Profound Changes in Financial Services

    Apr 08, 2021, by Andy Efstathiou

      NelsonHall recently published a market assessment and forecast report on Intelligent Automation in Banking: Transforming Operations. We found that financial institutions must automate their operations if they are to compete successfully in a rapidly evolving marketplace. Currently, they operate with manual processes using a heterogeneous set of platforms, acquired over many years of [...]

  • WNS Aggressively Developing Digital Interventions to Transform Insurers’ Claims Capability

    Jan 22, 2021, by John Willmott

      WNS has a highly developed property & casualty (P&C) insurance practice handling 30 million claims transactions and ~$12 billion in claims spend annually. The company has extensive capability in property & casualty supporting motor, property, casualty, employer and public liability for insurers, fleet operators, MGAs, global corporates, and municipal authorities. WNS has [...]

  • 3 Key Growth Segments for Banking ITS & BPS in 2021

    Dec 18, 2020, by Andy Efstathiou

      Banks will spend 2021 pursuing different aspects of three key initiatives that have become more important since the advent of COVID-19. The first is process automation, which has become more important but needs to increase its delivery effectiveness.  The second, work-from-home (WFH) has also accelerated under COVID-19 but will need to change in 2021 to continue to be effective.[...]

  • Infosys McCamish Life & Annuities Platforms Combining Depth of Policy Coverage & Breadth of Customer Experience

    Nov 20, 2020, by John Willmott

      For some time, life & annuities carriers have suffered from a multitude of legacy platforms, with each implemented to handle a particular style of product that was either not handled by its predecessor or was added through the acquisition of a set of blocks from another carrier. The resulting stable of platforms has always been expensive to maintain. In recent years, this has bee[...]

  • Mortgage & Loan Industry Facing Profound Changes, Transforms Operational Delivery

    Jul 28, 2020, by Andy Efstathiou

      NelsonHall recently completed a market assessment and forecast report on Transforming Mortgage and Loan Services. We found that the lending industry is undergoing profound operational change as it adapts to slowing loan growth and emerging customer populations that are younger and more technology savvy. For the past two years, lenders have been: Variablizing and reducing the co[...]

  • Genpact’s Agile Approach to Collections to Support Scaling Operations

    Jun 12, 2020, by Andy Efstathiou

      The past decade since the global financial crisis (GFC) has been good for the lending industry. Loan delinquencies in the U.S. reached their highest level after the GFC in the first quarter of 2010 at 7.4% of commercial bank loan portfolios. Since then, loan delinquencies have fallen to 1.44% of loan portfolios as of the fourth quarter of 2019.  At the same time, loan portfolios[...]

  • Update: How COVID-19 is Impacting the Financial Services Industry

    Apr 21, 2020, by Andy Efstathiou

      This is an update on my last blog on the impact of COVID-19 on the financial services industry. Since then, I have interviewed many more industry executives both at banks and at operations services vendors. Industry responses are still muted, but clear signs are emerging that banks will be focused on prioritizing those activities which maintain continuity and support adaptation [...]

  • 35% of Insurance Carriers Will Adopt AI Across Multiple Use Cases by 2022

    Apr 06, 2020, by Sven Lohse

      NelsonHall predicts that by 2022, 35% of insurance industry carriers will be in the process of adopting AI technology across multiple use cases within the enterprise. This is based on NelsonHall survey data from the insurance industry that tracks adoption of both RPA and AI (NLP/ML/DL) technology across the property & casualty, health insurance, and life & annuities insurance[...]

  • How COVID-19 is Impacting the Financial Services Industry

    Mar 19, 2020, by Andy Efstathiou

      COVID-19 is impacting banking operations and, as a consequence, related business process services (BPS). Banks are already restructuring operations to address the emerging challenges from COVID-19 (see below for those challenges). The changes are just beginning and will continue to evolve over at least the next four months. While the global adaptation to COVID-19 will take much longe[...]

  • Establishing Digital Banks Requires Commitment and a Clear Roadmap

    Feb 03, 2020, by Andy Efstathiou

      Banks have been aggressively transforming their operations to a digital delivery model. It is well known that a key driver, across all industries, is the need to attract new, primarily young, customers who prefer omnichannel interaction with vendors and demand high-quality CX in their business interactions. Less well known are two key drivers that make speedy transformation imperativ[...]

