Core Banking

K N V S SIVAKUMAR (QUALITY LEAD AT CHEGG INDIA PVT LTD) (964 Points)

16 September 2010

Core Banking

Core Banking and Run the Bank are synonymous for most part. Core Banking is the meeting point of the largest banking services segment namely Retail and Commercial Banking, cutting edge Information Technology and the ever advancing Communication Technology. It is the heart of a modern financial service organization and is all about providing the banking customers with the right products at the right time through the right channels 24 hours a day, 7 days a week through a multi location, multi branch network.

HCL’s expertise in core banking encompasses the whole gamut of functionality, be it single customer view, checking accounts, back office transaction processing for lending, funds transfer, risk, regulatory reporting, collection monitoring or any other niche/ generic trait.

Services

HCL’s core banking team has successfully accomplished a number of large project assignments for global banking majors in varied areas like application development, development of online and batch interfaces to other landscaped applications and their seamless integration into the overall application firmament.

With a proven track record in application interfacing / integration with plethora of upstream and downstream applications HCL’s end-to-end services encompass design, development, testing and test automation and also provide application enhancement and crucial maintenance support.

Apart from these service offerings, the experienced techno-banking team of HCL also provides high end solution consultancy for core banking with an underlying capability to create and service the financial products required by varied targeted customer categories. These are in the spaces of application migration, data conversion and big bang as well as phased implementation focusing on modular business coverage, to name a few.

Such initiatives harness the entire banking domain and technological expertise of the entire HCL team - a team with a proven track record in delivering quality performance and services with aggressive timelines, across multiple streams running in parallel, often creating from scratch the environments for development and implementation.

Partnerships

HCL’s partnership with leading Core Banking vendors like SAP, Oracle and Misys is leveraged to provide intricate product customization and multi-layered implementation initiatives across the world for leading banks.

HCL’s development partnership with SAP is a stellar example of such grand alliances. This partnership focuses among other things, on global core banking product development initiatives in India, USA and China which encompass Governance, Risk and Compliance too. This ever expanding partnership will soon cover other niche areas like value engineering, sharing best practices at both sides.

Under Oracle’s Partner Program, HCL is recognized at the highest level of partnership i.e. the Certified Advantage Partner. HCL has been an Oracle implementation partner since 1998. HCL’s Oracle Practice is an integrated services group, providing technology-based business optimization on Oracle Enterprise software products and on Oracle Technology Platforms for a large number of Oracle products in areas including core banking, beside Data Warehousing, Business Intelligence, Fusion Middleware and Oracle Database. HCL’s Oracle Lab is a joint endeavor by both companies to develop vertical centric, pre-configured solutions and provide product demonstrations to global clientele.

HCL’s partnership with Misys commenced in 2007. The scope of partnership includes implementation of various Misys products in Core Banking, Commercial & Corporate Banking as well as Capital Market Services. The partnership concentrates on product enhancements and implementations in Asia Pacific and Australia geographies with blueprints being drawn to extend the coverage both geography and product-wise.

Axon, the newly acquired SAP consulting wing of HCL brings new capabilities to the market with a truly global delivery model providing full lifecycle suite of services with unique value propositions.