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Highlights
In this journal, we present a compendium of viewpoints serving as a bridge between academic theories and industry best practices. The intent is to enrich our readers’ understanding of financial services trends and technologies through the TCS BaNCS way.
The authors and contributors to this edition traverse a wide range of topics, including:
Apps to marketplaces Building bridges for the digital, shared and connected economy: The power of a system today flows from how it enables reusable, externalizable APIs. This applies to all industries and players, be it Apple or Amazon. TCS BaNCS is treading a similar path.
Impact of blockchain on digital identity: Blockchain solutions are increasingly being explored, given their inherent characteristics of engendering trust and transparency and user control all key factors for digital identity management.
AI and AML (Anti-money laundering): Many AML and sanctions screening processes have been developed on legacy systems that are unable to function or are not scalable and unable to operate in the new real-time payments reality. So, what AML systems do banks deploy and what level of automation exists to monitor and detect money laundering?
A co-existence approach towards ISO 20022 adoption: A “co-existence” approach, enables ISO 20022 standards to deliver enriched data elements to participants receptive to the change while, simultaneously, allowing other participants to continue with the previous set of standards.
Enhancing Customer Acquisition through Digital Account Opening: When removing friction from the customer journey is one of the top objectives of banks today, how can a bank make the digital account opening process quick, easy, and seamless across any channel or device or app? Let’s look at some facts.
Crypto currency on dividend distributions: Whether crypto assets are securities or not, understanding what to do with them and how to perform basic custodial functions such as tax and regulatory reporting, make this an ongoing hot topic.
Robo advisory in wealth management: has it gone far enough? With the evolution of robo-advisors, markets have consolidated with new digitized offerings from established participants. Explore what has changed in the last few years and what’s next.
The rise of ‘non-insurance’: The advent of digital technologies is rapidly changing the industry, giving rise to alternate and non-traditional insurance models that offer speed, convenience, and ease that the new generation is looking for.
Cloud and digital transformation: Cloud is now fast becoming a vehicle for innovation and bringing in a level playing field in the financial services industry. It is enabling large ecosystems of players to interact and work with expensive technologies like machine learning and AI.
Are SaaS applications a preferred choice today? There is no one right cloud strategy for all financial companies. In this article, we look at what makes for reasons behind slow adoption and also at what makes for a competitive SaaS strategy, one that can engender revenue growth and create a scalable, resilient environment.
Swipe LeftSwipe RightAt TCS BaNCS, our product investments in evolving a digital core foundation are aimed at giving our customers a best-in-class business capability, which can also be delivered either natively or via microservices and APIs. We see increasing adoption of cloud and other platform-based consumption models among our client base and expect this trend to continue. Enriching end client/end user experience by adopting cognitive technologies, delivering actionable insights leveraging resident data, and allowing integration into larger ecosystems leveraging DLT are the other areas where we are investing heavily
Venkateshwaran Srinivasan
Global Head, TCS Financial Solutions