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Technological Challenges in Banking Operation

Technological Challenges in Banking Operation . Challenges Facing The Financial Services Industry. Globalization Consolidation The “Perfect Information Market” Increased Competition Regulatory Complexity Non-Traditional Players Rising Customer Expectations. Changing Business Environment.

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Technological Challenges in Banking Operation

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  1. Technological Challenges in Banking Operation

  2. © 2005 i-flex solutions ltd. All rights reserved.

  3. Challenges Facing The Financial Services Industry • Globalization • Consolidation • The “Perfect Information Market” • Increased Competition • Regulatory Complexity • Non-Traditional Players • Rising Customer Expectations © 2005 i-flex solutions ltd. All rights reserved.

  4. Changing Business Environment • Complex & highly inter-dependent products & services • Information consistency • Superior customer experience • Differentiated banking products • Multi-dimensional MIS & reporting © 2005 i-flex solutions ltd. All rights reserved.

  5. Grow top line Customer acquisition and retention Rapid development & deployment of new products Growth Responsiveness to rapidly changing market requirements Reduce overall risk exposure Compliance with all regulations Resilience Key Business Priorities for Financial Institutions Reduce operational costs Reduce IT maintenance costs Simplify business structures Efficiency © 2005 i-flex solutions ltd. All rights reserved.

  6. Drivers For Change – Leveraging Technologies • SOA – Service Oriented Architecture • BPM – Business Process Management • Centralized Distribution Channels • Data Integration & Management © 2005 i-flex solutions ltd. All rights reserved.

  7. Siloed approach & its consequence © 2005 i-flex solutions ltd. All rights reserved.

  8. SERVICE ORIENTED ARCHITECTURE Business Component Business Component Identity Identity Purpose Purpose Interfaces Interfaces SOA will boost Bank’s competitiveness Reduced time to market Lower cost for new product & service offerings Modularity of the underlying business Ability to deliver customer focused experience (consistency) Flexibility & Interoperability Simple and less expensive application maintenance Reduced operational risk Leveraged channel capabilities Incremental deployment © 2005 i-flex solutions ltd. All rights reserved.

  9. BUSINESS PROCESS MANAGEMENT Model, simulate, automate, execute, monitor, and optimize end-to-end business processes BUSINESS PROCESSES MANAGEMENT ACCOUNT OPENING Business Activity Monitoring CUSTOMER ACQUISITION Business Rules Engine Modeling & Simulation RISK MANAGEMENT LOAN ORIGINATION Workflow & Automation SERVICE ORIENTED ARCHITECTURE Core Banking Transaction Processing © 2005 i-flex solutions ltd. All rights reserved.

  10. Channel neutrality © 2005 i-flex solutions ltd. All rights reserved.

  11. Data Integration & Management © 2005 i-flex solutions ltd. All rights reserved.

  12. Data integration strategy.. CUSTOMER ANALYTICS RISK MANAGEMENT PROFITABILITY CRM CUSTOMERINSIGHTS BI BI BI BI Solutions Data Marts DM DM DM MART BUILDER DWH management META DATA DWH OPERATIONAL ANALYTICAL DATA DATA DWH creation DATA INTEGRATOR Legacy External C/S Core CRM FIN HR System System System Data Integration & Management © 2005 i-flex solutions ltd. All rights reserved.

  13. Thank You

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