N Ganapathy Subramaniam, President, TCS Financial Solutions
How to provide customers with relevant, in-context information that captures their imaginations?
In a breathtaking video based on NASA satellite images, one can see the illuminated areas of the world across the Earth at night. Equally breathtaking are world maps of Internet data flows and bandwidth at any time of day. As never before, people have become interconnected in a close-knit global economy, and these shifts have reshaped both global financial services and the broader economy.
The consistent growth of TCS tracks these global changes. At present, TCS has over 1,550 customers in 46 countries served by more than 318,000 of the world’s best-trained consultants, representing 119 nationalities.
At TCS Financial Solutions, we have more than 300 clients using TCS BaNCS across banking, capital markets and insurance, and just about every week we have another new win or customer go-live. In a large percentage of these engagements, TCS BaNCS acts as the primary core solution provider. For these clients, their greatest pain point is the need to migrate to a modern core solution. Yet for many financial institutions, the greatest pain point is no longer the back-end core, but rather the front-end interface with the customer.
Consumers are more connected than ever, using technologies that generate information about context and mood. Furthermore, the latest devices have innovative form factors and amazing capabilities that augur the need for even faster reaction times to new technology. It’s no longer just about reaching customers on their PCs, mobile phones and tablets. We are in the early days of wearable computing, immersive headsets and augmented reality, and commercial products will be upon us faster than we may realize.
Given these trends, service providers have to be prepared to support “hyper-contextualization,” that is, providing customers with relevant, in-context information that captures their imaginations.
Hyper-contextualization poses a major challenge for financial institutions. Read the white paper.