With the emergence of new digital economy, it is imperative for financial institutions to keep pace. At Coforge, we provide industry – specific services and solutions that solve real-world business problems. Operating at the intersect of emerging technologies, we drive collaborative transformations across Retail and Corporate Banking, and Asset and Wealth Management for larger, established players as well as Fintechs.
Over the last 25 years, we’ve delivered exceptional services and solutions for financial firms. Our network of experts, financial technology providers, digital labs, and COEs aid the development of unique solutions for your organizational needs.
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Asset & Wealth Management -
Banking
Leveraging intelligent solutions for greater wealth management
Traditional wealth management has relied on one-to-one, product driven advice. With the volume of invested assets increasing, traditional advisors can’t keep up. The need of the hour is for innovative and efficient solutions that can ensure proficiency, enable expert portfolio construction, and provide comprehensive risk management for the re-imagined industry.
Backed by 25+ years of industry experience, we deliver sustainable and profitable business models. Our asset management professionals and technology practitioners are supported by:
- A global workforce of AI, data, analytics, cloud, security, talent and operations specialists
- RIAs, family offices, private banks, asset management firms
- Platform providers to build robust enterprise solutions
Building innovative solutions for the future of banking
Amid a digital revolution, the banking industry is fighting hard to sustain a rapidly changing landscape of technology, competitors, regulations, and incumbents.
To stay competitive, your bank needs to focus on:
- Core system modernization
- Cloud-native banking strategies
- Enterprise-wide AI strategy for a customer-first organization
- Harnessing the potential of data
Coforge delivers on the promise of powerful agile banking practices – optimizing your processes for speed, agility, and efficiency. Across the globe, our team of Banking Technology consultants' partner with leading high street banks, marquee central banks, government agencies, and innovative fintech companies to help them navigate the modern digital economy with winning technology strategies.
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Business Agility and Simplification -
Robotic Process Automation (RPA) -
Business Process Services -
Quality Engineering -
Cloud Services -
Platform Modernization
Enterprise Agility for financial adaptiveness and stability
Financial institutions are stuck in legacy business models with their operations sluggish to adapt. While they have experimented, the new ideas haven't scaled to alter the core business - leading to operation struggles during disruptions or changes in the market. To be agile means to be responsive to market forces and opportunities.
Coforge enables the transformation of processes by:
- Simplifying the architecture landscape
- Aligning it at business/application/information technology levels
- Ensuring continuous delivery of business value from development teams into production by leveraging DevOps, decommissioning legacy and duplicate applications, and integrating them with enterprise systems via agile and pluggable integration mechanisms.
Automating Back-office operations through RPA
Robotic process automation (RPA) is gaining attraction in the financial services industry with its ability to drive cost-effectiveness and reduce manual effort, which in turn helps the business focus on creating exponential value for the customers. Banks are increasingly adopting RPA to become agile, competitive and profitable.
Our RPA delivery framework, combined with cognitive technologies, enables organizations to:
- Create a fast, accurate, cost-effective, and round-the-clock virtual workforce
- Attain operational excellence.
- Create intelligent operations that accelerate productivity
- Stay compliant and minimize cost – letting you focus on your customers.
Digitize your business processes from front to back
The Banking and Financial Services industry is experiencing a radical change driven by competition from FinTechs, evolving business models, increasing regulation and compliance pressures, and new disruptive technologies. Our business process services help organizations navigate the complex business landscape and build a truly cognitive enterprise. We combine design-thinking principles, lean methods, digital analytics, and emerging technologies to create future-ready solutions that:
- Enhance enterprise mobility
- Transform business landscape
- Create intelligent workflows
End-to-end Quality Engineering in Financial Services
The Banking & Financials industry is changing drastically. To keep pace with the rampant digital disruption and radical change, financial institutions must increase their focus on digital quality assurance that results in a superior end-user experience.
Backed by years of BFS experience, proven tools, and accelerators, Coforge focuses on improving:
- Quality of service
- Testing requirements with our testing value proposition canvas
- Transformation experience to emerging technologies
Accelerating growth and delivery with cloud
The banking and Financial industries are turning to the cloud for its flexibility and scalability. Cloud comes with the potential to disrupt business and IT together. It has become necessary for enterprises to have a comprehensive cloud strategy.
- Integrate different layers of Data, Infrastructure, and Applications
- Use proven templates for design, implementation, and management
- Ease your cloud transformation journey
- Outcome-based managed service model
Sustaining adaptability of financial services
In a digital world, banking platforms must be more collaborative, open-banking enabled, integrate with third-party services, and other stakeholders. Attaining this future-ready system takes more than simple automation of operations. With over 20 years of experience, Coforge serves a global clientele, providing cost-effective and reliable assessment, platform refactoring, migration, re-engineering and rationalization services. Our management processes include:
- Resource optimization
- Continuous improvement framework
- Deep domain expertise
- Outcome-based managed service model
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Intelligent Client Onboarding -
Zero Touch Experience -
Bank-on-the-Cloud (BankingEasy) -
Intelligent Automation -
Business Process Management -
Reference Data Management -
Improving Investor’s Digital Experience -
Business Process Consulting -
Smart Document Processing
Seamless Customer Onboarding for FIs through iCOB
Financial institutions often face issues with customer onboarding. The current system is a lengthy paper-based, error-prone, time-consuming, labor-intensive, and expensive process wherein organizations struggle to keep up with day-to-day operations.
