“Banking on the Future” White Paper Identifies How Technology is Forcing Retail Banks to Evolve While Empowering Consumers
BOSTON, Thursday, September 2nd 2010 [ME NewsWire]:
(BUSINESS WIRE)-- SapientNitro, part of Sapient (NASDAQ: SAPE), has partnered with online financial management solutions provider Geezeo and respected blogger and BANK 2.0 bestselling author Brett King to publish “Banking on the Future: New Era of Engagement Banking,” an interactive white paper that examines the impact of technology on the retail banking industry and outlines what banks can do to innovate and stay relevant.
“Welcome to the era of engagement banking,” said Alex Sion, vice president of financial services at SapientNitro. “Customers today demand an array of options at their disposal, including in-person contact at branches, online and mobile banking, interactive voice response systems, ATMs, direct mail, and more. There has been a dynamic power shift in the personal banking paradigm, and the consumer is now calling the shots.”
The report begins by discussing the time when community banks were the center of civic life. First, the ATM, then, digital technology – such as online banking and mobile banking – came along and changed the game. Digital channels made financial transactions efficient but also distanced banks from their customers. Relationships were cast aside in favor of more profitable, efficient and convenient channels.
A SapientNitro survey reveals that today 70% of people do not know the name of someone at their bank. Continues Sion: “Banks became bigger, lack of personal knowledge and understanding increased risks on both sides, the economy tanked, and consumer distrust swelled.”
In the midst of an economic downturn and financial legislation reform, perhaps nothing has affected the banking industry more in the past few years than the impact of technological innovations on customer behavior. The rapid mainstream acceptance and ubiquity of mobile smartphones with applications, the explosion of social media channels such as Facebook and Twitter, and the proliferation of online banking, bill paying, and personal finance tools have collectively made an indelible impact on the way customers prefer to interact with their banks. Banks have had to shift their focus from in-branch sales and services to engaging current and potential customers on their own terms – when, where and how it is convenient for the customer.
Brett King, author of BANK 2.0 adds: “Rapid changes in behavior, channel interactions, modality, brand equity and customer service expectations mean banks need to innovate around customers in development cycles measured in days and weeks, not months or years. These shifts in customer behavior are perhaps only just beginning.”
“At Geezeo, we’re seeing that customers are decreasingly making a distinction between what is physical, such as interpersonal interactions with bank tellers, and what is digital, such as online bill payment. We have found that bank customers expect a high level of customer service to be delivered seamlessly and consistently across multiple channels,” added Peter Glyman, co-founder of Geezeo. “Ironically, the same technology that disrupted the bank-customer relationship holds the key to closing the customer experience gap. Banks that leverage new tools, such as Personal Financial Management, to enhance the customer experience across touch points will be the winners.”
The “Banking on the Future” report provides insight into:
* How new technologies, such as geotagging, augmented reality, near field communications (NFC) and radio frequency identification (RFID), can enhance customer connectedness and engagement
* How the online banking experience can leverage Personal Financial Management (PFM)
* How mass adoption of mobile, mobile payments and person-to-person payments (P2P) will shape banking in the near future
* How to successfully engage with influencers via social media
* What innovative banks will do to drive improvements in operations and customer service in the next five years
“Banks must innovate or be disintermediated out of existence,” said King. “It wasn’t that long ago that we were using public phones to make calls, going to buy our music in stores and renting videos from the corner store, but these industries have been completely disrupted in recent times by changes in customer behavior. Unfortunately, the changes coming to the retail banking industry are even more massive and will challenge leaders in this space in the years ahead.”
The “Banking on the Future” interactive white paper can be viewed at: www.sapient.com/engagementbanking.
About SapientNitro
SapientNitroSM, part of Sapient®, is the world's first customer experience company. We create and engineer highly relevant experiences that accelerate business growth and fuel brand advocacy for our clients. By combining multi-channel marketing, multi-channel commerce, and the technology that binds them, we influence customer behavior across the spectrum of content, communication, and commerce channels, resulting in deeper, more meaningful relationships between customers and brands. SapientNitro services global leaders such as Citi, The Coca-Cola Company, Mars, Singapore Airlines, Target, and Vodafone through our operations in North America, Europe, and Asia-Pacific. For more information, visit http://www.sapientnitro.com or follow us on Twitter @sapientnitro.
About Geezeo
Founded in 2006, Geezeo offers an integrated suite of Online Financial Management (OFM) tools and services including Personal Financial Management (PFM) software for banks and credit unions. PFM empowers online customers, giving them a holistic view of their financial assets, liabilities and budgets. Geezeo’s unique platforms help financial institutions develop online customer dialog while generating growth through customer acquisition and increased wallet share. For more information on the privately held company, visit www.geezeo.com.
