Vendor Analysis
published on Oct 28, 2016
Report Overview:
This NelsonHall vendor assessment analyzes HCL Technologies' offerings and capabilities in RPA and AI in Banking BPS.
Who is this Report for:
NelsonHall’s Retail Banking BPS Vendor Assessment for HCL is a comprehensive assessment of HCL’s RPA and AI offerings and capabilities for the banking industry designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of RPA and AI services and identifying vendor suitability for banking ndustry (consumer banking, commercial banking, and capital markets) RPA and AI services RFPs
- Vendor marketing, sales and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of HCL’s RPA and AI services for banking offerings, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphases and new developments
- Analysis of the company’s strengths, weaknesses and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
This NelsonHall assessment analyzes HCL’s offerings and capabilities in RPA and AI services for the banking industry. HCL is one of a number of banking services vendors analyzed in NelsonHall’s comprehensive industry analysis programs.
HCL began its autonomics program in 2011, expanding this into RPA and AI in late 2013. Since then HCL has developed frameworks and built and enhanced tools for managing RPA and AI, including:
- DRYiCE framework: an autonomics and orchestration framework
- Toscana: a business process management solution for operations
- Lucy: a cognitive use agent for virtual assistance in end user services and cloud operations.
Most of the RPA and AI services which HCL delivers to clients are in the retail banking, investment banking, insurance, and telecom industries. HCL’s first banking RPA engagement began in 2014, for a global bank based in Europe. The engagement goal was to reduce the TAT for account opening and residential mortgage approvals. Using RPA tools, HCL was able to reduce average handle times by 80% and overall costs by 41%. This was achieved by improving the sourcing of information across disjointed systems in the bank, and increasing the accuracy of processing the data using automated processing. See Target Markets section for more detailed case studies.