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Expert opinions

Amit Sinha

Amit Sinha Consulting Partner, BFSI Technology Advisory Group at TCS

Cloud Portability in BFSI: Need, Challenges and Best Practices

Cloud Portability: A Necessity for BFSI Firms In today's rapidly evolving digital landscape, cloud computing has become the cornerstone of IT infrastructure for many organizations, including those in the Banking, Financial Services, and Insurance (BFSI) sector. Cloud offers numerous advantages, such as scalability, cost-effectiveness, and enhanced...

/cloud /predictions

Vinayak Tendulkar

Vinayak Tendulkar Ent. Architect - BFSI Technology Transformation at TCS

FinOps 2.0 in BFSI Cloud landscape

Introduction The IT landscape within the Banking, Financial Services, and Insurance (BFSI) sector has undergone significant changes driven by various technological advancements, including technology modernization, cloud adoption, and digital transformation. With the rising adoption of cloud technologies by organizations and their extensive use acr...

/cloud /predictions

Jitender Balhara

Jitender Balhara Manager at TCS

FinOps : Harnessing Cloud Infrastructure with optimized balance sheets

FinOps: Introduction The rise of adoption in the public cloud has significantly disrupted traditional, capital-intensive, and slow-moving infrastructure procurement processes. With the public cloud, the responsibility for procurement has shifted to engineering teams, granting them the autonomy to spend company funds and make financial decisions r...

/cloud /devops Banking Strategy, Digital and Transformation

Sonali Patil

Sonali Patil Cloud Solution Architect at TCS

Deriving Solution Choices for Mainframe Modernization on AWS Cloud

Introduction Today’s organizations are adopting cloud and distributed architecture which will support digital innovation, technology advancements, cost optimization & meet enterprise global standards. Mainframes have been globally used by many organizations such as financial institutions, healthcare organizations, government agencies, retail b...

/wholesale /cloud BFSICloudMigration

Robin Southall

Robin Southall Director of Customer Engagement at Lakeside Software

Future-proofing finance: building a Proactive IT organisation for resilient operations

Building IT resilience is a non-negotiable priority for the financial sector, especially with regulations such as the DORA (Digital Operational Resilience Act) that require institutions to withstand, recover from, and adapt to operational disruptions while maintaining service continuity. In today’s AI-driven digital landscape, increasing cyber thr...

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Trending

Amit Sinha

Amit Sinha Consulting Partner, BFSI Technology Advisory Group at TCS

Cloud Portability in BFSI: Need, Challenges and Best Practices

Vinayak Tendulkar

Vinayak Tendulkar Ent. Architect - BFSI Technology Transformation at TCS

FinOps 2.0 in BFSI Cloud landscape

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Research

Impact Study

Catering to a new generation through unified card programmes

How Gen Z is changing the payments landscape, why operational costs are soaring, and how a unified card programme can help financial institutions to unlock a competitive advantage and drive growth. Globalisation continues to shape the market as money moves between banks, businesses and even countries quicker and in higher numbers than ever before. Both debit and credit cards remain vital in today’s payment experience but changing consumer demands and the surging popularity of neobanks leave traditional banks fighting for top-of-wallet status.  On one hand, traditional banks are battling surging operational costs. From a functionality point of view, the world is getting smaller. Today, there is not much perceived difference to the consumer between debit cards, credit cards, and prepaid cards. Yet behind the scenes, many banks run each of these products in different platforms and set-ups, each racking up its own costs.  Add to this mix services like personal loans/buy now, pay later (BNPL) schemes and increasing regulatory demands, you have created the perfect storm: Having to bolt on a new, disparate system every time the services are extended – which costs time, money, and adds high regulatory burden.  On the other hand, the consumer expectations of a new generations are shaping the market. Gen Z’s preference for digital, seamless payment methods is changing the financial landscape and traditional banks need to adapt their service offerings in order to match these new demands.  This impact study, produced in association with FIS, explores:  Increasing cost pressures: Why operational costs are soaring  How a new generation is shaping the payments landscape  Tackling change: The benefits of a unified card programme  Case studies: A practical approach to change    Watch the on-demand Finextra webinar with FIS - Unifying card programmes: The cost-reduction imperative  