BANK 2.0 – How customer behavior and technology will change the future of financial services (Marshall Cavendish; March 2010) exposes the massive flaws in the retail banking system due to dramatic shifts that have taken place in customer behavior and the complete failure of banks to recognize and respond to those shifts. As a writer, King stimulates, entertains and challenges his readers to rethink long held traditions that are challenged by rapidly changing customer behavior. Whether a banker, an entrepreneur or a consumer of financial services – BANK 2.0 is an entertaining read that challenges the very concept of what banking means in today’s changing society. Follow Brett on Twitter @brettking, or watch his blog at http://www.banking4tomorrow.com.
Sapient is a registered service mark of Sapient Corporation.
For media enquiries, please contact:
Sapient
David LaBar, +1 646-478-9846
dlabar@sapient.com
Becker Public Relations
Jeanne Becker, +1 305-444-2181
jbecker@beckerpublicrelations.com
Showing posts with label Sapient. Show all posts
Showing posts with label Sapient. Show all posts
Thursday, September 2, 2010
Sunday, August 22, 2010
Sapient Global Markets Examines Financial Reform Legislation in “Crossings, The Journal of Trading and Risk Management”
Summer 2010 Issue Looks at Monitoring and Addressing System-Wide Risks and How Dealers, Exchanges, and Clearing Houses Will Respond to Mandates
BOSTON, Friday, August 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Sapient Global Markets, a division of Sapient (NASDAQ: SAPE), has published its Summer 2010 edition of Crossings, The Journal of Trading and Risk Management, that looks closely at the regulatory reforms proposed in Europe and the U.S. and the effect that these regulations may have on the global financial markets. This third installment of Crossing is now available as a PDF download at www.sapientglobalmarkets.com.
“At the end of May 2010, right as we were going to print this edition of Crossings, the U.S. Senate passed its version of financial reform legislation,” writes Chip Register, SVP and managing director, Sapient Global Markets. “It’s no coincidence that a majority of the topics covered in this edition are dedicated to the review and commentary of pending reforms, as well as potential future-state market structures. The scale and ambition of the overhaul is astounding and will shape the markets in the years ahead.”
Article titles in the Summer 2010 Crossings issue include:
- U.S. Financial Reform: overview and industry implications - Chris Ekonomidis and Ryan Baccus shed light on the committees and influencers involved in U.S. financial services regulation.
- OTC Derivatives: the evolution of market infrastructure - Bill Hodgson and Ryan Baccus highlight how far the infrastructure of the OTC (over-the-counter) derivatives market has evolved over the past four years to become more automated and discuss how some of the new market developments will address regulators’ concerns regarding transparency.
- Loan Trading: market reform - Bernadette Conway and Karl Page look at how some of the regulatory reforms in the U.S. and Europe will affect the trading of loans.
- Insurance: risk, regulation, and the path to Solvency II – Winn Faria and Paul Saunders offer an analysis of how potential regulation may affect various industries, and discuss the impact of Solvency II on the insurance sector.
- Regulatory Shifts and Lessons for Risk Management: an interview with Dynegy’s Rudi Zipter – As vice president of commercial trading at Dynegy, a leader in the energy sector, Zipter offers his unique insights on the trickle-down effect that pending financial market reforms may have on banking counterparties and explains the challenges of new reporting requirements and how organizations can be better prepared to meet them.
- Asset Management Technology and Process: alignment and evolution toward cross-asset operational efficiency - Mark Israel and Sean Smillie discuss how asset managers are moving toward a single technology platform that processes all trades across asset classes.
- OMS Evaluation: accommodating asset managers’ evolving needs - Kevin Masso and Anurag Mathur add to this technology discussion by outlining key considerations for upgrades or new implementations of Order Management Systems.
- OTC Derivatives Valuation: adoption of multiple pricing curves - Kevin Samborn investigates a remarkable new development in the derivatives market regarding how swap curves are valued.
- Energy Risk Management: toward a consistent approach – Tony West and Sunilkumar Ramakrishnan write on how energy trading companies are becoming more sophisticated in the way that they manage risk.
“In reviewing all of these articles, it is clear that whether you are involved in asset management, insurance, energy trading, or investment banking, regulatory reform will drive increased automation and transparency,” comments Jonathan Davies, vice president of Sapient Global Markets. “The reforms are likely to provide an impetus for many of our clients to better manage and understand their risks. The short-term effects of this improvement could be reduced market liquidity and costly implementation projects, while the strategic long-term outcome could be improved risk management. It is important, however, that the industries do not become over-regulated—with the cost to implement regulations driving key institutions out of the capital and commodities markets.”
