Industry trends, viewpoints and thought leadership articles. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp In pursuit of fee based income avenues, banks across geographies have joined the Bancassurance bandwagon. Various business models have been implemented by banks to leverage the bancassurance opportunity. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#wealth The wealth management business is a significant revenue generator for banks and financial institutions today. Banks have progressed from being mere distributors, facilitating transactions in various mutual funds to performing an advisory role for their clients. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#wealth The decision to go in for a new treasury solution is a tricky one, particularly for mid-sized banks, as it is fraught with complexity. For big banks with operations spanning the entire treasury spectrum, from money markets to equities to credit derivatives, the logical option is a big-bang transformation with a full-fledged treasury solution, as a part of, or on top of their core banking application. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#treasury For financial inclusion to live up to its promise, the benefits of the country’s economic process must be shared with its unbanked masses. Inclusion must go the way of Internet and mobile banking to encompass a full gamut of financial and non-financial services including... http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#trends Banks need innovation to sustain in future. Corporate and retail banks are facing competition from new entrants and innovative business models. If that wasn't enough, shrinking margins and tighter regulatory requirements are adding to the pressure... http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#BI Innovation is a powerful weapon of differentiation for financial institutions. In recent years, banks have innovated on their products, processes and channel infrastructure to achieve multiple objectives such as raising operational efficiency... http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#BI Partner portals provide an excellent opportunity for banks to consolidate all their partners at one place. A well designed partner portal can extend the reach of a bank across borders and across products. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#trends Conventional CRM wisdom has it that, selling to an existing customer, is about six times cheaper than acquiring a new customer. This implies that revenue through cross or up sales would contribute much more to the bottom-line than the revenue through new acquisitions. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#cs The fact that customers have lots of choices before them makes it imperative that banks keep innovating and bring in perceptible value to their customers. Packaging of products and services has the potential to emerge as the next big thing for banks that are looking for innovative marketing and positioning of their products. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#trends Technology is indeed a great leveler. The commoditization of banking services is living proof: banks that have shifted from legacy to modern core banking systems are pretty much on equal footing in terms of the products, services and experience they offer. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#ct U.S. banks, collectively holding over US $7 trillion in deposit accounts, are highly reliant on their DDA technology frameworks. These solutions must be able to keep pace with the evolution of deposit accounts in terms of number, size, variety and complexity. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#bt Banking customers' demands have kept pace with the rising complexity of their needs. They expect banks to address their individual requirements with relevant products and services. This implies that banking institutions must acquire a deeper understanding of their customers at a one-to-one level, and deploy that insight into product and service innovation. Customer segmentation is central to this objective. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#trends Businesses basking in the security of satisfied customers have to think again. There’s a world of difference between truly loyal customers and those that are merely satisfied. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#cs As banks in the U.S. and elsewhere plot their strategies for a future in the new world order, they can draw upon lessons learned from the past. Going forward, it will serve them well to leverage business insight to the fullest, to create a more efficient and stronger organization. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#trends For the banking industry, which finds itself in the eye of the storm, the need to raise efficiency has perhaps never been more crucial. Although cost cutting is the first thing that comes to mind, impulsive slashing of expenditure across the board could actually do more harm than good. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#bt Banks may derive both quantitative and qualitative benefits by upgrading their CRM system with Social CRM. On the quantitative side there are benefits of cost reduction. There is a benefit of reduced capital cost by owning less capacity database. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#crm Web 2.0 is changing the way we interact online. Web 2.0 tools like Wikis, blogs, surveys, ratings, polls, widgets and social networking are being widely used across industry verticals for improving customer loyalty and thus business. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#ebanking Canadian banks are faced with the unique challenge of having to serve a customer base that moves location for a large part of the year. Their clients are also among the most diverse in the world. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#cs The implementation of a new universal banking solution is invariably accompanied by a change in banking processes, which is necessary to deliver the benefits expected of the transformation. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#cs Banks must launch a strong drive to create a risk-oriented culture, in which there is shared awareness across the enterprise about risk exposure and suitable defense measures. Core banking systems built on open standards can add teeth to banks’ risk management capability but providing enterprise-wide, comprehensive, “single version of the truth” data... http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#bt The pursuit of pro-diversity and inclusive policies in banking is no longer a mere public relations exercise. The influence of the visible minority in Canada is on the rise; therefore, no business model can stand without catering to the needs of this important segment. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#bt Royal Bank of Canada has shown the way by taking a highly customer-specific approach in their business. They used intense statistical analysis to understand customer potential and growth prospects to ultimately arrive at their “lifetime value”... http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#cs The ability of banking institutions to respond swiftly to change becomes all the more important during times of upheaval. Banks are continuously subject to change-bearing forces that could originate in the economic, regulatory, market or technological environment. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#bt About 75 percent of American banking customers surveyed during an October 2008 study reported using online banking to keep track of their expenses. Not surprisingly, a similar number confirmed that they were watching their finances more closely during the current economic downturn. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#trends Running a bank in these trying times is likely to be one of the most challenging jobs one can have. With the stalling economy, south-bound markets, tight credit, and massive cross-sector job losses, there just does not seem to be enough money, demand and hope to go around. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#bt Banks worldwide are facing a crisis of confidence. According to a nationally representative survey in the US, less than half the customers had confidence in the financial security of banks – not a faith-inspiring number when you consider the fact that this survey was conducted a week before the Lehman Brothers filed for bankruptcy. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#bt As banks strive to satisfy customers and stave off competitors in these unsettled times, those with legacy systems and processes may be faced with the inevitability of undertaking the transformation journey. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#bt In a recent global benchmarking study, respondents from banks located in 15 countries rated management of customer experience as the single largest factor for success, yet admitted that their performance in this area left more to be desired. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#bt It’s rough sailing for financial service providers in the wake of the enormous global turmoil. Hallowed institutions crumbled in a matter of days, and those that are still standing are scrambling to survive. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#bt Core transformation enhances a bank’s business prowess by empowering it with flexibility and scalability, ease of IT management and an enhanced customer experience. It lowers costs and makes the business future-ready by laying a solid foundation for effective opportunity management in a changed environment and driving growth. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#bt Banking innovation is subject to closer scrutiny during tough times when there are larger hopes pinned on favorable outcomes, and greater concerns regarding resource utilization. Arguably, service and product innovation are at the forefront of most change-bearing initiatives. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#trends Relationship managers at banks are going through a tough phase in their career. They have the seemingly impossible task of retaining clients who are becoming increasingly jittery in the face of steady asset erosion. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#trends Web 2.0 has already made a huge impact on human interaction. Now, it is up to individual banks to craft creative strategies that will help them make the most out of Social Networking, Social Commerce and Social Media opportunities. Recognizing the potential of this technology... http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#trends Emerging regulations across Europe and North America governing telecommunications and network services will impact the online delivery of services by most industries, including banking. In particular, banks will have to adapt their mobile... and Internet banking offerings in a bid to fulfill a dual objective – comply with the new directives as well as leverage opportunities presented by them. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#ct Although the world is going through economic pain, there is also emerging from this turmoil, new and innovative means of addressing business challenges. A case in point is the surfacing of truly enabling technology-led strategies, in response to the evolving business climate. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#ct Today's banking customers are faced with a problem of plenty. They are pursued by a number of competing financial institutions, all of them fighting for share of wallet. The decision process is further confounded by the variety of products on offer. Customers must choose between products that are largely similar, but subtly different. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#ebanking Banks will do well to partner with an Internet banking solution provider which has not only the expertise to translate their vision into a cutting edge e-banking experience for the user, but also the foresight to define boundaries for safety. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#ebanking A slew of shotgun weddings are being consummated between banks in the aftermath of the global meltdown. Wells Fargo has bought Wachovia, JPMorgan Chase got its teeth into Washington Mutual.... http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#trends Catalyzed by the growth of the domestic economy, the banking sector in India has truly come of age. But with the current slowdown and fears of a global recession, the Indian economy and the banking sector have been looking for new avenues of growth.... http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#retail Buffeted by the rough winds of the continuing crisis of confidence and the dismal economic scenario, banks cannot afford to operate as they did during days when credit, cash and confidence were readily available and customers were relatively happy. Nor can they freeze the organization, and keep from innovating and launching new products, thus slipping on retaining and gaining customers. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#bt A corporate action is any event that results in a material change to a company and affects its stakeholders. The ranks of stakeholders include shareholders, both common and preferred, as well as bondholders. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#corporate Deals in the corporate and investment banking world are significantly different from retail lending. With corporate houses getting a flurry of offers from several banks, deal structures, rates and fees are negotiated. http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#corporate Silo-based IT systems create operational complexity and redundancy that can increase costs and diminish the bank’s ability to respond to change. Banks can no longer ignore the fact that a unified... http://www.infosys.com/Finacle/solutions/thoughtpapers.asp#ibp As customers interact with their banks over a variety of channels, they demand a consistent and rich experience, regardless of the channel. http://www.infosys.com/finacle/solutions/thoughtpapers.asp#mci In the recent past banks were esoteric institutions that acted as custodians of cash and handed out loans. Today they have been transformed into dynamic, multichannel organizations... http://www.infosys.com/finacle/solutions/thoughtpapers.asp#getmore Core banking replacement has for quite some time been considered fraught with high risks. The costs are potentially bordering on the prohibitive and many still believe that their present in-house systems are satisfactorily serving the purpose. http://www.infosys.com/finacle/solutions/thoughtpapers.asp#cbreplacements The Internet banking model was originally built with a view to merely replace identified brick mortar services and provide an online means of reaching out to the bank. http://www.infosys.com/finacle/solutions/thoughtpapers.asp#internetbanking Islamic banks are on the threshold of a historic opportunity. Oil prices are rising; the banks are flush with funds and are driving growth on the back of strong recent performances. http://www.infosys.com/finacle/solutions/thoughtpapers.asp#faith Unlike conventional banks, Islamic banks share business risks with investors and borrowers.The fundamental difference between conventional and Islamic banking, from a risk perspective, is in the nature of risk sharing. http://www.infosys.com/finacle/solutions/thoughtpapers.asp#risk Driven by forces that are often beyond their control, the banking industry in general and retail banking in particular are undergoing a major transformation. http://www.infosys.com/finacle/solutions/thoughtpapers.asp#future The Latin American banking market is changing rapidly. From the mid-1990s, American and Spanish banks have led a foreign invasion, radically changing the banking landscape. http://www.infosys.com/finacle/solutions/thoughtpapers.asp#eld There is a billion-strong globally distributed market actively seeking financial services which remain largely unattended to. These prospective customers... http://www.infosys.com/finacle/solutions/thoughtpapers.asp#billion Managing customers is of prime importance and this realization has placed customer management at the core of all other strategies that are being devised by banks. http://www.infosys.com/finacle/solutions/thoughtpapers.asp#Customer-Cause Globalization, demographics, technology and regulation – these factors have made the world a flatter place. Banks need to achieve a shift in their strategic and operational priorities and this can only be done... http://www.infosys.com/finacle/solutions/thoughtpapers.asp#transforming The changing dynamics of business is bringing about a paradigm shift in the way organizations ensure reliability, security and predictable performance of their IT solutions. http://www.infosys.com/finacle/solutions/thoughtpapers.asp#tech The ever growing internet is finding its foothold in the banking industry as retail customers are quickly coming to realize the advantages and benefits. It is not surprising that banks and their corporate customers have begun jointly... http://www.infosys.com/finacle/solutions/thoughtpapers.asp#webbased