117 downloads

Impact Study

2024 Fraud Trends in Banking, Insurance, and Beyond

How generative AI is boosting fraud protection in an increasingly complex environment. As technology progresses, so do the capabilities of institutions to secure data and systems. Over 2024, the fraud landscape has been complex, and organisations must push the boundaries of innovation while maintaining a high security bar as the availability and democratisation of AI increases as we're going into 2025. The tidal wave of incoming regulation in the financial sector is an aspect that will help banking and insurance companies to safeguard their customers and data in the best way possible. Yet regulation alone does not address fraud – it’s up to individual organisations to leverage the potential of technology, and review their solutions, processes, and thus ensure compliance and safety. As fraud and regulation increase in the space, technology is one of the key factors that will help banks and insurance companies to address these increased fraud risks. Generative AI enables organisations to deliver hyper-personalised customer experiences, and combining these capabilities with carrier network insights can not only help them significantly reduce authentication fraud, but also ensure regulatory compliance. This impact study, produced in association with AWS and Vonage, examines the current fraud landscape across financial services, banking, and insurance, highlighting how generative AI and network APIs can help prevent fraud while enhancing the customer experience. Explore: Fraud trends in 2024 The impact of regulation Why data is the new gold How organisations can innovate with generative AI Best practices

362 downloads

Event Report

Managing Fraud Risks with Synthetic Data

A Practical Approach for Businesses Services Industry The financial services sector is in a constant state of evolution, and so too are the challenges it faces, particularly in the realm of financial crime. This mounting issue has become a significant concern for institutions, customers and regulators alike. The key to addressing this lies in our approach to data - its quality, management, and applications. Harnessing the power of synthetic data and AI tools has become a pivotal factor in business transformation, particularly in addressing the issue of financial crime. The ability to streamline operations and enhance efficiency is a major challenge businesses face, but the introduction of synthetic data offers promising solutions. Synthetic data provides a comprehensive view of all types of crime, a feature that is crucial for global banks often grappling with segmented fraud activity. This broader perspective enhances the institutions’ capability to effectively fight financial crime. This report summarises the discussion had during a Finextra webinar, hosted in association with Red Hat, and explores: The role of synthetic data in combatting financial crime Implications of new regulation How synthetic data enhances crime detection A practical apprach for managing fraud risk  

268 downloads

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FinextraTV

Can Every Product Be Climate Positive?

Richard Peers, founder of Responsible Risk, interviews Erik Stadigh, Co-Founder and CEO of Lune, winner of the EBAday 2024 FinTech Zone award, ahead of Sustainable Finance.Live 2024. They explore how corporate sustainability can be simplified by automating carbon emissions reporting through APIs and hosted solutions. With the goal of making every product and service climate-positive by integrating granular emissions calculations and carbon projects into bank and fintech offerings, we ask: can businesses truly decarbonise efficiently without relying on costly consultants or new tools? As greener decisions are made with minimal effort, the future may see every company becoming a climate company through seamless integration of climate data.

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Long reads

Hamish Monk

Hamish Monk Senior Reporter at Finextra

How to pick a SaaS solution

Software-as-a-service, or SaaS, delivers software and applications over the internet, via a subscription model. It is one of the three constituents of cloud computing – along with infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) – and has revolutionised business operations; mushrooming from its market valuation of $237 billion i...

Hamish Monk

Hamish Monk Senior Reporter at Finextra

What is hybrid cloud?

Hybrid cloud is a computer programming architecture used by IT teams to reap the benefits of both the private and public hosting environments. These work in tandem to run an organisation’s workload and applications. Uses of hybrid cloud An example of a firm within the financial services industry which might find use for the hybrid cloud environm...

Hamish Monk

Hamish Monk Senior Reporter at Finextra

Understanding SaaS

Software-as-a-service, often contracted to ‘SaaS’, benefits consumers and businesses around the world daily. As one of the three constituents of cloud computing – infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) being the other two – SaaS, delivers software and applications over the internet, via a subscription model. This, in ...