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HCL - Wealth and Asset Management BPS

Vendor Analysis

by Andy Efstathiou

published on Feb 24, 2016

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Report Overview:

This NelsonHall assessment analyzes HCL’s offerings and capabilities in wealth and asset management services. HCL is one of a number of wealth and asset management services companies analyzed in NelsonHall’s comprehensive industry analysis programs. 

Who is this Report for:

NelsonHall’s Wealth and Asset Management BPS Vendor Assessment for HCL is a comprehensive assessment of HCL’s wealth and asset management BPS offerings and capabilities designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for Wealth and Asset Management BPS 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 wealth and asset management BPS 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:

HCL started in the wealth and asset management BPS business in 2002, when it helped a leading European banking and financial services company to set up an operational delivery capability in India; as part of this engagement it started delivering investment banking BPS services for capital markets activities. Over time, HCL has grown its wealth and asset management BPS services by focusing on a few very large clients.

HCL’s wealth and asset management BPS delivers services from seven delivery centers in:

  • Chennai
  • Coimbatore
  • Pune
  • Gurgaon
  • Manila.

HCL is currently looking to expand its W&A delivery capabilities with a delivery center located in Continental Europe.

HCL’s primary targets for wealth and asset management BPS are:

  • Tier one global financial institutions (custodians and universal banks) based in the U.S., Europe, and Australia
  • Mid-tier and regional wealth management firms based in the U.S. and Europe.

In future, HCL will continue to target market dominant financial institutions in its current and new markets.

HCL is committed to:

  • Growing its presence in banking and capital markets BPS, which already represents most of its vertical BPS business, and has been built on joint ventures/assisted captive models with client captive operations, providing HCL with an ‘insider’s’ domain expertise on wealth and asset management operations
  • Leveraging its significant experience in managing large asset and wealth management operations
  • Bringing in transformation by leveraging robotics across the post-trade processing life cycle, and also expanding its fund administration mandates.

HCL is looking to grow its wealth and asset management BPS business by:

  • Expanding its addressable market to include mid-tier and regional wealth managers
  • Focusing on bringing robotics into wealth and asset management BPS, combining Toscana (a BPM tool) and robotics solutions
  • Providing variable levels of operational support to clients, to facilitate seasonal operational scaling
  • Providing certified staff to deliver domain expertise, and accommodate cost effective compliance. 

Table of contents:

Table of contents:

  • Background
  • Revenue Summary
  • Key Offerings
  • Delivery Capability and Partnerships
  • Delivery
  • Pricing and Contracts
  • Platforms
  • Changes to Operations
  • Target Markets
  • Strategy
  • Strengths and Challenges
  • Strengths
  • Challenges
  • Outlook

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