© 2013 WIPRO LTD | WWW.WIPRO.COM1
Technology Opens New
Doors of Growth for
Financial Institutions
Knowledge@Wharton- Wipro...
© 2013 WIPRO LTD | WWW.WIPRO.COM2
In a Tough Business Environment,
Technology Opens New Doors of
Growth for Financial Inst...
© 2013 WIPRO LTD | WWW.WIPRO.COM3
Meeting demands of the new-normal
Change the cost
curve through
business and
process
sim...
© 2013 WIPRO LTD | WWW.WIPRO.COM4
Managing tightening regulation
Technology enabled
variabilization or pay per use
process...
© 2013 WIPRO LTD | WWW.WIPRO.COM5
Tapping under-served markets
The top six banks account for 70% to
75% of the total IT sp...
© 2013 WIPRO LTD | WWW.WIPRO.COM6
Making new geographies work
 Technology providers can help financial institutions set u...
© 2013 WIPRO LTD | WWW.WIPRO.COM7
Re-engaging consumers with technology
Trust and simplicity are critical for financial in...
© 2013 WIPRO LTD | WWW.WIPRO.COM8
Analytics for better understanding
Data analytics can help banks boost performance,
unde...
© 2013 WIPRO LTD | WWW.WIPRO.COM9
Conclusion
While technology promises gains on many fronts, financial institutions
and re...
© 2013 WIPRO LTD | WWW.WIPRO.COM10
For more details please visit the link below:
http://www.wipro.com/insights/academia-co...
© 2013 WIPRO LTD | WWW.WIPRO.COM11
Knowledge@Wharton is the online business analysis journal of the
Wharton School of the ...
© 2013 WIPRO LTD | WWW.WIPRO.COM12
About Wipro Ltd.
Wipro Ltd. (NYSE:WIT) is a leading Information
Technology, Consulting ...
© 2013 WIPRO LTD | WWW.WIPRO.COM13
Thank You
©Wipro Limited, 2013. All rights reserved.
For more information visit www.wip...
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Technology Opens New Doors of Growth for Financial Institutions

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Financial institutions are still recuperating from tighter regulations and customers continue to be wary. Technology has the potential to win back consumer trust and deepen those relationships using business analytics, social and mobility platforms

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Technology Opens New Doors of Growth for Financial Institutions

  1. 1. © 2013 WIPRO LTD | WWW.WIPRO.COM1 Technology Opens New Doors of Growth for Financial Institutions Knowledge@Wharton- Wipro Future of Industry Series: Financial Services
  2. 2. © 2013 WIPRO LTD | WWW.WIPRO.COM2 In a Tough Business Environment, Technology Opens New Doors of Growth for Financial Institutions Knowledge@Wharton-Wipro Future of Industry Series: Financial Services • Financial institutions are still recuperating from tighter regulations and customers continue to be wary • Technology has the potential to win back consumer trust and deepen those relationships using business analytics, social and mobility platforms
  3. 3. © 2013 WIPRO LTD | WWW.WIPRO.COM3 Meeting demands of the new-normal Change the cost curve through business and process simplification Rethink how technology can help them deliver a better customer experience across channels and markets Rebuild customer trust, by being best in class in whatever segment or geography Invest in analytics to not only respond to risk but also understand the new “digital customer” and use the insights to make better business decisions All these have to be achieved in a tightening regulatory environment where there is still a lot of catching up to do on risk management and compliance THE STEPS
  4. 4. © 2013 WIPRO LTD | WWW.WIPRO.COM4 Managing tightening regulation Technology enabled variabilization or pay per use processes IT Infrastructure Management Regulations are not a bane- they promote stability, strengthen consumer protection and increase transparency Technology enabled process frameworks to comply with regulation Technology can help banks restructure their balance sheets and corporate governance processes to comply with emerging regulations
  5. 5. © 2013 WIPRO LTD | WWW.WIPRO.COM5 Tapping under-served markets The top six banks account for 70% to 75% of the total IT spending, most service providers gravitate towards them, says Ghosh. However, the IT spending of the Tier-2 or Tier-3 U.S. banks are also significant, but this market remains relatively untapped Large banks could also use technology to create a unified process covering investment banking, asset management and asset servicing, where many processes are typically duplicated Variabilization offers technology providers an opportunity to serve smaller banks
  6. 6. © 2013 WIPRO LTD | WWW.WIPRO.COM6 Making new geographies work  Technology providers can help financial institutions set up their infrastructure on a turnkey basis in a new location.  While the bank focuses on sales, marketing and business development, its IT services vendor runs back-office operations “One big lesson” from the recent economic downturn was that most U.S. banks and insurance companies were overly dependent on mature markets; says Soumitro Ghosh, SVP, Finance solutions at Wipro Technologies
  7. 7. © 2013 WIPRO LTD | WWW.WIPRO.COM7 Re-engaging consumers with technology Trust and simplicity are critical for financial institutions to recapture lost customer loyalties and deepen those relationships Technology such as data analytics can help achieve a deeper understanding of customer sentiments IT can also be used as a competitive tool that promises either security or financial freedom Mobile platforms will be crucial for providing differentiated services- a key requirement though is localization Social platforms also help banks acquire new customers and sell more products to existing customers – though building trust first, is more important
  8. 8. © 2013 WIPRO LTD | WWW.WIPRO.COM8 Analytics for better understanding Data analytics can help banks boost performance, understand customers & risks better Provides a single customer view Understand customer preferences better Improves risk management and fraud prevention Improves efficiency by providing better visibility of outcomes Pricing gets more efficient
  9. 9. © 2013 WIPRO LTD | WWW.WIPRO.COM9 Conclusion While technology promises gains on many fronts, financial institutions and regulators have to be cautious and invest more in capturing data on customer behavior and their operations. At the same time they should also integrate risk and fraud management in meeting compliance requirements
  10. 10. © 2013 WIPRO LTD | WWW.WIPRO.COM10 For more details please visit the link below: http://www.wipro.com/insights/academia-collaboration/wipro- FOI-K@W-series/in-a-tough-business-environment-technology- opens-new-doors-of-growth-for-financial-institutions
  11. 11. © 2013 WIPRO LTD | WWW.WIPRO.COM11 Knowledge@Wharton is the online business analysis journal of the Wharton School of the University of Pennsylvania. The site, which is free, captures relevant knowledge generated at Wharton and beyond by offering articles and videos based on research, conferences, speakers, books and interviews with faculty and other experts on current business topics. The Knowledge@Wharton network — including Chinese, Spanish, Portuguese, Indian, Arabic, Israeli and High School editions — has more than 2.1 million subscribers worldwide. For more information: http://knowledge.wharton.upenn.edu About Knowledge@Wharton
  12. 12. © 2013 WIPRO LTD | WWW.WIPRO.COM12 About Wipro Ltd. 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
  13. 13. © 2013 WIPRO LTD | WWW.WIPRO.COM13 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.

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