Financial Services

Overview

The banking sector is in the limelight as it grapples with the twin challenges of adapting to the changing regulatory environment and satisfying increasing demands from the digital consumer. In a depressed macro-economic scenario it must perform a balancing act between controlling costs and responding to high customer expectations.

Organisations in the financial services sector must respond to pressure on pricing and capital, competition from emerging markets and a rapidly evolving marketplace.

Key Challenges

Modernisation and Efficiency
Updating and rationalising legacy and archaic systems to meet the customer and market needs of today is key to remaining competitive. Operational efficiency needs to be achieved by extracting maximum mileage from IT assets and investments, streamlining processes and increasing automation.

Regulatory Compliance
The banking industry is experiencing unparalleled change and scrutiny. Keeping the business and its associated systems and processes compliant, transparent and up-to-date in a changing regulatory environment is a huge task.

Mastek has extensive experience in working on large modernisation programmes in insurance, banking, government and health and delivering them within time and budget. Our Enterprise Application Services create bespoke solutions to fit your business needs and give strategic advantage.

Agility and Data Privacy
Companies need support for innovative offerings to cater to the demands of the rapidly changing marketplace. Businesses must quickly introduce new products, partners and channels to increase their reach to customers while ensuring data protection and information privacy.

Kameleon, Mastek’s powerful data privacy solution, has been developed through our experience in multi-party enterprise management of confidential data for the Health Service, Government and the Military. It provides patented pseudonymisation security for rule-based data anonymisation.

Big Data and Analytics
Optimal use of analytics and intelligent systems for segmentation, pricing, risk assessment and new product launches gives significant competitive advantage. With almost flat growth in Western economies, customer knowledge and relationships are of prime importance in order to grow market share.

Mastek’s extensive experience of large-scale Business Intelligence and Data Warehousing projects can help you maximise your data and make informed decisions to help grow your business.

Enterprise Mobility
Efficient utilisation of social media, mobile and various other digital platforms will enable the banking industry to meet rising expectations of the virtually-connected customer.

Mastek’s Enterprise Mobility services can help you extend your existing applications to the mobile channel and deliver an optimal return on your existing investment in technology. Mastek’s Enterprise Mobility services are delivered via a proven, referencable methodology and can help you implement and integrate an overarching mobile strategy or deliver a point mobility solution.

Mastek – The Expert for Financial Services

Mastek has been delivering Enterprise Application Services to major global financial services firms, many of them Fortune 1000, for many years. Mastek’s extensive domain knowledge, thought leadership, and a proven delivery framework that is highly respected by its customers, are the three pillars via which Mastek produces organisational transformation.

Mastek's expertise in Financial Services:

• Working With Consortiums – Mega projects cannot be completed without the ability to work with multiple partners. Mastek has expertise in delivering successful projects by working in close collaboration with a diverse set of partners.
• Insightful Solutioning – Strong understanding of both the business and the technology gives Mastek an unique advantage in creating solutions that stand the test of time.
• Agile Delivery – Project delivery within time and budget with predictable outcomes.

A hands-on, value-driven approach and emphasis on taking accountability for business results make Mastek a partner of choice for firms across the brokerage, asset management, and financial advisory space.

Our Products and Services:

• Business Intelligence (BI) & Data Warehousing (DW)
• Testing
• Enterprise Mobility
• Enterprise Application Services
• Data Privacy (Kameleon)