Banking and Financial Services Standouts
|Provider||Client||Case Study Summary|
|Continuous testing powered by automation. Improves time to market, customer satisfaction|
Atom bank, a leading digital challenger bank, partnered with Cigniti to create a continuous testing process. This was crucial for the bank ahead of important product launches. Cigniti’s automated continuous testing found 80% of defects early in the life-cycle resulting in effort and cost savings across IT (Dev and Test). The overall testing process shrank from weeks to hours, giving the bank the capability to launch new products faster and introduce changes on-demand – leading to substantial improvement in end-user experience.
|New digital platform removes the need for branch visits in corporate banking|
Concentrix worked with HDFC Bank, the largest private sector bank in India, to launch a paperless solution for trade finance processing that is more convenient for customers, reduces overhead costs for banks by as much as 30%, and relies on automation to reduce the risk of human error. For processing documentation intensive trade finance transaction, they have even launched a mobile version of this platform – one of the first in the Indian trade finance industry.
|AIOps adoption improves reliability of IT and business operations in mortgage services|
GAVS Technologies partnered with a provider of mortgage services company in the US to deliver IT Services enabled by their proprietary AIOps solution, the Zero Incident Framework, that enabled significantly improved reliability of their IT and business operations. This cloud-based AI-led solution, ZIF.ai, for an integrated Network Operations Center, allows the company to seamlessly monitor and analyze alerts from several internal tools in a “Single-Pane of Command”, but also correlate the incidents thereby reducing time to repair, and proactively predict critical system outages causing business disruptions. This ability of GAVS’ Zero Incident Framework was crucial to deliver on their promise of improved business service assurance and in-turn, customer satisfaction.
|Digital banking platform launches in time to address usage surge|
The Bank of the Philippine Islands partnered with Mobiquity - Hexaware's Customer Experience Transformation Service Line - to overhaul their online and mobile banking platform, delivering an MVP in just six months. That turned out to be a huge help to consumers who began to heavily rely on those channels during the coronavirus quarantine. Before the pandemic, 40 percent of the bank’s transactions were digital. This jumped to 90 percent when quarantines began.
|User-centric design to launch unique app-only trading platform for used hybrid cars|
Tangity, part of NTT DATA, teamed with Toyota Financial Services to create a smartphone app where users can buy and sell used hybrid cars without having to leave the house. The app handles all the bureaucracy related to the trade of a used car. With the onset of the pandemic, a strong foundation in user-centric design enabled the timely launch of the app in March 2021.
|Co-innovation during cloud adoption drives new products and revenue streams|
The clients of a mortgage technology company, in aggregate, represent around half of all US home mortgages. In pursuing a move to the cloud for their systems, Persistent Systems not only delivered on the objectives for that, but also identified an opportunity to create a highly valuable industry dataset that the mortgage technology company could now take to the market as new products.
|Smart automation and enterprise agility combine for strong ROI and societal impact|
As an incumbent partner to a large Canadian bank for the past seventeen years, Tech Mahindra stepped in to help them develop new smart automation solutions and processes to provide relief during the coronavirus quarantine. Their agile approach to building and rolling out new solutions helped the bank succeed at a time of crisis and uncertainty – by creating effective, automated processes to handle things like mortgage and credit card deferrals and relief payments within days.
|From branch to boundaryless – a digital transformation of financial services in India|
In their pursuit of growth, Muthoot was looking to expand its operations into thousands of cities and towns in India. Secure and robust IT systems were essential to support this growth. A six-year partnership between Muthoot and UST reduced the need of branch-based operations while improving data security and user experience. New branch provisioning time reduced from two months to two days as a result of a cloud-based architecture, and the fully digital operating model has led to vastly improved customer experience for the millions who depend on Muthoot’s financial services.
|Automated solution to reduce paperwork, manual efforts, and errors in closing mortgage accounts|
WNS teamed up with a financial services customer in the UK to automate the closing of mortgage accounts when the terms have been met or the account has been transferred. The solution replaces an important process bringing to it greater speed and accuracy, while also saving repetitive manual work – and consequently improving employee morale.