Driving BFSI Success with Cognitive Business Operations
A Joint Study by NelsonHall and TCS on the role of Cognitive Business Operations in BFSI
BFSI firms have typically been at the forefront of automation and led the way in terms of early RPA adoption. However, despite these early successes, their processes continue to have considerable room for enhancement in terms of reducing the levels of human involvement and exception handling and in delivering greater levels of both process and business insight.
The purpose of this study is to assist executives in the banking, financial services and insurance (BFSI) sector in understanding the future of business process services as it relates to capital markets, retail & commercial banking, and insurance.
The study is based on:
- Discussions with 50 industry executives in the capital markets, retail & commercial banking, and insurance sectors across North America, Europe, and Asia Pacific to identify their operational transformation priorities and
- Discussions with TCS executives to understand TCS' approach using cognitive business operations in BFSI companies
- TCS BFSI case studies of the adoption of cognitive business operations in BFSI
As a pioneer in providing cognitive business operations, TCS has partnered with NelsonHall in this joint study to identify the critical success factors in moving to the next wave of cognitive operations. The study looks at the increasing importance for companies in selecting vendors with a wider end-to-end transformational capability than automation alone, and who can complement their automation and domain expertise with agile, cloud apps, infrastructure, and security capabilities, ideally incorporating industry process transformation solutions.