As multiple megatrends and volatile macro-economic forces converge together to reshape the retail banking industry, banks are increasingly forced to rethink their operational models. Banks will need to invest in new technologies – specifically social media, mobility, analytics and communications – to deliver a streamlined and unified customer experience across channels. There is also increased pressure to drive productivity and control costs, while simultaneously driving customer excellence with differentiated value proposition to stand out among competition.

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By Thomas Mathew, Principal Consultant, TCS BaNCS

Big Data can be defined as a significant amount of structured and unstructured data that is now available for any enterprise to capture and analyze, through complex and very fast computing operations for a more thorough and insightful understanding of their businesses. Big Data can lead to enhanced productivity, stronger competitive positioning and greater innovation – all of which can have a significant impact on the bottom line of the business.

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R Vivekanand, Head, Product Delivery, TCS BaNCS and Malini Raman, Head, Product Management, TCS BaNCS – Market Infrastructure

The recent global financial meltdown has placed the spotlight on risk management practices, especially in the way counterparty credit risk and exposure is monitored and managed.

Governments across the globe have been forced to take measures, including enforcing regulation, particularly on OTC markets, with clear deadlines for compliance in order to restore confidence in financial markets.

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Siddhartha Banerjee, Member, Product Management team for TCS BaNCS Insurance

The prevailing fiscal crises, problems stemming from climate change, terrorism, and the rising number of natural catastrophes have made risk management an uncertain and tricky affair. Accumulation refers to the risk that arises when a large number of individual risks are correlated (geographically or otherwise) such that a single event will affect many or all of these risks simultaneously.

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Gary Schwartzberg, Solutions Sales, TCS Bancs North America

Presently, it is estimated that less than 10% of Interest Rate Swaps and Credit Default Swaps are traded fully electronically. The lack of automated trading is the core reason for manual post-trade processing for OTC Derivatives. However, industry analysts estimate approximately 75% of Interest Rate Swaps and Credit Default Swaps could be traded and cleared electronically, over the next 10 years. The shift to fully electronic trading and processing of these OTC products will have key implications for trading, clearing, risk management, and trade reporting, and, therefore, have deep impact on front-, mid- and back-office operations.

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