Financial Services

The HCL AXON Financial Services practice blends an unrivalled depth and breadth of industry knowledge in banking and insurance with a rich set of core capabilities in Business Consultancy, Systems Integration and Applications Management. We have created a Sector wholly focused upon the future of the financial services industry, with a particular focus on our alignment to SAP solutions to meet the needs of our clients. Our consultants have many years experience in the industry and are strong in implementation of SAP core banking solutions and crucially, in understanding the business challenges and issues that need to be solved by those implementations.

Competitive Challenges

Banks and Insurers face an increasingly competitive market that demands rapid deployment of new products and services, deep customer insight and excellent customer service to be provided at a lower operational cost than at present. These challenges are exacerbated by an ever-tighter regulatory environment which imposes constraints and costs upon the Financial Services industry.

At the same time, most banks and insurers are struggling to cope with ageing and inflexible systems environments, which are difficult and expensive to integrate across functional silos and which inhibit the enterprise-wide transformation needed to meet the business challenges ahead.

Meeting the Challenges

A step change in business and technology delivery is required to reconcile these conflicting requirements. HCL AXON believes that the industry will move towards more open and services-oriented platforms with integrated core banking systems to resolves these issues.

SAP's proposition for Financial Services, which is based on delivering real business benefits by aligning applications and enterprise level services with a company's business architecture, will address many of these issues and will therefore experience rapid adoption globally.

SAP Transactional Banking solutions will give banks the ability to:

• Improve their marketability with rapid and flexible development of innovative offerings tailored to particular customer needs (and provide processes that deliver those offerings effectively)
• Reduce costs through streamlining of operations, reducing total cost of ownership and time-to-market development

SAP Analytical Banking solutions will help to minimize compliance costs while creating information for strategic business planning by:

• Offering the most complete solutions in the industry, providing support for the alerts, scorecards, records management, archiving, workflow, and security required to meet today's compliance needs
• Offering the best solutions for aligning processes for regulatory compliance, risk management, financial reporting, and customer analytics

Combined on a single platform, these solutions will give banks an unparalleled power to meet the challenges that the industry is facing.