For more insights from the third edition of Crossings, please visit: www.sapientglobalmarkets.com.
About Sapient Global Markets
Sapient Global Markets, a division of Sapient® (NASDAQ: SAPE), is a leading provider of services to today’s evolving financial and commodity markets. We provide a full range of capabilities to help our clients grow and enhance their businesses, create robust and transparent infrastructure, manage operating costs, and foster innovation throughout their organizations. We offer services across Advisory, Analytics, Technology, and Process, as well as unique methodologies in program management, technology development, and process outsourcing. Sapient Global Markets operates in key financial and commodity centers worldwide, including Boston, Chicago, Houston, New York, Calgary, Toronto, London, Amsterdam, Düsseldorf, Geneva, Munich, Zurich, and Singapore, as well as in large technology development and operations outsourcing centers in Bangalore, Delhi, and Noida, India. For more information, visit www.sapientglobalmarkets.com.
For media enquiries, please contact:
Sapient
David LaBar (US)
+1 646-478-9846
dlabar@sapient.com
Sapient
Gaynor Armit (UK)
+44 (0) 207 953 3579
garmit@sapient.com
BOSTON, Friday, August 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Sapient Global Markets, a division of Sapient (NASDAQ: SAPE), has published its Summer 2010 edition of Crossings, The Journal of Trading and Risk Management, that looks closely at the regulatory reforms proposed in Europe and the U.S. and the effect that these regulations may have on the global financial markets. This third installment of Crossing is now available as a PDF download at www.sapientglobalmarkets.com.
“At the end of May 2010, right as we were going to print this edition of Crossings, the U.S. Senate passed its version of financial reform legislation,” writes Chip Register, SVP and managing director, Sapient Global Markets. “It’s no coincidence that a majority of the topics covered in this edition are dedicated to the review and commentary of pending reforms, as well as potential future-state market structures. The scale and ambition of the overhaul is astounding and will shape the markets in the years ahead.”
Article titles in the Summer 2010 Crossings issue include:
- U.S. Financial Reform: overview and industry implications - Chris Ekonomidis and Ryan Baccus shed light on the committees and influencers involved in U.S. financial services regulation.
- OTC Derivatives: the evolution of market infrastructure - Bill Hodgson and Ryan Baccus highlight how far the infrastructure of the OTC (over-the-counter) derivatives market has evolved over the past four years to become more automated and discuss how some of the new market developments will address regulators’ concerns regarding transparency.
- Loan Trading: market reform - Bernadette Conway and Karl Page look at how some of the regulatory reforms in the U.S. and Europe will affect the trading of loans.
- Insurance: risk, regulation, and the path to Solvency II – Winn Faria and Paul Saunders offer an analysis of how potential regulation may affect various industries, and discuss the impact of Solvency II on the insurance sector.
- Regulatory Shifts and Lessons for Risk Management: an interview with Dynegy’s Rudi Zipter – As vice president of commercial trading at Dynegy, a leader in the energy sector, Zipter offers his unique insights on the trickle-down effect that pending financial market reforms may have on banking counterparties and explains the challenges of new reporting requirements and how organizations can be better prepared to meet them.
- Asset Management Technology and Process: alignment and evolution toward cross-asset operational efficiency - Mark Israel and Sean Smillie discuss how asset managers are moving toward a single technology platform that processes all trades across asset classes.
- OMS Evaluation: accommodating asset managers’ evolving needs - Kevin Masso and Anurag Mathur add to this technology discussion by outlining key considerations for upgrades or new implementations of Order Management Systems.
- OTC Derivatives Valuation: adoption of multiple pricing curves - Kevin Samborn investigates a remarkable new development in the derivatives market regarding how swap curves are valued.
- Energy Risk Management: toward a consistent approach – Tony West and Sunilkumar Ramakrishnan write on how energy trading companies are becoming more sophisticated in the way that they manage risk.
“In reviewing all of these articles, it is clear that whether you are involved in asset management, insurance, energy trading, or investment banking, regulatory reform will drive increased automation and transparency,” comments Jonathan Davies, vice president of Sapient Global Markets. “The reforms are likely to provide an impetus for many of our clients to better manage and understand their risks. The short-term effects of this improvement could be reduced market liquidity and costly implementation projects, while the strategic long-term outcome could be improved risk management. It is important, however, that the industries do not become over-regulated—with the cost to implement regulations driving key institutions out of the capital and commodities markets.”
