Enhancing Competitiveness in Banking for Emerging Markets
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Increasing competition among banks in emerging markets requires local banks to launch products that conform to international practices, while simultaneously satisfying the demands of the emerging ...

Increasing competition among banks in emerging markets requires local banks to launch products that conform to international practices, while simultaneously satisfying the demands of the emerging market customers.

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Enhancing Competitiveness in Banking for Emerging Markets Presentation Transcript

  • 1. Enhancing Competitiveness in Banking for Emerging Markets 1 © 2013 WIPRO LTD | WWW.WIPRO.COM
  • 2. HIGHLIGHTS Enhancing Competitiveness in Banking for Emerging Markets Increasing competition among banks in emerging markets requires local banks to launch products that conform to international practices, while simultaneously satisfying the demands of the emerging market customers. This paper outlines a framework that offers banks a rapidly deployable solution that incorporates best banking practices, processes and standards, providing them with speed-to-market, flexibility and reliability 2 © 2013 WIPRO LTD | WWW.WIPRO.COM
  • 3. Challenges faced by banks in emerging markets Over the next ten years, an estimated 60 percent of the growth in global banking revenues will come from emerging markets. A large part of the these markets are unbanked, and demands are growing more vehement by the day. The challenges are set to only get fiercer Increasingly demanding customer expectations Demand for innovative products Chasing too few consumers Meeting and delivering higher service levels Competition from peers & governmentowned banks Especially in social media and mobility, Loyalty is falling and customers find it easy to switch accounts Customers expect their banks to achieve granular customer segmentation, to recognize their individual needs and offer custom-made solutions De-regulation and growing opportunities in the emerging markets have resulted in too many banks Customers are also demanding fast and error-free transaction processing. Time, cost and convenience are paramount Emerging markets have nationalized banks with vast branch networks and lower borrowing costs, which must now compete with nimbler new private banks 3 © 2013 WIPRO LTD | WWW.WIPRO.COM
  • 4. How can banks remain competitive? Banks need to differentiate themselves with focus on IT as the enabler for business and improve technology integration to facilitate better business decisions Inculcating the habit of higher operational efficiency Exploring new sources of revenue Not just reducing expenses, but generating more revenue per unit of Cost leading to lower Total Cost of Ownership for assets Optimizing product offerings, service pricing, new products and services, new markets or expanding, and enhancing sales effectiveness 4 Following an approach that offers scalability and agility Rationalizing legacy systems, using efficient computing platforms, utilizing Service-Oriented Architecture (SOA), instituting automation tools © 2013 WIPRO LTD | WWW.WIPRO.COM Innovating and shortening time-tomarket & Monitoring Controls Implementing enterprise-wide process standardization, agile methodology, exploring Big Data, and analytics to understand customer behavior Putting in place and continuously monitoring controls and checks to ensure strong risk management, governance and compliance to regulations and laws
  • 5. Implementation framework of banking technology solutions An integrated implementation framework of banking technology solutions plays a vital role to allow the bank to hit the ground running, and begin operations as soon as possible INTEGRATED IMPLEMENTATION FRAMEWORK OF BANKING TECHNOLOGY SOLUTIONS A secure framework and easily deployable set of technology products, tailor made solutions and processes, riding on a robust and powerful architectural platform, with the ability to perform 24×7×365 5 © 2013 WIPRO LTD | WWW.WIPRO.COM
  • 6. Benefits of the framework • • Adoption of industry practices right from Day 1 • Ability to deliver diverse products and services to customers right from the start • Availability of state-of-the-art infrastructure • 6 Reduced staffing requirements and timelines of delivery Completely integrated and pan-enterprise approach for solutions and services right from the beginning © 2013 WIPRO LTD | WWW.WIPRO.COM
  • 7. Conclusion The increasing competition among banks in the emerging markets requires local banks to quickly launch products that conform to international practices and regulations, while simultaneously satisfying the demands of the emerging market customers. The recommended framework in this paper provides banks with a rapidly deployable solution that incorporates best banking practices, processes and standards, thus providing them with the ultimate speed-to-market, flexibility and reliability. 7 © 2013 WIPRO LTD | WWW.WIPRO.COM
  • 8. For more details please visit the link below: http://www.wipro.com/Documents/enhancing-competitivenessin-banking-for-emerging-markets.pdf 8 © 2013 WIPRO LTD | WWW.WIPRO.COM
  • 9. About Wipro Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of “Business through Technology” - helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner’s approach to delivering innovation and an organization wide commitment to sustainability, Wipro has a workforce of 140,000 serving clients across 57 countries. For more information, please visit www.wipro.com. For more information, please visit www.wipro.com 9 © 2013 WIPRO LTD | WWW.WIPRO.COM
  • 10. Thank You ©Wipro Limited, 2013. All rights reserved. For more information visit www.wipro.com No part of this document may be reproduced in whole or in part without the written permission of the authors. Wipro is not liable for any business outcome based on the views presented in this document. For specific implementation clients should take advise from their client engagement manager. 10 © 2013 WIPRO LTD | WWW.WIPRO.COM