Industry
Banking
Banking Services Transformation: Unlocking Exponential Value
Capital Markets
Unlocking Exponential Future Growth in Capital Market Firms
Insurance
Reinventing the Insurance Industry with a Digital-first Strategy
Solution
Consulting
TCS Consulting Services to Achieve Success in the Digital Era
Highlights
- There is no dearth of data for banking, financial services, and insurance (BFSI) organizations. What is challenging is getting timely, relevant, actionable insights from the data.
- TCS Advanced Quantz & Analytics creates new opportunities with precise, actionable insights from data through enterprise-wide analytics and offers robust back-testing for effective risk hedging.
- The offering delivers better, faster, business-contextualized analytics by working on both front-office-focused growth and back-office-focused optimization.
On this page
Overview
The journey from data to insights is complex and often challenging for banking, financial services, and insurance (BFSI) organizations.
They are under a lot of scrutiny from regulators and face heavy penalties for not meeting customer and mission- critical objectives. To overcome this, the industry has been on the look-out for better techniques to complement their analytics landscape with smarter investment models, data-driven AI-ML capabilities, enhanced risk detection and hedging models, accurate forecasting and behavioral models, and effective anti-financial crime strategies.
TCS Advanced Quantz & Analytics is a highly business (front-office)-focused offering that helps BFSI customers become more competitive with best-in-class engineering combined with business contextualization, strategy, design, consulting, and innovation services. With its machine learning (ML) and deep learning components like ML-based pricing models, simulators, incremental alpha models, predictive analytics for claims, and large language model (LLM)-based underwriting extraction and scoring, it delivers the experience and promise of analytics-enabled ecosystem. This, coupled with ML-based data quality capabilities, synthetic data generation, quantitative modelling, data science monitoring, and explainable AI, the TCS Advanced Quantz & Analytics offering ensures enhanced customer experience.
Challenge
Despite the abundance of data, BFSI organizations are struggling to derive actionable insights out of
While firms have tried to take this challenge head-on with analytics programs to improve client experiences and fend off competition from new entrants outside the traditional financial services industry, not many have succeeded. The main reason is that these programs are often siloed and do not cut across the enterprise. Compounding the issue is the changing nature of regulations and problems related to data security, validation, and governance.
TCS provides end-to-end analytics services to help organizations solve both growth and transformation (top line) and optimization (bottom line) problems. By harnessing the power of deep learning AI-ML and LLM models, TCS Advanced Quantz & Analytics opens up new opportunities and incremental alpha with precise and actionable insights from data along with robust back-testing for better risk hedging (Figure 1). Working at the enterprise level, the offering helps scale analytics journey by intelligently addressing complex business use cases like trade and market surveillance, fraud detection, data quality through ML, 360-degree persona, and many more.
A graphic illustrating how TCS Advanced Quantz & Analytics can transform the BFSI landscape.
Solution
TCS helps solve real-world problems with the power of data science and machine learning.
Working on both front-office-focused growth and back-office-focused optimization, TCS Advanced Quantz & Analytics helps deliver better, faster, and effective business-contextualized analytics.
The offering provides:
- Advanced machine learning and data science (ML-AI) capabilities
- Quantitative modeling and financial engineering for BFSI customers
- Enterprise-wide analytics (cloud and advanced visualization)–incubation to scaling
- Deep learning-based knowledge graph applications across complex use cases at enterprise level
These capabilities are strengthened with insights from TCS' applied data science center of excellence (CoE), quantz CoE, applied analytics CoE, and semantics and graph CoE, respectively.
Benefits
TCS Advanced Quantz & Analytics helps improve growth and transformation strategies through advanced analytics application.
The key benefits of the offering are:
- Better front-office focus through growth-focused analytics modeling
- Effective risk hedging through better back-testing strategies
- Superior techniques for quant modeling–market risk, portfolio analytics
- Accurate pricing and forecasts for better quotes
- For insurers, ML application segments existing customers based on their risk levels
- Asset allocation through short-term pool structures for insurers
- Shifting underwriting from traditional to ML-based scoring models
- Application of generative AI and LLM models for intelligent insight extraction (doc-based) through decision intelligence
- Effective anti-financial crime strategies to mitigate financial risk and improve compliance
- Trade and market surveillance through advanced network representation to detect manipulation
- Risk detection and prevention
The TCS advantage
TCS leverages its domain expertise and partnership ecosystem to deliver unmatched outcomes.
1. Ecosystem access:
- Partnership and alliance access to more than 1,000 ecosystem players to help in various aspects of customer pain areas
- Industry expertise of platforms catering to customer journey creation, monitoring, and design
- Incubation and early technology access to more than 500 fintech players as part of COIN™ ecosystem, providing competitive advantage to TCS customers
2. Domain expertise:
- Servicing more than 154 BFSI customers in more than 3,000 processes close to business
- Practitioner view and experience of more than 50,000 full-time equivalents (FTEs) involved in BFSI operation
- Servicing 24 top Fortune 100 customers; contact centers to understand the end-customer perspective and pains
3. End-to-end capabilities:
- Only service provider in the market, which can bring the capabilities of platform, service, technology service delivery capabilities bundled with rich consulting capabilities
- Walk the talk from consulting to implementation
4. Business model innovation:
- Outcome-focused engagement for heightened accountability and service leadership
- Modular and flexible engagement enabling efficiency
- Completely platform-agnostic service as well as platform (partner)-bundled service providing seamless service guarantee
- Reimagine current business landscape through advanced ML-based models and frameworks, replacing traditional models, thus enabling digital transformation