BANKING &
FINANCIAL SERVICES
FINANCIAL SERVICES
BUSINESS CONSULTING
The Banking and Financial Industry has been witnessing revolutionary changes in the wake of various financial regulations. The implementation of these new acts are likely to increase costs, potentially have a detrimental effect on profits, create new operational challenges and pose significant strategic questions; such as, how will institutions increase their return on equity while absorbing the costs of reporting to regulatory commissions, an increase in capital and the loss of some of their most profitable business.
The Banking and Financial Industry is facing some of these business events:
EXTENSIVE DATA REPORTINGValue Proposition: Regulatory Compliance & Risk Management Specialist
Massive regulatory overhaul reforms will force financial institutions to take a holistic view of both their operations and strategies. As part of the increased industry monitoring, firms will now be required to:
Our Regulatory Compliance and Risk Management Specialist works closely with you as a business partner to create and implement an integrated risk management solution and takes an all-inclusive approach to address your specific needs. Our work helps companies and financial institutions to effectively mitigate future challenges.
DATA & ID THEFT CONTROLValue Proposition: Card & Data Fraud Management Specialist
Recent regulations, such as, Dodd Frank, Durbin Amendment and Card Art would make it mandatory for financial institutions to implement and adhere to strict policies to prevent various data fraud and still maintain their revenue flow. The different types of fraud greatly affecting the profitability of institutions are:
Our Fraud Management Specialist assists financial institutions minimize fraud as part of an overall strategy to achieve high performance. We have identified three principles that serve as a foundation for fraud prevention and detection:
The Banking and Financial Industry has been witnessing revolutionary changes in the wake of various financial regulations. The implementation of these new acts are likely to increase costs, potentially have a detrimental effect on profits, create new operational challenges and pose significant strategic questions; such as, how will institutions increase their return on equity while absorbing the costs of reporting to regulatory commissions, an increase in capital and the loss of some of their most profitable business.
The Banking and Financial Industry is facing some of these business events:
EXTENSIVE DATA REPORTINGValue Proposition: Regulatory Compliance & Risk Management Specialist
Massive regulatory overhaul reforms will force financial institutions to take a holistic view of both their operations and strategies. As part of the increased industry monitoring, firms will now be required to:
- Develop more robust data capture
- Maintain storage of critical data
- Develop reporting systems
Our Regulatory Compliance and Risk Management Specialist works closely with you as a business partner to create and implement an integrated risk management solution and takes an all-inclusive approach to address your specific needs. Our work helps companies and financial institutions to effectively mitigate future challenges.
DATA & ID THEFT CONTROLValue Proposition: Card & Data Fraud Management Specialist
Recent regulations, such as, Dodd Frank, Durbin Amendment and Card Art would make it mandatory for financial institutions to implement and adhere to strict policies to prevent various data fraud and still maintain their revenue flow. The different types of fraud greatly affecting the profitability of institutions are:
- First-Party Fraud
- Identity Theft Card
- Counterfeit Card Fraud
Our Fraud Management Specialist assists financial institutions minimize fraud as part of an overall strategy to achieve high performance. We have identified three principles that serve as a foundation for fraud prevention and detection:
Real time fraud detection system technologies and tools should be layered to increase efficiency in fraud detection
Effective stress testing reporting mechanisms
Strengthening risk management and capital standards should be centralized within the organization
To find out more about TESCRA's work in this industry, please
CUSTOMER SUCCESS
STORY
STORY
Business Events: Increased complexity in wire payment mechanisms and increasing global trade made existing mechanisms and processes obsolete.
Approach: Leverage information technology to simplify and integrate various wire payment mechanisms. Use the latest business process management tools to automate business processes.
Recommendations: Implement single platform across all business channels and operational functions across all regions/locations providing wire/wholesale payment services.
Results: The single platform implementation has helped create a highly reliable, maintainable and extensible wire payment system. The unified system also allowed the creation of a single business activity monitoring dashboard that provides an enterprise wide view of wire payment operations.
Approach: Leverage information technology to simplify and integrate various wire payment mechanisms. Use the latest business process management tools to automate business processes.
Recommendations: Implement single platform across all business channels and operational functions across all regions/locations providing wire/wholesale payment services.
Results: The single platform implementation has helped create a highly reliable, maintainable and extensible wire payment system. The unified system also allowed the creation of a single business activity monitoring dashboard that provides an enterprise wide view of wire payment operations.
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