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Dealing with increasing regulatory complexity whilst focusing on delivering value to customers

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© 2012 WIPRO LTD | WWW.WIPRO.COM
1
From BAU to CAU
Ways to get past ‘
Run the Bank’ and ‘
Change the Bank
’….and move into Change As Usual
Satish Wadhwa
14
th
March 2012
© 2012 WIPRO LTD | WWW.WIPRO.COM
2
So, is this the ‘new normal’?
SOURCE: McKinsey Research
Top 10 trends that will shape operations & technology priorities with banks:
© 2012 WIPRO LTD | WWW.WIPRO.COM
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The Risk of the ‘New Normal’ approach
•
This particular „
new normal‟ has embedded regulatory „interference‟ and customer „protection‟ in an irrevocable net of complexity.
•
Both the volatility in volume and the change in the nature of products, services, channels, and regulation have created a pressure on processes and systems
•
The traditional approach of „bolting on‟ additional or innovative capabilities has created complexities which are only sustainable at high cost and at even higher workloads .
SOURCE: McKinsey Research
SOURCE: Compliance Week & Wipro joint publication
© 2012 WIPRO LTD | WWW.WIPRO.COM
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This change is different & compelling…it is Change As Usual
•
Impending need to operationalize ‘Change as Usual’ into the way banks evolve
© 2012 WIPRO LTD | WWW.WIPRO.COM
5
Regulation and Compliance -
caveat venditor!
•
Clear direction is on sustained transparency and customer/consumer protection
•
Paradigm shift from being ‘table stakes’ Efficiency based Regulatory reporting to being ‘strategic’ Effectiveness based Risk & Compliance
.
•
Banks can change policy -
e.g. FATCA, FSCS, the future of cheques; UK Switchers are all current examples •
Enforced, on
-
going divestment programmes demanded by regulators have severe implications for future decisions. •
Ownership of regulation is not determined: European regulators create new powers and bodies and change role of current bodies (e.g. FSA to Financial Policy Committee)
•
Focus is going to be on insight to inform strategy whilst delegating daily „table stakes‟ regulatory compliance to specialists.
© 2012 WIPRO LTD | WWW.WIPRO.COM
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Run the Bank vs. Change the Bank and Core vs. Non Core implications
•
Regulatory change and compliance does not fit easily into RTB or CTB
mould –
there is no benchmark „optimal‟ ratio
•
Banks‟ current focus remains achieving flexibility whilst reducing cost. This is not a „new normal‟ –
but the „old normal‟ with more urgency. •
Traditional solution has been first to measure and then track costs to establish benchmarks to try to manage down costs. •
Now complexity has increased because of the number of third parties involved, plus cross charging and billing –
internally and externally, with only SLA KPIs (limited truly end to end service provisions)
•
Banks need to move away from owning assets (Read: Museums!) to owning Customer, Product & Price information hubs.
© 2012 WIPRO LTD | WWW.WIPRO.COM
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Banking consequences in a ‘change as usual’ world
1.
A spectrum of aggregators from supermarket channels to Specialist Financial Advisory providers interface with clients to help select and manage portfolios.
2.
Group Information Hubs which should be core IP of the Bank
3.
„Product factories‟ which focus on developing product and managing associated risks 4.
IT is a consumable, variable price shared service by cooperating third parties.
SOURCE: Wipro's 21
st
Century Banking Operating Model
© 2012 WIPRO LTD | WWW.WIPRO.COM
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Our view of a simplified 21st century banking operating model
Strategic Review perspective: ENRICH
•
Build industry leading multi
-
channel sales & service model; customize for customer centric RM in focus segments (SMEs, HNW, mass affluent etc.)
•
Transform branch networks, enhance internet experience and invest in mobile and digital channels
•
Leverage channel reach to boost new product distribution (E.g. Bancassurance)
Strategic Review perspective: SIMPLIFY
•
Simplification for best
-
in
-
class ‘cost to serve’ with re
-
engineered, automated and industrialized business processes
•
Establish Transaction banking capabilities –
including enterprise Payments Transaction Hub
Strategic Review perspective: ESTABLISH
•
Single Customer View with real time group
-
wide analytics based insights capability
•
Single Product Master with bundling, offers, pricing and rewards capability
Strategic Review perspective: TRANSFORM
•
Establish best
-
in
-
class risk and finance disciplines including capital & asset controls
•
Establish Group
-
wide data, MI and reporting capabilities for Finance and Risk
•
Eliminate cost through self
-
serve & outsource of non
-
core
Strategic Review perspective: FOCUS
•
Retail: Enhance lifecycle value in Brand(s) &
propositions •
Commercial: Focussed SME growth •
Wealth: Focussed growth in mass affluent and HNW
SOURCE: Wipro's 21
st
Century Banking Operating Model
© 2012 WIPRO LTD | WWW.WIPRO.COM
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Conclusion –
Moving towards shared success
We suggest banks work now
to establish definitively to what degree sharing of non
-
differentiating components can help them to succeed
(
Read: Survive
)
And if so, which components, when and how best to achieve this. •
„Co
-
opertition‟ involves declining to compete directly where the sole source of competitive advantage is unit cost -
which can be said for much of today‟s IT and operations
•
It is timely that we evaluate the opportunity for cooperation in building and running the underlying „industrial‟ services that enable banks to deliver value to their clients.
