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Category: BFSI
Disrupt or be disrupted: The soaring pace of innovation in payments
HFS launches its first-ever cards and payments Horizons report. Payments demonstrate the fastest innovation cycles in BFS and are in a constant state of disruption as digital models decimate the cost and data intelligence capabilities of legacy systems. Payments-industry shifts are forcing incumbents to work harder to capture growth, pick up the pace of digitization, gain economies of scale, and manage risk—all while contributing to innovation. These demands can be overwhelming, but the potential for growth and innovation in the payments space is real. Therefore, attracting new players in great numbers, crowding the market, and raising the competitive stakes.Read More
A modern-era lift and shift: Danske Bank seeks massive cost-to-income ratio improvement with the help of Infosys
As the IT services industry braces for a slowdown in 2023 with large deals taking eons to get completed, Infosys adds some renewed hope to ambitious service providers that big, meaty deals can still get thrashed out, with a 1,400 employee $450 million outsourcing engagement with Danske Bank.However, rather than basing a deal's value on tangible cost takeout from onshore–offshore employee displacement, firms like Danske have to look to other metrics to justify the cost. Those metrics are tied firmly to the technology and talent (aka “digital”) capabilities Infosys can bring to the table to make Danske a more innovative, efficient, competitive—and ultimately profitable bank.Read More
Cognizant gets savvy with Ravi to resurrect its mojo at the intersection of industry and technology
In its recent past, Cognizant had achieved what most of the industry still fails at today: Everyone understood the “Why Cognizant”, versus just the “what” and the “how”. What had been the poster child for modern offshore-centric outsourcing for a decade and a half has struggled since activist investor Elliot management squeezed the life out of the firm in 2017. Can new CEO Ravi Kumar reinvigorate the firm’s culture while also setting out a new course for growth in the era of The Generative Enterprise? The bookings momentum in 2023 is indicating the firm is on the right track...Read More
Another bank bites the dust. Three recommendations to wring opportunity out of this so-called crisis.
To paraphrase Freddie Mercury, “Another bank bites the dust," and this time it’s First Republic Bank. While there is an undeniable crisis of confidence at play fueled by various macroeconomic factors and exacerbated by the spate of bank failures, crisis begets opportunity for the bold. Here are three recommended actions that growth-minded banks should take immediately to ensure survival at a minimum and potential leadership if done well.Read More
New HFS Horizons Report! Retail banks aggressively pursue new forms of value
The HFS Horizons Report: The Best Service Providers for Retail Banks, 2023 assesses how well service providers are helping their retail banking clients embrace innovation and realize value across three distinct horizons: Digital, Experience, and Growth.Read More
Infosys, TCS, Accenture, Wipro, and HCL helped BFS firms go from digital façade to OneOffice during the pandemic
HFS BFS practice lead, Elena Christopher, weighs in to share the results of our 2021 Banking and Financial Services research on the leading service providers specialized in support BFS clients.Read More
Pounding though a Pandemic… LTI and Mphasis show why enteprise customers want the personal touch
LTI and Mphasis entered the pandmic on a long growth curve, quickly readjusted and carried on regardless...Read More
Dealing With Failed Attempts On A Blockchain Application: Security And Fraud Prevention Questions To Ask Your Vendors
Blockchains record completed transactions but attempted transactions that get rejected just go back out into the ether.Read More
Time to go fishing for Fintech in Boston?
The Boston community has growing influence in how modern technologies are making their way to various BFSI segments including payments, capital markets, insurance, mortgage, financial reporting, and taxation.Read More
IoT is only transformational to a point: we need to evolve to the Banking of Things to mine its true potential
Getting connectivity to things is the start. It will become interesting when connectivity of things is extended to the payment of things and ultimately to the commerce and banking of things.Read More
