Few financial institutions have had the time or resources necessary to tie these systems and processes together into an integrated straight through process. This problem has been exacerbated by consolidation in the industry as financial institutions inherit more teams, more channels and more systems through mergers and acquisitions.
At the same time, competition is increasing and margins are shrinking as financial products are becoming more of a commodity. In response, financial institutions are trying to offer an integrated set of financial products and services to meet the increasing demands from business customers and increase wallet share through cross selling. However, separate processes and disparate systems create silos of information that do not facilitate cross team and cross channel collaboration. These organizational and technical divisions have created inefficiencies, delayed processing, and prevented financial institutions from offering the integrated financial products and services needed to leverage customer relationships, maintain competitiveness and increase revenue.
The problem extends beyond a single financial institution. As a result of recent deregulation and consolidation, financial institutions have acquired or partnered to provide a broader range of financial services through new channels and geographies. This extended finance supply chain has evolved to include many different institutions and independent teams. Each exchange of information between firms or teams requires paper to be passed back and forth while data is re-entered into each system. Each exchange further increases delays, costs, errors and risk.
HCL’s vision is to transform paper-based, stand-alone finance operations into integrated, streamlined finance supply chains. As a core component of this strategy, HCL has developed CapitalStream™, a single integrated Straight Through Processing platform. CapitalStream enables seamless and paperless collaboration between clients, partners and internal operations to rapidly evaluate and originate finance transactions using web-based collaboration, process automation, business analysis and supply chain integration.
HCL has implemented CapitalStream at leading financial institutions worldwide to integrate the disparate systems, processes and organizations that manage credit relationships across all channels, functions, divisions and products. Relationship managers, product specialists, pricing analysts, credit analysts, branch personnel, call center personnel, customer service representatives, contract/documentation managers, management and other front office personnel along with clients, vendors, partners and service providers collaborate more effectively with one access point for the information they need to analyze, originate and manage credit relationships.
Financial institutions have never been under more pressure to accelerate processing to handle more transactions more quickly, automate processing to increase efficiency and enforce consistency to minimize risk. At HCL, our goal is to accelerate and automate the financial front office enabling financial institutions to better manage credit risk, shorten processing times, reduce costs and grow revenue. Using CapitalStream our customers have more than doubled transaction throughput with no increase in headcount achieving returns on investment in excess of 100 percent with payback in less than one year.
In order to achieve our goals and provide valuable information to the financial industry, HCL conducts extensive market research on an ongoing basis. HCL also conducts frequent industry surveys and prepares extensive research reports that assess critical needs, analyze trends and establish benchmarks. These can be used by financial institutions to gain insight and compare performance with peers. By continually researching and publishing, HCL endeavors to play an active role providing thought leadership that will serve to improve the overall capability, efficiency and profitability of the financial industry.