For more insights from the third edition of Crossings, please visit: www.sapientglobalmarkets.com.
About Sapient Global Markets
Sapient Global Markets, a division of Sapient® (NASDAQ: SAPE), is a leading provider of services to today’s evolving financial and commodity markets. We provide a full range of capabilities to help our clients grow and enhance their businesses, create robust and transparent infrastructure, manage operating costs, and foster innovation throughout their organizations. We offer services across Advisory, Analytics, Technology, and Process, as well as unique methodologies in program management, technology development, and process outsourcing. Sapient Global Markets operates in key financial and commodity centers worldwide, including Boston, Chicago, Houston, New York, Calgary, Toronto, London, Amsterdam, Düsseldorf, Geneva, Munich, Zurich, and Singapore, as well as in large technology development and operations outsourcing centers in Bangalore, Delhi, and Noida, India. For more information, visit www.sapientglobalmarkets.com.
For media enquiries, please contact:
Sapient
David LaBar (US)
+1 646-478-9846
dlabar@sapient.com
Sapient
Gaynor Armit (UK)
+44 (0) 207 953 3579
garmit@sapient.com
Wednesday, July 21, 2010
Sapient Global Markets Partners with Numerix to Provide Integrated Pricing and Analytic Solutions for the Financial and Commodities Markets
BOSTON & NEW YORK, Wednesday, July 21st 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Sapient Global Markets, part of Sapient (NASDAQ: SAPE) and a leading provider of services to today’s institutional financial and commodity markets participants, and Numerix, a leading provider of cross-asset analytics for derivatives valuations and risk management, today announced a global partnership agreement to provide combined capabilities to clients of both organizations.
From front-office to back, Numerix analytics enhance every stage of the derivatives-management process, providing broader instrument coverage, better transparency and improved efficiency throughout the enterprise. As partners, the two companies will work together for shared customers to provide advanced, integrated pricing and analytics solutions for derivatives and structured products across a broad range of asset classes.
“Numerix offers customized solutions to specialized requirements from a few trades to a complete STP system for exotics,” said Chip Register, SVP and Managing Director, Sapient Global Markets. “This partnership is a great fit for Sapient clients that typically customize Numerix to support specific models and products as well as integrate them into their own systems, as it requires a unique combination of programming, integration and financial domain expertise that only Sapient can provide.”
“As experts in the field of risk analytics, not only does Sapient understand the challenges of active market participants, but they take you from advisory consulting through to systems implementation and outsourcing,” said Steven R. O’Hanlon, President and COO of Numerix. “The combination of Sapient’s world class delivery and Numerix’s high end technology will provide countless benefits to customers of both organizations.”
Known for its high performance models and the flexibility of its platform to support new financial products, Numerix provides tools for price validation of hard-to-value derivative instruments across all asset classes including interest rates, credit, equities, foreign exchange, and commodities. Its flexible analytics platform is capable of supporting the full range of front-to back-office operations through its stand-alone applications and integrated solutions.
Sapient Global Markets is uniquely focused on trading and risk management and offers deep practitioner-based expertise to help customers grow and transform their business. As a strategic advisor to members of the global financial and commodity markets community, Sapient provides a comprehensive offering to its world-class clientele through practitioner led advisory, technology and process services. Sapient helps customers navigate regulatory change, valuation and risk management challenges. Through its Risk Analytics practice, Sapient will apply its project management expertise to deliver advisory and technology projects around Numerix libraries and tools.
About Numerix
Numerix is the award winning, leading independent analytics institution providing cross-asset solutions for structuring, pre-trade price discovery, trade capture, valuation and portfolio management of derivatives and structured products.
Since its inception in 1996, nearly 700 clients - including more than 400 direct customers and 200 indirect customers through our 50 partnerships in over 25 countries - have come to rely on Numerix analytics for speed and accuracy in valuing and managing the most sophisticated financial instruments. With offices in New York, London, Tokyo, Hong Kong, Singapore and Dubai, Numerix brings together unparalleled expertise across all asset classes and engineering disciplines. For more information, please visit www.numerix.com.
