What is happening in IT

Prasad Narasimhan – Technical Architect

What factors

• Compliance and Regulation• Business changes – New innovative ideas in

banking, pharma , insurance..• Channels and its impact.• Customer preference changes• Risk forecasting and Capital adequacy.

Compliance & Regulation

• Compliance in terms of process adequacy and system compliance in terms of information governance and circulation

• IT System should be able to store the past transactions not to discard after processing.

• System should comply with rules laid by Dodd-frank , FACTA and other compliance procedures

Business Changes

• Change in Business model for some of Banking system like on-demand , Mobile –first,..

• Real time is taking predominantly removing the batch operations.

• Changing the Business flow based on providing more value add based on Customer analytics on the data.

Channels and its impact

• Channels such as Mobile has vey big impact on IT systems in the way its exposed to customers and the internal business process.

• With the intersection of Voice, Touch & Geo Capabilities mobile takes the customer interaction to a different level.

Customer Preference Changes

• This days customer attachment to a product or Brand is very short lived unless the customer footings and preferences are not tracked they could moved to a different one based on offerings.

• Availability of leads and conversion to opportunities is also provided right segmentation and data is available

Risk Forecasting & Capital Adequacy

• In the recent money fluctuations and economic turmoil finding Capital adequacy using Risk Modeling and Stress Testing plays a paramount importance.

• This is strictly enforced by FED and Other Government to maintain adequate capital based on the threshold of transactions and business execution.