Industry Session on Banking & Financial Services

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The BFS industry track touched upon analyze and digitize as themes. Included "Achieving Data Leadership & Deeper Timely Insights" and "mPayments" as two areas for customer talks, points of view and panel discussions. Chaired by M.V. Ramana Murthy, VP & Head, BFS, TCS

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  • Track chaired by M.V. Ramana Murthy, VP & Head, BFS, TCS
  • What is the elusive secret sauce for success in mobile payments?Kumar Rao,Head of Cards & Payments, TCS
  • Trending themes in Payments –Increasing no of Cards per cardholder  6-9Decreasing value of average txn valueIncreasing volume of M-payment txnsGradual NFC enablement of POS terminalsHigh mobile phone/smart phone penetration
  • Review and update innovations, trends, use cases, technology evolution relevant to digital payments and map to both axes
  • Developed marketsComplimentary to the traditional payment systems.Flexibility, Ubiquity and Convenience.Enabler for wide range of M-Commerce Services. m-ticketing, m-retail, m-banking .Suitability for any payment amount levels.Payment systems linked to individual Bank Accounts.Markets reflect technology orientation.Driven by the industry.Emerging MarketsLack of alternative solutions. Accessibility and affordability. Limited micro payments. Concept of E-Money is very popular. Micro-Financing. Driven by MNOs.
  • Achieving Data Leadership & Deeper Timely Insights . K Arumugam,Head of Big Data & Analytics Practice-BFS, TCS
  • Industry Session on Banking & Financial Services

    1. 1. Relevant Global Trends Consumer Behavior/Expectations Payments at a Cusp of Innovation Regulatory Landscape Globalisation / Global Standards Competitive Pressures/Threats Evolving Financial Crime B2B Demands  Shift to Debit, Decline in Check, Cash  Value Conscious, Need for convenience  Service Expectations, Instant handling  Recognition, Personalisation, Control  Mobile/NFC, Social Network, Location Intelligence  Diverse form factors, Ubiquitous access  Micro-payments, Virtual currencies, Prepaid cards  Financial Supply Chain Management  Promoting efficiency & competition  Consumer protection , Transparency, Portability  Interchange and Pricing regulations  Data and Reporting standards  Demand for cross border payments  Regional ACH systems  Global message & security standards  International Payments Framework  Alternate Payment Services  Third party bill payment, mobile & P2P schemes  Entry of non-traditional players (Retail, Telecom)  Commoditization, Reducing barriers to switching  Ease of doing business, Seamless Integration  Improving Efficiencies and Service  Real-time, faster bulk payments  Complete information with payments  Emerging technology risks  Data and Identity theft opportunities  Fraud rings, Increasing cross-border activity  Money laundering, Stringent AML regulations 1 3 4 6 7 2 5 Strategic Response Themes Analytics & Insights/ Big Data Channels & Form Factors Enterprise Fraud and Risk Systems Global Message Standards Partner Ecosystem Customer Loyalty and Retention Open API/ Software Platforms Enterprise Risk and Compliance Tokenization & Encryption Payments Hub Cloud Services New CSMs/ Payment Schemes B2B Integration Information based Services Analytics for Test & Learn Risk & Fraud Analytics Behaviour based Authentication Faster Payments Canonical Data Models Insight driven Service Excellence Straight Through Processing
    2. 2. Mobile Devices purchases will exceed $1 Trillion by 2017 Just above 2.5% of worldwide commerce theoretically addressable by mobile payments Source IDC Financial Insights 1 32
    3. 3. • Cloud Services • E-Wallets • Proxy Payment • Bill Payments • Mobile POS • M-RDC • Contextual Offers • 2D Barcodes for payments • Open APIs and Software Platforms • NFC based payments • Open Mobile Wallet • Offer redemption at POS • Location Aware Applications • PFM across Banks • Spend Advisor for best payment • Closed Loop Mobile Wallets • QR / Color Code • Carrier Billing • Social Share of Card linked Offers and purchase experience • Dynamic Card • Alternate Digital Currency • Enhanced Authentication / Biometrics • Speech Recognition • Wearable device authentication Time Horizon Adoption
    4. 4. • • • • • • • • • • • •  •  •  •  • • • • • • • • Value added services that enhance the experience and deliver benefits to the end user before, during and after the payment activity will be key to driving mobile payment adoption
    5. 5. m-Commerce Payment Physical POS Payment e-Commerce Payment Remote P2P Payment Credentials stored on : Cloud Device 1.0 1.5 1.5 1.5 Empty Hand Card Card Card
    6. 6. • • • • • • • • • • •
    7. 7. Global Head of Mobile Strategy, Products and Programs, Citi Global Consumer Technology Head of Cards and Payments, TCS
    8. 8. • • • • • • • • • • Complement existing Enterprise Data Warehouse Data Transformation Platform, ETL -> EL-T Warm Data Archival Digital Asset Management Customer Acquisition & Retention Regulatory & Compliance Risk & Finance
    9. 9. Source: www.tcs.com/BigDataStudy
    10. 10. Source: www.tcs.com/BigDataStudy
    11. 11. Source: www.tcs.com/BigDataStudy
    12. 12.  Micro Segmentation  Campaign Management  Next Best Action  Increase wallet Share  Customer Sentiment  Brand /Product Sentiment  Loyalty Management  Channel Strategy Churn Prediction  Product Customization
    13. 13. Chief Information Officer, Equifax Head of Big Data and Analytics Practice for BFS, TCS

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