About Sapient Global Markets
Sapient Global Markets, a division of Sapient® (NASDAQ: SAPE), is a leading provider of services to today’s evolving financial and commodity markets. We provide a full range of capabilities to help our clients grow and enhance their businesses, create robust and transparent infrastructure, manage operating costs, and foster innovation throughout their organizations. We offer services across Bencharking, Advisory, Technology, and Process, as well as unique methodologies in program management, technology development, and process outsourcing. Sapient Global Markets operates in key financial and commodity centers worldwide, including Boston, Chicago, Houston, New York, Calgary, Toronto, London, Amsterdam, Düsseldorf, Geneva, Munich, Zurich, and Singapore, as well as in large technology development and operations outsourcing centers in Bangalore, Delhi, and Noida, India. For more information, visit www.sapientglobalmarkets.com.
Sapient is a registered service mark of Sapient Corporation.
For media enquiries, please contact:
Numerix Media:
Todd Swearingen,
+1 646-898-1294
tswearin@numerix.com
Sapient Media:
Allison Hagan,
+1 215-370-4645
consulthagan@gmail.com
(BUSINESS WIRE)-- Sapient Global Markets, part of Sapient (NASDAQ: SAPE) and a leading provider of services to today’s institutional financial and commodity markets participants, and Numerix, a leading provider of cross-asset analytics for derivatives valuations and risk management, today announced a global partnership agreement to provide combined capabilities to clients of both organizations.
From front-office to back, Numerix analytics enhance every stage of the derivatives-management process, providing broader instrument coverage, better transparency and improved efficiency throughout the enterprise. As partners, the two companies will work together for shared customers to provide advanced, integrated pricing and analytics solutions for derivatives and structured products across a broad range of asset classes.
“Numerix offers customized solutions to specialized requirements from a few trades to a complete STP system for exotics,” said Chip Register, SVP and Managing Director, Sapient Global Markets. “This partnership is a great fit for Sapient clients that typically customize Numerix to support specific models and products as well as integrate them into their own systems, as it requires a unique combination of programming, integration and financial domain expertise that only Sapient can provide.”
“As experts in the field of risk analytics, not only does Sapient understand the challenges of active market participants, but they take you from advisory consulting through to systems implementation and outsourcing,” said Steven R. O’Hanlon, President and COO of Numerix. “The combination of Sapient’s world class delivery and Numerix’s high end technology will provide countless benefits to customers of both organizations.”
Known for its high performance models and the flexibility of its platform to support new financial products, Numerix provides tools for price validation of hard-to-value derivative instruments across all asset classes including interest rates, credit, equities, foreign exchange, and commodities. Its flexible analytics platform is capable of supporting the full range of front-to back-office operations through its stand-alone applications and integrated solutions.
Sapient Global Markets is uniquely focused on trading and risk management and offers deep practitioner-based expertise to help customers grow and transform their business. As a strategic advisor to members of the global financial and commodity markets community, Sapient provides a comprehensive offering to its world-class clientele through practitioner led advisory, technology and process services. Sapient helps customers navigate regulatory change, valuation and risk management challenges. Through its Risk Analytics practice, Sapient will apply its project management expertise to deliver advisory and technology projects around Numerix libraries and tools.
About Numerix
Numerix is the award winning, leading independent analytics institution providing cross-asset solutions for structuring, pre-trade price discovery, trade capture, valuation and portfolio management of derivatives and structured products.
Since its inception in 1996, nearly 700 clients - including more than 400 direct customers and 200 indirect customers through our 50 partnerships in over 25 countries - have come to rely on Numerix analytics for speed and accuracy in valuing and managing the most sophisticated financial instruments. With offices in New York, London, Tokyo, Hong Kong, Singapore and Dubai, Numerix brings together unparalleled expertise across all asset classes and engineering disciplines. For more information, please visit www.numerix.com.
About Sapient Global Markets
Sapient Global Markets, a division of Sapient® (NASDAQ: SAPE), is a leading provider of services to today’s evolving financial and commodity markets. We provide a full range of capabilities to help our clients grow and enhance their businesses, create robust and transparent infrastructure, manage operating costs, and foster innovation throughout their organizations. We offer services across Bencharking, Advisory, Technology, and Process, as well as unique methodologies in program management, technology development, and process outsourcing. Sapient Global Markets operates in key financial and commodity centers worldwide, including Boston, Chicago, Houston, New York, Calgary, Toronto, London, Amsterdam, Düsseldorf, Geneva, Munich, Zurich, and Singapore, as well as in large technology development and operations outsourcing centers in Bangalore, Delhi, and Noida, India. For more information, visit www.sapientglobalmarkets.com.
Sapient is a registered service mark of Sapient Corporation.
For media enquiries, please contact:
Numerix Media:
Todd Swearingen,
+1 646-898-1294
tswearin@numerix.com
Sapient Media:
Allison Hagan,
+1 215-370-4645
consulthagan@gmail.com
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