Consumer Banking
Can you tailor an analytics solution that can help us achieve a better cross-sell rate?
Do you have a solution that can help leverage social media while maintaining regulatory compliance?
Can you help us navigate and stay current with regulatory requirements in mortgage?
Do you have a solution that will enable us to inform consumers about new offers on their mobile phones?
Can you help us gain an edge in online banking and increase customer engagement?
The answers are "Yes" — our dedicated Consumer Banking Practice has the right domain expertise and point solutions to address the industry's key business drivers and strategic imperatives. We blend strategy, implementation and support for diverse industry players across the sales, fulfillment and service value chain. Our offerings have delivered business value for many of our clients which include six of the top eight U.S. banks, four of the top six European banks, five of the top six credit card issuers, and five of the top six mortgage originators — helping them transform, innovate and optimize towards Building Tomorrow's Enterprise, today.
Challenges & Opportunities
Increased regulation: Regulations like Dodd-Frank, War on Losses, Credit Card Act and RESPA pose significant long- and short-term implications for the way banks operate. The priority is finding technology solutions that aid reform implementation. The opportunity lies in creating innovative business models to offset impact and enhance revenues.
Changing customer behavior and preferences: "Save more, spend less, pay debts." That's the mantra for consumers today. With their satisfaction levels on the decline, banks need to understand the "what, where and why" of how they spend. That's where analytics will play a key role — to enhance marketing effectiveness, determine profitability and aid pricing decisions.
Reduced revenue streams: Impacted by increased regulations, changing consumer behavior and disruptive innovations, banks are losing a significant proportion of their pre-recession revenue. Analytics and innovation will help banks identify new engagement models with consumers and help create new revenue opportunities.
Keeping pace with innovation in new channels: Consumers expect banks to provide seamless and connected experiences across all channels. Additionally, advances in online banking and the evolution of mobile banking are defining a new channel strategy.
How Infosys Delivers Business Value
Infosys has demonstrated thought leadership across the consumer banking value chain backed by a strong stable of strategic and executional capabilities:
- Ideating, defining and executing transformational programs in the online banking space
- Helping clients innovate in mobile banking
- Partnering with clients in addressing mortgage business and regulatory challenges and opportunities
- Developing banking analytics tools and solutions that are helping clients better manage their regulatory and cross-sell needs
- Leveraging a strong track record of optimizing operations across consumer banking technology platforms
- Building functionalities across multiple channels: implementing Infosys’ mBrochure point solution to render content across diverse devices
We bring together a multi-functional team of 1,700 professionals, who are experienced in large and complex engagements across multiple products, technologies and markets. When clients partner with us, they benefit from our ability to quickly tailor solutions on leading-industry products, while reducing the cost of implementation. Our experience spans supporting and integrating industry-relevant products in areas like core banking; online and other banking channels; analytics; content management; mortgage and retail lending origination and servicing platforms like S1, Fiserv - Corillian, FIS - Profile, SAS, FICO Blaze Advisor, SunTec - TBMS-F, IBM - LOS, FDR - LoanServ, Fidelity - MSP, UNICA, SDL - Tridion, Documentum, Vignette, and Autonomy. Our focus areas:
Business Transformation: Our Practice comprises Centers of Excellence for Mortgage, Online Banking, Mobility, and Analytics; backed by deep expertise in consumer lending, deposits and channels. These Centers specialize in process flows to streamline product development and house certified domain consultants who understand the evolving intricacies of the consumer banking space. Our key offerings include transformational programs in channels (including online), mortgage and consumer lending, and core banking.
Accelerating Innovation: We can help you capitalize on opportunities in social media and mobility with solutions such as Infosys SocialEdge™ Platform, mBrochure, and Infosys mConnect – an enterprise mobility solution that provides a complete range of mobility capabilities.
Efficient Operations: Our Global Delivery Model gives you the advantage of de-risked delivery and reduced cost, with the ability to move work to different locations where talent is readily available. We have established large-scale solution centers for our clients that enable them optimize the operations of bank functions. We have helped clients through committed spend reduction while managing platform service level agreements — making this possible through our use of proprietary processes, methodologies and tools like MANTRA and iOS3.