BFSI EIIR (Engineering, IoT, Industry 4.0 and R&D) Trends Q-2 2019

How are BFSI leveraging R&D service providers? (Deals/Contracts/ Partnerships)

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    Persistent is improving customer reach through enhanced digital experiences for a US-based financial products and services company

  • 2

    Persistent is designing and developing tools for effective cash management implementation for one of the largest global investment banking enterprises

  • 3

    Persistent is developing a cloud-based loan application system for a US-based bank

  • 4

    Persistent is building an end-to-end portfolio management platform on OutSystems for a cloud-based credit management technology solutions provider in the United States

  • 5

    Persistent is strengthening the security experience of customer-centric web portals for a US-based bank

How are BFSI enterprises organizing their R&D? (GICs/ R&D Best Practices/Solutions)

  • 1

    Silicon Valley Bank will increase its GIC headcount in Bengaluru to 250 from current headcount of 50.

  • 2

    NongHyup Financial Holdings opened South Korea’s biggest FinTech hub called ‘NH Digital Innovation Campus’ and it has started promoting 33 promising startups. It is comprised of Digital R&D Center and NH Fintech Innovation Center. Digital R&D Center is going to strengthen NongHyup Bank’s unrivaled abilities in open APIs (Application Programming Interface) even more and develop innovative business models based on new technologies such as AI (Artificial Intelligence), blockchain, and Cloud.

  • 3

    Mastercard to double India headcount to 4,000 in five years

  • 4

    Chinese fintech PINTEC has opened new international headquarters in Singapore, The company is now planning to build up a research and development center in Singapore to enhance products and services and develop advanced technologies to offer customized solutions to business and financial partners in international markets.

  • 5

    Goldman Sachs invests $250 Million in a new center in Bengaluru which can host 7300 people. Currently its strength is 5000 including 2500 engineers (second highest globally for GS after New York). It has been growing 24% yoy and will continue to hire more engineers. All GS business now have India component.

  • 6

    Palo Alto-based Symphony encrypted fintech cloud messaging unicorn setup R&D center in France

How are BFSI engineering service providers developing their solutions and capabilities?

BFSI industry news

  • 1

    Brazilian unicorn Nubank is looking for 400 techies from anywhere in the world.

BFSI resources: consultant/ analyst updates

  • 1

    Roland Berger: Ranking the banks (Link)

  • 2

    McKinsey: Blockchain and retail banking: Making the connection (Link)

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