© 2012 WIPRO LTD | WWW.WIPRO.COM
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To consistently win in an emerging business landscape, businesses must embrace change as usual: Change that helps “Do Business Better
”
About Wipro
11
© 2012 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL
US $ billion in revenues
(28% CAGR over 6 years)
$ 5.2*
Active global clients
(150+ fortune 500 customers)
953*
Top 25
Countries
54
Attracts the
best talent
Wipro Technologies –
overview
Sustained growth
Partner to industry
leaders
Leaders
Global presence
(*Figures for Q3 2011 –
12 for Global IT Business)
*Includes Global IT Services Business and Products **List announced by Aon Hewitt, The RBL Group and Fortune
(Products revenue -
as per Indian GAAP converted to USD based on realized exchange rate of IT Services business)
Employees
136734*
Company for leaders, globally**
12
© 2012 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL
Integrated service offerings
Retail, CPG, Transportation & Government
Financial Services
Healthcare, Pharma & Services
Global Media & Telecom
Energy, Natural Resources & Utilities
Manufacturing & Hi Tech
Service lines
Consulting
Business Application Services
Analytics and Information Management
Technology Infrastructure Services
Business Process Outsourcing (BPO)
Product Engineering Solutions
Industry verticals
© 2012 WIPRO LTD | WWW.WIPRO.COM
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Key focus areas for solutions in Banking
Regulatory Compliance
•
Dodd Frank Act
•
Basel II & III
•
FATCA
•
Legal Entity Identifier (LEI)
Growth
•
Mergers & Acquisition
•
Customer Experience
•
Mobility
•
Analytics & Information Management
•
Social Computing
Change As Usual
•
Simplification: Process Optimisation; Infrastructure / Application Portfolio Rationalization
•
Enterprise Service Transformation (Finance & Payment)
•
Cloud / Utility Offerings
•
Eco Energy
•
High Performance Computing
© 2012 WIPRO LTD | WWW.WIPRO.COM
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Current portfolio of solutions for a bankable future
© 2012 WIPRO LTD | WWW.WIPRO.COM
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Our identified areas for investment in Financial Services
Risk & Regulatory Compliance
Productized Solutions
•
FATCA
•
Legal Entity Identifier
•
Basel III –
Counter Party Credit Risk
Mobile enabled Financial Services
Productized Solutions
•
Tablet based Wealth Management Application
•
Tablet based Mortgage Origination Application
•
Tablet based Customer Acquisition Application
•
SmartMobile enabled CFO Application
•
Contactless Payments
Productized Services
Utilities / Productized Services
•
Core banking Utility
•
Regulatory Reporting Utility
•
Securities Processing Utility
•
Payment Processing Utility
Emerging Technologies: Big Data & Analytics, Social Computing
Productized Solutions
•
Regulatory Reporting Data Model
•
Predictive Customer Analytics
•
Social Financial Services Enablement Kit
© 2012 WIPRO LTD | WWW.WIPRO.COM
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Thank You
© 2012 WIPRO LTD | WWW.WIPRO.COM
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Core IT
Operationalising the ‘Change As Usual’ through Simplification
Outsourcing Enablement
Application & Data Integration
Business Process Design Shop
Risk
HR
Finance
Simplification Program -
Process, Applications, Data & Infrastructure
E N V I S I O N the Change
E X E C U T E the Change Delivery
E M B E D the Change
Program Governance
Business/Ops Leadership
IT Leadership
Change Leadership
Understand the Customer Value Proposition by segment
Align Business Performance Framework & Key Performance Metrics
Design Target Operating Model for Group Operations
Plan Simplification Roadmap
Retail
Wholesale
Wealth & International
Insurance
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Business Process Improvement
Automation / IT Change
Outsourcing
Current State Map
Benchmark
Improve
Re
-
engineer
Target State
Design
Workflow Automation
System Reengineering
Functional Outsourcing (HR, F&A etc.)
Domain Outsourcing (Mortgages, Insurance)
Infrastructure Outsourcing
Ready Business
Deploy change
Adopt and monitor change
Drive measurement and continuous improvement as per Key Performance Metrics
Change Portfolio
Data hubs
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