Our solution? iCOB – an intelligent client onboarding software that transforms onboarding experience. A combination of our deep domain and technology expertise, iCOB helps your organization deliver a consistent, intuitive, and omnichannel experience. iCOB brings in:
- Operational efficiency
- Transparency and effective communication
- Data quality at every step
Enhancing Advisor Productivity with Digital Assistance
The new generation investors and financial advisors are tech-savvy individuals that expect efficient solutions for managing their wealth assets.
With Coforge’s zero-touch digital assistance, investment advisors can create and maintain wealth management assets (portfolios, data analysis and much more) with minimal effort. The highly-interactive interface:
- Automates standard operations
- Employs easy-to-use conversational workflows
- Provides cross-platform support
- Frees up the advisor’s time to build better customer relationships.
Abridge cost of ownership with BankingEasy
The banking industry is looking to the cloud as a key driver in its strategic decision-making process. Cloud is enabling business agility, operational efficiency, and business growth with the rapid development of on-demand products and services.
Coforge introduces, BankingEasy – a cloud-based solution for small to mid-sized banks. BankingEasy allows banks to:
- Reduce upfront IT infrastructure costs
- Accelerate digital innovation
- Integrate cloud with core business functions
Maximize Operational Efficiency in Front, Middle and Back Office
To transform your business into a smart enterprise, you need to have successful end-to-end automation. To achieve this, banks and financial institutions should look to emerging technologies of AI, ML, machine vision – going beyond simple automation.
Our solutions bridge the gaps of automation for the front, middle, and back-office functions.
Digitize process through BPM-infused transformation
A proliferation of new and emerging technology is disrupting the robust business environment of BFS. To address this, organizations are looking to efficient business processs management (BPM) solutions.
Ease your digital process transformation with Coforge’s revolutionary solutions. Powered by innovation, we offer business process management solutions that are:
- Value-driven
- Process-based
- Aligned with your business goals
- Delivers measurable outcomes
Adopting Next-Gen technologies to enhance RDM Capabilities
Efficient reference data management is crucial to maintain high data quality standards for an organization. Yet, it is one of the top challenges faced by organizations due to poor data quality, data silos, multiple data sources, and inconsistent global data standards.
Coforge meets the needs of RDM with its innovative approach and next-gen technology integration. To be effective, our RDM solutions provide the right mix of governance and a robust plan for quickly mapping reference data sets.
Transforming investor experience with Digital Fund Factsheets
Living in a digital world, consumers have come to expect e-commerce-like convenience from every service industry – including investment management. A new generation of investment managers are driving how investors purchase and consume wealth services.
To meet the needs of the changing investment landscape, Coforge developed Digital Factsheet – an NLP-powered solution that provides a data-centric digital experience. The interactive interface simplifies multiple touchpoints for investor and adopts an empathic design for better user experience.
ProcessGym™ is Coforge's unique 4-step process re-engineering and improvement framework to achieve optimum service delivery. The principle aim of ProcessGym™ is to identify and eliminate waste, assess and manage risk through risk mitigation, and help achieve optimum service delivery. We employ D-M-A-I-C (Six Sigma) & P-D-C-A (Lean) methodology with Business Process Re-engineering & Domain Expertise.
Unstructured data is an untapped pool of information that existing BPM tools fail to understand or capture. With increased digital adoption, a large volume of data is generated from diverse sources including comments, survey responses, call transcripts, blogs, and social media sites.
"Coforge brings thought leadership especially around Data, Cloud, Digital. Coforge helped us implement cloud within 8 months which is pretty significant. We tend to go with people (Coforge) who actually understand our business."
"One of the most compelling aspects of our relationship with Coforge is that it’s a two-way street…they recognize our business in a holistic way…They are very helpful beyond the mere provision of technology services…we trust Coforge completely to deal with the outsourcing."
Case Studies
White Papers
Point of View
Data Sheet
Blog
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Improving Business Agility with Performance Tune-up of Key ApplicationAn asset management firm used Coforges' performance engineering expertise to fine-tune the application, helping the company keep pace with the new requirements of the advisors. Our systematic approach provided several opportunities for implementing quick and flawless enhancements in the existing system.
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Enhancing Efficiency with Revamped Wealth Data Retrieval System for a Financial Investment Management CompanyCoforge helped in improving the responsive web application framework that acts as a multi-channel platform. It rendered a friendly user experience, better performing application, improved user productivity, and a more up-to-date user experience with an overall reduction in ongoing platform maintenance cost to the client.
