As one of the largest enterprise providers to the financial services industry, HP’s financial services strategy has been formed by experience. That experience includes a significant presence in the top 200 banks, top 50 brokerages, top 25 insurance carriers and all 100 of the world’s major stock and commodity exchanges.

From those relationships, and others with firms of various sizes, HP has targeted four key business priorities that can be addressed through industry solutions: customer service, control & compliance, efficiency and outsourcing/offshoring.

Customer Service

Firms are increasingly being challenged to integrate their channels, enhance service and improve sales to remain competitive. In order to cross-sell, up-sell and grow wallet-share, a single 360 view of the customer with actionable CRM is becoming a necessity. To retain and grow the customer base, firms need the ability to provide a consistent customer experience across all touchpoints.

Compliance

Whether it’s Sarbanes-Oxley or the Patriot Act in the U.S.; International Accounting Standards in the EU; or Basel II for financial firms that operate around the world, today’s regulatory environment has placed growing system requirements on financial companies. These regulations require an understanding of data management, a renewed emphasis on data quality and a heightened sensitivity to IT risks such as business continuity and security. HP’s Compliance Suite provides a mix of prepackaged and integrated solutions that close data gaps, manage risks and implement best practices cost effectively.

Efficiency

Competitive and cost pressures are making it essential for financial firms to get the most speed and efficiency out of IT environments without skyrocketing costs. Today, improvements in business process management are helping firms streamline their business processes, shift processes from paper to digital form, implement STP and transform their core banking infrastructures. In addition, service-oriented architecture solutions are helping firms better leverage their legacy environments while improving their ability to scale and adapt to changes in the market.

Outsourcing/Offshoring

Financial firms have been among the most aggressive in taking advantage of outsourcing and offshoring in order to contain costs and direct their attentions to core lines of business. HP has a complete line of services for outsourcing back-office processes, IT infrastructure and management, and customer service. HP has a proven methodology to ensure a smooth transition and implementation of processes involving complex financial models and detailed systems integrations. HP’s infrastructure management services will identify and correct redundancies and bottlenecks and manage upgrades, while maintaining a reliable and secure infrastructure. Through onshore and offshore facilities, HP can provide global multilingual customer service support to meet service level targets around the clock.

Several of HP’s solutions serve many of these capacities at once. By turning data into structured information, HP’s Enterprise Content Management Solution solves compliance concerns while at the same time boosting customer service by ensuring rapid delivery of consistent documents.

HP Open Bank is a message-based, service-oriented architecture that can integrate customer delivery channels, core processing systems and data warehouses to enable a complete customer view. The full integration can also aid firms with compliance and help firms to consolidate systems and reduce infrastructure costs.

At the branch level, branch automation is required to allow banks to provide faster and more targeted service. With HP’s Branch Transformation, a single monthly payment per branch provides banks with tighter control of technology through a complete solution for acquisition, management and support of the branch’s IT infrastructure. It’s not limited to the branch. ATM Transformation has afforded banks similar control over the ATM channel and Exchange transformation has extended this efficiency to stock and commodity exchanges.

HP has 30 years of experience in the financial services industry. A global financial services industry team collaborates across different countries and regions. A board of advisors of C-level executives from insurance companies, banks and capital markets firms share ideas with the financial services industry team about emerging challenges and opportunities. Through HP Labs, technology innovation is being focused toward specific industry challenges, and innovation centers are being built around the world. With a $4 billion R&D budget and cooperative R&D efforts with industry partners, HP is poised to continue its leadership performance.

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