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Blog posts by Andy Efstathiou

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  • How Citibank & Unicredit Are Delivering Digital Loan Origination

    Apr 11, 2018, by Andy Efstathiou

      Loan originations are a key part of the digital revolution taking place in the banking industry, and banks have two key goals when they replace their legacy loan origination systems (LOS): Enabling omnichannel delivery of LOS services Reducing time to fulfillment (turnaround time). Long-established banks are adopting digital solutions to achieve these goals with the expe[...]

  • The Key Business Outcomes From Digital Banking Services

    Mar 09, 2018, by Andy Efstathiou

      I am currently working on a global market assessment of digital banking services, and my interviews with banks and service providers alike are showing that technology implementation is less of a concern than how digital services will change the way customers and banks interact. As customer/bank interactions change, the industry’s competitive forces will change, and this will ev[...]

  • Open Banking’s Early Initiatives & Likely Winners

    Feb 02, 2018, by Andy Efstathiou

      Open banking is the concept that banks will open their platforms to third-parties for them to transact business with the banks’ customers and suppliers, and is required by regulations which are coming into force. Many advocates believe that this will spur innovation in financial services and create new business models. Here I look at the open banking landscape and at initial ef[...]

  • Adventures in Blockchain: Mphasis Focuses on Client Revenue Growth, Supporting Compelling Use Cases

    Dec 12, 2017, by Andy Efstathiou

      In this article, I look at Mphasis’ Blockchain initiatives and at the segments they are focusing on for further development with their financial services clients. Mphasis began its Blockchain initiatives in 2016, initiating internal experiments and POCs to understand the technology and how it can be applied to business challenges. Mphasis is working with a global financial s[...]

  • How NS&I Transformed its Digital Banking Customer Experience

    Nov 24, 2017, by Andy Efstathiou

      NelsonHall recently hosted a webinar in which U.K.’s National Savings and Investments (NS&I) discussed how it has transformed its customer experience and operations delivery, and in so doing increased the value of assets managed by 245% and annual contact volumes by 660% while reducing delivery staff by 76% and cost of operations, calculated on a per assets under management[...]

  • Adventures in Blockchain: Capgemini Focuses on Helping Clients Develop Their Roadmap

    Oct 25, 2017, by Andy Efstathiou

    In this blog, I look at Capgemini’s Blockchain initiatives and what segments they are focusing on for further development with their financial services clients. Initially, Blockchain engagements were focused on:  Using POCs to develop an understanding of the capabilities and limitations of distributed ledger technology (DLT) Developing business use cases, trying POCs to d[...]

  • Digital Services Drive Capgemini’s Financial Services Industry Engagements

    Sep 28, 2017, by Andy Efstathiou

      NelsonHall recently attended Capgemini’s financial services analyst conference in Boston, where the company discussed its activities and roadmap for the industry, which is focused on digital services. Here I look at how digital services are now driving Capgemini’s financial services business, with client examples. Capgemini’s shift to digital financial services [...]

  • Adventures in Blockchain: Virtusa Focuses on Security & Privacy Issues in Permission-Based Environments

    Aug 31, 2017, by Andy Efstathiou

    Most Blockchain use cases have focused on reducing the need for (and cost of) infrastructure. And in Virtusa’s case, the vendor has focused on engagements where it can combine Blockchain technology with other emerging technologies such as QR codes, IoT, and encryption algorithms to deliver enhanced security and cost savings for environments lacking adequate supporting infrastructure. Her[...]

  • Adventures in Blockchain: TCS Focuses on the Building Blocks of a Successful Blockchain Ecosystem

    Jul 11, 2017, by Andy Efstathiou

    Many Blockchain services vendors have observed that up to 75% of proofs of concept for Blockchain fail to meet their goals. Analysis of drivers for such widespread failure indicates that the initial use case was flawed because it was constructed to justify experimentation rather than solve business challenges. However, TCS has focused its Blockchain efforts on developing uses cases that can dr[...]

  • Avaloq Combines Tech & Ops Delivery to Help Wealth Managers Slip the Surly Bonds of Legacy Environments

    Jun 27, 2017, by Andy Efstathiou

      I recently attended the Avaloq client conference in Zurich. The conference was well attended, with ~400 attendees. Avaloq is on a roll, adding clients across offerings and markets for the past several years. Here I outline how they are doing it and what their next steps are. Background Avaloq is a privately held vendor of technology-based solutions and services to the financial[...]

  • HCL Acquires UFS’ Mortgage BPS Business to Build As-A-Service Consumer Loan Business in U.S.