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Optimizing Incident Management and Resolution with CRM IntegrationA global provider of investment processing, management, and operations solutions was looking to automate their incident management system, critical to improving response and resolution times. Coforge helped the client to replace the error-prone manual process with a streamlined and secure platform-enabled complaint resolution in a timely and orderly manner.
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Reimagining the Role of Investment AdvisorsResearch reveals there is no single, integrated solution available in the market that meets the needs of the advisors. It clearly indicates that advisors have to customize or buy a solution based on the needs of their customers. New age customers are looking for an ideal advisor portal for their all-round financial needs. Ideal advisor portals enable advisors to become truly mobile, enhancing their sales effectiveness, and overall ability to service customers.
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How Coforge is supporting businesses grappling with the LIBOR transitionCoforge Advisory SME’s John Speight and Joseph Mendel respond to common questions on LIBOR. FCA announced in 2015 that it would only support LIBOR until 2021. The cost of administration for panel banks along with the regulatory and reputational risk associated with any issues means that banks are unlikely to continue providing the requisite rates post 2021 once compulsion retracted.
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BFS - Online Banking Meeting Customers Where They AreThe digital disruption we are witnessing today has changed the business landscape for industries across the board. According to Forrester Research, mobile banking is the biggest industry innovation in a century. This rapid growth is not limited to just mobile banking. It spans all forms of virtual banking and has gone beyond the traditional modes of personal and phone interaction. Banks are building a digital ecosystem to serve customers better.
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A Little Less Oversight, A Lot More ForesightRisk management has taken a center stage in the world of finance. The volatility and growing complexity in the financial services industry has made it necessary for regulatory bodies to impose compliance regulation on capital, liquidity, and operations. This paper focuses on how technology interventions can be used to manage the risks better.
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BFS - Smart Operations Transforming Financial OperationsWhile customer demands and frontend, customer-facing interfaces are evolving at breakneck speeds, the back office in banking still lags woefully behind. There is heavy dependence on paper processes, manual effort, or at best, legacy-era spreadsheets. Back-office automation could help banks eliminate these inefficiencies and discover new opportunities in core functions, such as account opening, credit processing, and fraud prevention.
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Business Operations Remote Working strategy during a COVID-19 situationView from Coforge, Financial Services Advisory Team Joseph Mendel and Babita Wadhwa. The impact of COVID-19 on the financial services business is seismic. While other industries such as the Travel, Transportation, Hospitality, Insurance, Retail, and Telco are severely impacted it is the resiliency and continuity of the financial services markets that will support Governments and businesses during and post crisis; ensuring liquidity is available.
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Gain a Complete View of Performance with Enterprise Data ManagementLooking for a vendor to help power your enterprise with relevant data for decisioning and consistent regulatory reporting? Coforge can help you by orchestrating efficiency across your varied and voluminous data streams. Our global expertise and deep experience in handling enterprise data allows us to transform dispersed, siloed data into a smooth flow of singular, enterprise-wide information.
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Driving Reliability in Reconciliation Processes for Capital Market FirmsThe margin for error is narrower than ever in the capital markets, especially in post-trade processing. Even as data volumes grow and regulations becomes more stringent, capital markets firms must make their reconciliation process swift, accurate, and effective. But achieving this is difficult with lean teams and rigid systems. That is where Coforge can help as an end-to-end reconciliation solution provider.
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Ensuring Scalable and Defect-free Applications for Financial InstitutionsApplications provide a foundation for an organizations' key offerings. It is therefore necessary that these different applications are thoroughly tested and verified before deployment. Coforges' best-in-class comprehensive, domain-led testing services help global banks and financial institutions reduce software development and maintenance costs, enhance application quality, reduce overall testing cycle time, and mitigate technical and business risks.
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The Imperatives Behind the BFS Industry – A ReflectionDigital technologies have transformed traditional ways of doing business and the story is no different for the BFSI sector. This has been further accelerated by the current coronavirus pandemic. As customers embrace more digital channels, BFSI sector will have to look at a digital-first business strategy to sustain competitive advantage. We look at few emerging trends across the BFSI sector.
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A quick glance at how Artificial Intelligence is driving transformational change to Client ExperienceAt Coforge we are focused on the application of Artificial Intelligence within our Domain, Customer Experience & Data and Analytics practices to build predictive models to help deliver business impact. We strongly believe that it is increasingly important that businesses have solutions that use Artificial Intelligence to augment how they communicate with their customers, especially through this chaotic world of COVID-19.
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Handling the Governance Risk and Compliance Albatross as it ComesCommon consensus was that only death and taxes were certainties in life. Today, however, I am not so sure as other certainties have reared their heads to challenge this, one of these is the ever changing and evolving regulations affecting all aspects of life. For Coforge it is critical that we stay abreast of this continual change so that we can advise our clients on (1) how to remain compliant and (2) how to derive business value-add from their investments.
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Ph: +91 (120) 459 2300
Fax: +91 (120) 459 2301
SEZ Developer Unit
Plot No. TZ-2 & 2A, Sector Tech Zone,
Greater Noida, UP 201308, India
Ph: +91 (120) 459 2300
Fax: +91 (120) 459 2301