  • Infosys Showcases Resiliency of Nearshore Outsourcing Services in Face of Natural Disasters

    Jan 23, 2020, by Sven Lohse

      A magnitude-6.4 earthquake struck Puerto Rico on January 6, killing one person, toppling homes and buildings, and triggering a blackout on the island that is still recovering two years after Hurricane Maria. Governor Wanda Vázquez declared a state of emergency and activated the Puerto Rico National Guard to help with recovery efforts. How might this earthquake disaster have[...]

  • 3 Key Growth Segments for Banking ITS & BPS in 2020

    Jan 22, 2020, by Andy Efstathiou

      Banks will spend 2020 pursuing three key initiatives that have not been a priority in the past. Two of them, open banking and cloud delivery, are technology environments that have just recently matured to the extent that banks are able to drive business model change with them. The third priority is M&A driving large ITS engagements, and is typical of late-stage economic cycle act[...]

  • NIIT Technologies Delivers Digital Transformation with Capacity & Capability at Speed and Scale

    Oct 10, 2019, by Andy Efstathiou

      At its 2019 Engage Client Forum last week, NIIT Technologies explained how it is adapting to a continuously changing business and technology environment to deliver digital transformation for its clients. At its 2019 Engage Client Forum, NIIT Technologies explained how it is adapting to a continuously changing business and technology environment to deliver digital transformation fo[...]

  • Infosys Accelerates BFS Growth in NA with Platform-Based Digital Services Sales

    Sep 17, 2019, by Andy Efstathiou

      At the 2019 Infosys Confluence North American event last week, we spoke with execs about how Infosys has been driving accelerated growth in the BFSI sector in North America. Most of Infosys’ revenues in BFSI are in Banking and Financial (BFS) services, where the recent growth been based on the following major activities: Installations of Finacle: in the past two years, Fi[...]

  • How Capgemini is Helping Banks Transform Trade Finance

    Aug 29, 2019, by Andy Efstathiou

      Improving efficiency and reducing manual processing of trade finance services has been a difficult challenge for over a century. However, the industry is on the cusp of a transformation which promises to standardize and automate this highly idiosyncratic, manual ecosystem. This blog identifies some of the key trends in trade finance transformation and how one vendor, Capgemini, is su[...]

  • HCL’s EXACTO Intelligent Automation Streamlines Bank Trade Processing

    Jul 16, 2019, by Andy Efstathiou

      The BFSI industries are increasingly looking to intelligent automation (IA) to address key challenges in their business. A recent NelsonHall survey of 50 BFSI executives found that they perceive that IA is able to replace manual processing and human decision-making, allowing the bank’s operations to decouple processing volumes from headcount. Key benefits respondents expect to [...]

  • The Characteristics of Successful Blockchain Deployments in Banking

    Jul 01, 2019, by Andy Efstathiou

      Blockchain has been a focus of technologists, VCs, and media pundits for several years now. However, to date, operational deployment remains minimal. Of all enterprises already working with blockchain, only a few percent have a scale operational deployment. Blockchain has seen three stages in its short history: Lab testing of the technology: 2014 to 2016. Key events include the[...]

  • WNS’ Healthcare Business & Approach to Transformation

    Jun 03, 2019, by Sven Lohse

      Dozens of influencers recently attended the WNS U.S. Influencer Day in New Orleans, where the theme was 'Co-create to Outperform’. Through general overviews of its approaches and through client presentations, the company provided insight into its recent success and its future plans. The backdrop for the conference was cheery, buoyed by 7% annualized growth over the prior fi[...]

  • EY Becomes a Services Delivery Orchestrator with wavespace

    May 08, 2019, by Andy Efstathiou

      NelsonHall recently attended the EY Global Analyst Summit in Boston. EY has grown its revenues at 8.5% CAAGR over the past five years, while investing heavily in technology and adapting its business model to become an IP-based services vendor rather than a provider of pure labor-based services.  Here I take a quick look at EY’s wavespace offering and how it is being use[...]

  • WNS Targets Mid-Tier Enterprises to Co-Create Digital Transformation

    Apr 29, 2019, by Andy Efstathiou

      I recently attended the WNS influencer conference in New Orleans, the theme of which was 'Co-create to Outperform’. WNS believes that the marketplace understands what transformation means for their businesses, but the challenge is how to achieve this vision. WNS’ view is that, for transformation to be effective, it needs to be customized for the client with their full[...]

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