    Jun 19, 2017, by Andy Efstathiou

      As discussed in my blog of April 12, 2017, the mortgage processing industry in the U.S. is challenged to remain profitable because, from 2012 to 2016, loans outstanding grew 1.8% per year, while processing costs grew at 7.3% per year. This is leading to industry consolidation and operational restructuring. A recent example of a BPS vendor consolidating in order to drive greater effic[...]

  • Adventures in Blockchain: Wipro Focuses on Rapid Innovation with Ethereum & Hyperledger

    May 12, 2017, by Andy Efstathiou

    This is the second in a series of blogs on current activities, use cases, POCs, and pilots with Blockchain in the financial services industry. In this one, I look at some of what Wipro is doing to support banks and financial services companies in deploying Blockchain solutions. Blockchain technology & services Wipro has been active for the past three years in offering Blockchain cons[...]

  • Adventures in Blockchain: Genpact Tackles O2C

    May 08, 2017, by Andy Efstathiou

    This is the first in an occasional series of blog articles over the next year on Blockchain initiatives related to the financial services industry. Blockchain is an emerging technology for which there are no current operational deployments, with initiatives still primarily at the consulting and design stage. Pilots have been deployed, but are relatively rare despite the rapid growth in experim[...]

  • WNS’ Banking BPS Strategy Focused on FinTech Service Enablement for U.S. Regional Banks

    Apr 21, 2017, by Andy Efstathiou

      NelsonHall attended the WNS analyst conference in New York last week for a business update and to hear about their current initiatives. Here I take a quick look at WNS’ banking industry business specifically, and at how it is focused on applying FinTech to BPS delivery to support large productivity gains for its U.S. regional banking clients. Market conditions are driving c[...]

  • Mortgage & Loan Industry Challenged to Achieve Profits, but Turning to FinTech to Drive Efficiency Gains

    Apr 12, 2017, by Andy Efstathiou

      The mortgage and loan servicing industry is beginning a period of rapid change in the way business process services are delivered. Over the past few years, mortgage portfolios have not grown rapidly. For example, in the U.S., the largest residential mortgage market in the world, loans have grown only 7.3% from year-end 2012 to year-end 2016, a CAAGR of 1.8%. Some lines of loans have [...]

  • Atos' Banking Business Focuses on Digital Transformation Opportunities Where it has Unique Capabilities to Grow Fast

    Mar 16, 2017, by Andy Efstathiou

      Atos’ recent analyst event in Boston provided insight into its roadmap for 2017-2019. This note focuses specifically on its digital roadmap for the banking and financial services sector. While financial services is Atos' smallest industry segment (17% of 2016 revenues), it was Atos' fastest growing vertical in Q4 2016, delivering 10.6% organic growth v[...]

  • Top 3 Predictions for Banking BPS & ITS in 2017

    Jan 13, 2017, by Andy Efstathiou

      Based on NelsonHall research conducted during late 2016, I have identified three key predictions for business process services (BPS) and IT services (ITS) in the Banking sector in 2017.   1. Compliance initiatives move from industry headwind to tailwind The first prediction is that compliance operations change initiatives will decline, and the resources released from th[...]

  • FinTech in the Commercial Banking Sector: From Mass Market to Custom Processing Efficiency

    Dec 14, 2016, by Andy Efstathiou

      Most FinTech engagements to date, with the exception of Blockchain, have been focused on consumer banking, a business characterized by high volume, high standardization, and low value transactions. By contrast, commercial banking is characterized by low volume, high customization, and high value transactions. And from an operational perspective, commercial banking uses higher value e[...]

  • HCL’s ISV Investments to Drive Legacy Modernization at Global Banks Over Next Ten Years

    Nov 29, 2016, by Andy Efstathiou

      At HCL’s recent adviser and analyst event, #HCLBigLeap, I spoke with their banking industry executives about HCL’s strategy and activities designed to drive application maintenance and modernization services, and specifically about the key ISV partnerships that are enabling this. Background HCL was founded in 1976, and had a strong focus on manufacturing during its [...]

  • TCS Moves KYC Compliance Beyond Remediation to Customer Insight

    Oct 07, 2016, by Andy Efstathiou

      Over the last five years, banks have been focusing their operational investments and executive mindshare on compliance, and in this time the cost of compliance activities has increased ten-fold. Also, in the last three years, the focus for compliance has been on customer profile activities that utilize reference data – e.g. Know Your Customer (KYC), Anti-Money Laundering (AML),[...]

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