Banking & Financial services

Senate® understands the current economic situations, business and technology issues. In today's global banking landscape, banks must position for growth on the rebound to compete and achieve high performance. Senate® has the global capabilities to help clients succeed by tapping a reservoir of consulting, technology and outsourcing services. These services are complemented by deep banking & financial services industry expertise.

We work with different financial institutions globally, using our applied knowledge and skills of the financial services market gained over the years. Some of the world’s top financial institutions including corporate and retail banks, financial clearing houses, general and commercial insurers, and regulators rely on us. Senate® provides solutions that reduce the risk for clients implementing transformed business processes.

Competing in the capital markets today requires companies to set a new course. The speed of recent change has shown the need for companies to continuously evaluate all parts of their business, adapt their positioning and review their business model to stay successful. Senate® leverages its understanding of high performance to help capital markets firms compete effectively. Financial services institutions face the challenge of addressing current economic situations. These institutions simultaneously prepare for tomorrows evolving marketplace.

Senate® has extensive experience in banking, insurance and capital markets. We can streamline your business processes through service-oriented, component-based architectures. These architectures can be reused across multiple business processes and applications.

Senate® helps to manage risk and ensure you get the maximum benefit from your technology investments. This allows you to focus on product development and services that allow you to grow and strengthen your position in the marketplace.
Banking & financial services institutions must offer product innovation and improve their customer service. This offers the institutions to remain competitive while providing a suitable return to their stakeholders in today’s market. It is achieved in an environment of increasing regulation, current cost efficiency challenge, effective management of risk and the more sophisticated measurements of economic capital.

Senate® has served four different financial services market segments:

• Capital Markets — asset management, sales and trading, investment banking
• Personal Financial Services — retail banking and brokerage, consumer financial services, private and high-net-worth banking
• Insurance — life, property and casualty, risk management, reinsurance
• Corporate Banking — payments and transaction processing, middle market banking

Many banking and financial institutions have enjoyed record profit growth in recent years. This makes the problem even harder. Where will future profits come from? How will these institutions invest to gain market share or grow revenue? As the structure of the financial services market continues to evolve, these pressures threaten traditional sources of revenue thereby making such questions harder to answer.

To achieve economies of scale and specialization, complex systems and processes must be streamlined and optimized. Shareholders and executives need to see the benefits of mergers and acquisitions on the bottom line quickly. It is essential that IT business solutions & outsourcing companies reduce costs and deliver new services to their customers ahead of the competition.

Consolidation of specific processes within an organization enhances the visibility of costs, revenues and margins. Firms can select ideal sourcing models: whether to invest or divest, to in source or to outsource, based on cost reduction or revenue growth objectives. It also challenges organizations to link business, operations and technology in a seamless process.

The growing requirement to satisfy industry regulators obliges banking & financial services companies. This helps to improve and refine risk processes and management and monitor liquidity and collateral in more sophisticated ways. Simply complying with much of the new regulation could increase overheads significantly. The trick is to use the change brought about by regulation to change the business process, improve the business model and grab new revenues. Whatever the requirement, there is a need for efficient data capture, manipulation and management.

We help our financial services clients manage change through many different solution sets. Here is an example of a few:

• Legacy Modernization — Upgrade and modernize your older applications to enable them in achieving the same benefit of newer applications.
• IT Security Solutions — Tailor security solutions to your needs, fix security issues at the root cause, and deliver cost-effective security with minimal disruption to your business.
• Service-Oriented Architecture — The means to deliver integrated business applications in a timely fashion with the least amount of intervention to change application code or structure.
• CRM — Managing customer relationships to improve revenue and retention.
• IT Outsourcing — Providing the right mix of outsourced, managed, and project services to deliver the greatest business value.
• Wireless Solutions — Effectively and efficiently create mobile office solutions and provide higher levels of customer care.

Senate® provides the following services to our financial industry clients:

• Back-office integration
• Content management
• Customer Relationship Management (CRM)
• Electronic Business & Internet
• Outsourcing Services
• Security architecture
• Third-party integration
• Wireless Banking