Digital Transformation in Financial Services | Case Studies - SHI

Modernizing Financial Services

Rely on Locuz to support you at every stage of your journey, whether you're in retail banking, wealth management, insurance, or financial markets!

Financial institutions play a crucial role in society, but to stay relevant in a constantly changing landscape, they need to modernize. Keeping up with evolving customer demands, adapting to new regulations, and managing cybersecurity risks while controlling costs is a monumental challenge. The solution lies in a radical business transformation fueled by digitalization, leveraging cutting-edge technologies such as AI, data, and cloud computing.

Financial service institutions are currently adapting to shifting customer behaviors and rising expectations through creative business strategies, forming cutting-edge ecosystems, and streamlining industry value chains. Meanwhile, the ongoing surge in data, stringent compliance regulations, heightened security concerns, and evolving workforce dynamics are ongoing challenges that continue to shape the financial services industry.

Financial institutions need to anticipate change and be agile enough to thrive in it.

Technology moving financial services forward

The financial services sector appears to be adapting to a changed reality. What were once temporary measures are now likely to become permanent, and a new industry framework is emerging to improve customer experience, increase operational efficiency, and reduce costs.

Embrace Full-Scale Digitalization: Adopt a comprehensive approach to digitization to revamp operations and drive innovation, using exponential technologies like automation, hybrid cloud, and AI to stay ahead in the digital race
Customer-Focused Business Models: Create new platform business models centered around customers to seamlessly integrate and address the needs of different ecosystem participants
Stay Ahead of Security and Fraud: Stay ahead in the evolving landscape of cybersecurity to counter increasingly sophisticated malicious actors
Sustainable Strategies: Develop sustainable strategies to meet market expectations, regulatory requirements, and ethical objectives while maintaining an acceptable cost-benefit balance
Maximizing Data and AI: Implement AI factories and optimized data environments to harness data and accelerate transformation

Locuz enabling Financial Services in their Digital Journey

Cloud Transforming Financial Services

Financial Service institutions need a secure, resilient global cloud infrastructure and cloud managed services to differentiate themselves today and adapt to the needs of tomorrow. We at Locuz help financial institutions modernize their infrastructure, meet rapidly changing customer behavior and expectations, along with driving business growth. We can help you

Achieve Scalability: The ability to quickly and easily scale up or down to meet changing demands, reducing downtime, and improving efficiency
Improve Security: The implementation of security measures designed for the cloud, improving the protection of sensitive data, and reducing the risk of cyber-attacks
Increase Agility: The ability to deploy new services and applications quickly and easily, improving responsiveness to changing market conditions and customer needs
Maximize Data management: The ability to store, manage and analyze large amounts of data, providing valuable insights and enabling data-driven decision making

We partnered with India’s top Financial Services & Solutions Company to help them build a highly scalable, secure, & optimized Infra on AWS, which required us to do a seamless migration of their applications from a hosted collocated platform to AWS. We also enabled application monitoring while adjusting capacity to maintain steady, predictable performance at the lowest possible TCO. We also achieved 25% reduction in TCO compared to On-Prem for them

Making Financial Services Cyber Resilient

Cyber criminals are getting smarter and cyberattacks are on the rise. Boost your financial institution’s cybersecurity to stay ahead. We put zero trust into action with a modern, open approach for our customers in the financial services segment. We infuse information security into your infrastructure to safeguard your data and assets. Our comprehensive data security strategy incorporates people, processes, and technologies along with establishing appropriate controls and policies to reduce cybersecurity risk. We can help you

Protect Sensitive Data: Protect confidential client information and financial transactions from unauthorized access, theft, and fraud
Compliance: Financial services organizations are subject to various regulations, such as the Payment Card Industry Data Security Standard (PCI DSS) and the General Data Protection Regulation (GDPR), that require robust cybersecurity measures to be in place
Minimize Risk: Cybersecurity measures reduce the risk of financial losses resulting from hacking, malware, and other security threats
Stay ahead of Evolving Threats: As technology evolves, so do the tactics used by cyber criminals. Financial services institutions must continuously assess and improve their cybersecurity posture to stay ahead of new threats

For a global financial services group company, we helped them by Securing, Managing and Optimizing their Digital Estate providing them with 24/7 ITOps, CloudOps & SecOps Services. Our partnership led them to achieve an enhanced security posture, reduced MTTR by >45% and MTTD by >50%, and made them 100% compliant

Financial Services driving seamless customer experience using Data Analytics

The increasing sophistication of financial services and products has fueled the need for effective decision-making tools to enable better decisions from data insights. The arrival and application of data analytics have helped financial institutions optimize processes and streamline its operations, thus improving efficiency and competitiveness.

Locuz can help you leverage the power of data analytics, financial services institutions can gain valuable insights, improve their operations, and enhance their overall competitiveness in the marketplace.

Improve Decision Making: Data analytics can provide financial services institutions with valuable insights, enabling them to make more informed decisions about investments, customer behavior, and risk management
Increase Efficiency: Data analytics to streamline their operations, reducing manual processes, increasing accuracy, and improving overall efficiency
Enhance Customer Experience: Data analytics to better understand customer behavior and preferences, enabling financial services organizations to offer personalized services, improve customer satisfaction, and retain customers
Fraud Detection and Prevention: Data analytics to identify and prevent fraudulent activities, reducing financial losses and reputational damage
Regulatory Compliance: Data analytics to comply with regulatory requirements by providing visibility into transactions and other financial data

For one of the largest NBFCs in India, we partnered with them to implement Snowflake Data Cloud. The platform is integrated with Microsoft Power BI for real-time reporting and visualization

Streamlining Financial Services with Integrated Ops (iOps)

We provide centralized, streamlined approach to managing various operational processes and systems within the financial services industry with the end goal of improving operational efficiency, reducing operational risk, and enhancing overall operational performance by integrating various operational functions and systems into a unified framework. Our Services range from operational processes and systems, including trade processing, risk management, compliance, to reporting. With integrated ops strategic approach, we help financial institutions improve operational efficiency, reduce operational risk, and enhance overall operational performance.

Locuz can help you with

Improved Efficiency: By integrating various operational functions and systems, financial institutions can streamline processes and automate manual tasks, reducing the risk of errors and operational disruptions. This can result in lower costs and increased operational efficiency
Better Risk Management: iOps enables financial institutions to manage risks more effectively by providing a unified view of data and automating risk management processes. This can help organizations to identify and mitigate risks more quickly and effectively
Enhanced Compliance: Financial institutions are subject to a range of regulations, and iOps can help organizations to manage compliance more effectively. By integrating compliance processes and systems, financial institutions can ensure that they are meeting regulatory requirements in a timely and accurate manner
Increased Agility: iOps can help financial institutions to quickly respond to changes in the market and regulatory environment by enabling organizations to quickly modify processes and systems as needed. This can help organizations to remain competitive and responsive to changing market conditions

A Fintech Startup Company offering Digital Financial Services was facing key challenges like Regulatory Audits & Compliance, Cyber Security, Operational Efficiency and Cloud Adoption.We provided them with Integrated Managed Services including CloudOps, TechOps and SecOps. A 24/7 RIM /SOC services (Monitoring Team) and a Service Desk protecting their company against any Cyber Security Threats

Financial Industry