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[...]
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 [...]
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),[...]
Sep 05, 2016, by Andy Efstathiou
I attended Cognizant’s biannual analyst event in New York recently and spoke with their head of blockchain consulting. Cognizant has been investing heavily in services and technologies to enable the digital enterprise, including the blockchain technology stack. Eighteen months ago, Cognizant began developing blockchain assets based on various open source frameworks, and today they have o[...]
Jul 22, 2016, by Andy Efstathiou
The media, and vendor marketing departments, have described RPA as a compelling technology for enterprises, based on its perceived ability to reduce operational cost. However, our review of case studies and BPS vendor offerings reveals a more complex set of drivers at work. Here I take a brief look at examples of the application of RPA in the banking sector.
The banking industry has been ch[...]
Jul 07, 2016, by Andy Efstathiou
Here I take a look at how platform-based business process services (BPS) is yielding benefits for retail banks – specifically, delivering manual processes with greater efficiency, increasing automation, and delivering transaction products at scale.
Delivering manual processes with greater efficiency
Retail banking (RB) BPS is a large-scale, mature business with high adop[...]
Jul 13, 2015, by Rachael Stormonth
On July 3, Infosys announced it has been awarded a multi-year application development and management (ADM) services contract by Allied Irish Banks (AIB). As a strategic partner to AIB, Infosys will:
Provide application development and management, and transformation and innovation services
Set up a 200-seat facility in Dublin to house staff who will be transferring from [...]
May 07, 2015, by Andy Efstathiou
Over the past few weeks the major payment processing vendors have reported first quarter 2015 financial results, and they show a noticeable slowdown n y/y growth from 2014 (refer to NelsonHall Tracking Service articles for detailed analysis of the quarterly results). Summary results for Q1 2015 (in USD unless stated otherwise) are as follows:
Card networks:
Mastercard: +2.7%&nbs[...]