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Sungard_Digital_September2015_FINAL

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  1. 1. SECURITIES BROKERAGE SELECT Moving into the self-service environment Break through.
  2. 2. SunGard Moving into the self-service environment Introduction Technology consumption in general is transforming the way companies conduct their operations and manage their businesses. By 2020, an entire generation — Generation C (C for “connected”) — will grow up in a primarily digital world, according to PwC.1 Inarguably, this will transform how people work, interact with businesses, and consume information. Increasingly, members of Generation C demand location- agnostic, virtual workplaces that enable mobility to work anywhere at any time. And with single sign-on technology, they have complete access to their files and systems via whichever mobile device they have in hand — all without assistance from IT departments — and enjoying a seamless work experience. Nowhere is digitalization felt more directly than at banks and financial services firms. Management teams are nearly unanimous in agreeing they need to accelerate the transformation of their working environment and their customer-engagement model. But despite significant investments in technology upgrades and replacement of legacy systems, banks seem unsure just how far along they are in this transformation. A recent survey on regulatory change and transformation in the financial services industry revealed that nearly half (49 percent) of capital markets businesses are still in the “assessing and planning” stage of digital transformation, while an additional 20 percent conceded to having only just begun.2 Regulation of the financial services industry also complicates the task, as more rules and standards are implemented almost daily. Adding to the regulatory and typical competitive pressures, the industry now finds itself in the firing range of unregulated FinTech disruptors, which see financial services as a sector ripe for digital disruption, claiming that the industry is “built mostly on spreadsheets, Rolodexes and phone calls.” 3 Such talk, to a degree, is hyperbole. Few other industries have spent so heavily on technology. Banking and securities firms’ IT investments are estimated to have grown 3.6 percent in 2014, to nearly $480 billion, according to advisory firm Gartner.4 Nonetheless, the industry itself seems uncertain as to whether it has the infrastructure it really requires for true digitalization, with 33 percent of recently surveyed firms saying that a lack of technology was holding back transformation efforts (see Figure 1).5 Figure 1: What are the main obstacles to business transformation in your organization? SOURCE: HTTPS://WWW.KPMG.COM/US/EN/ISSUESANDINSIGHTS/ ARTICLESPUBLICATIONS/DOCUMENTS/KPMG-CAPITALMARKETS-2015.PDF To be sure, digitalization in the financial services industry is an all-embracing term. In reality, it encompasses a two-pronged effort: the external-facing client model and the internal operational model. Our focus here is on the challenges facing firms internally as they seek a digitalized transformation. Some key challenges include: Systems: Building location- and device-agnostic systems that can be accessed anywhere, at any time with a single login User-friendly experience: Moving to a more streamlined and consistent experience where employees and managers are guided through steps to remediate a concern Automation: Automating business processes to the greatest degree possible, and integrating exceptions management Self-service culture: Creating a self-service environment Documentation: Presenting documentation in a manner that promotes more valuable interactions with customers and team members Centralization: Breaking down the silos between the different functional areas, and opening up the possibility of more actionable information and streamlined processes Collaboration: Fostering greater teamwork by providing social platforms where employees can share insights and ideas Flexibility: Providing an on-demand solution that can be scaled to accommodate business needs Security: Performing all this in a secure environment fully compliant with multiple regulatory agencies 1 HTTP://WWW.STRATEGYAND.PWC.COM/GLOBAL/HOME/WHAT-WE-THINK/ DIGITIZATION/MEGATREND 2 HTTP://WWW.KPMG.COM/US/EN/ISSUESANDINSIGHTS/ARTICLESPUBLICATIONS/ DOCUMENTS/FS-REGULATORY-TRANSFORMATION.PDF 3 HTTP://WWW.CRAINSNEWYORK.COM/ARTICLE/20140902/TECHNOLOGY/308319990/ FINTECH-RESHAPES-WALL-STREET 4 HTTP://PFNYC.ORG/WP-CONTENT/UPLOADS/2014/06/NY-FINTECH-REPORT-2014.PDF 5 HTTPS://WWW.KPMG.COM/US/EN/ISSUESANDINSIGHTS/ARTICLESPUBLICATIONS/ DOCUMENTS/KPMG-CAPITALMARKETS-2015.PDF Unable to quantify metrics of success Regulatory changes Prioritizing business transformation Lack of change management Lack of technology 29% 31% 33% 33% 29%
  3. 3. SunGard Moving into the self-service environment Building a mobile solution that suits your organization In building a mobile solution for your organization, it is critical to create a technology platform with systems and processes that are device-agnostic, yet capable of providing access to data in a flexible user experience. These systems must offer a single login, the interface must be intuitive and user-friendly, and it must be consistent with a culture that puts a premium on self-service. The technology must be a centralized, seamless solution that automates and streamlines the user experience, with the goal of achieving straight-through processing. It must include accurate and complete documentation, collaborative tools and social media capabilities where employees can comment, offer insights and make suggestions. And most importantly, it must be secure. As an example, SunGard’s secure cloud-based securities processing solutions provide firms with flexibility and rich feature sets that can be scaled according to business needs, allowing companies to apply IT spend toward mission-critical growth and revenue-generating efforts. Conclusion Digitalization consists of much more than simply installing new software and hardware to achieve greater efficiencies. It involves transforming operating models and simplifying processes to deliver a new level of engagement to meet the needs of consumers. Cloud-based solutions offer adaptive enterprises a more agile approach to technology that will generate greater productivity and acceptance in the marketplace. It is important that financial services firms embrace opportunities for digital technology transformation. Firms that remain burdened with legacy systems will find it increasingly difficult to remain relevant to Generation C and stay competitive.
  4. 4. ©2015 SunGard. Trademark Information: SunGard, and the SunGard logo are trademarks or registered trademarks of SunGard or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders. 0379 About SunGard’s operations and technology solutions SunGard’s global post-trade, operations and asset-servicing solutions help securities and derivatives market participants efficiently manage their front-, middle- and back-office processes and workflows. Offered in proven managed services, business process as a service (BPaaS) and standardized utility platform environments, our cross-asset solutions integrate with SunGard’s trading, risk and compliance solutions; automate connectivity with exchanges and clearinghouses; and provide integrated trade matching, settlement, accounting, reconciliations, and corporate actions automation to help improve scale, efficiency and straight-through processing across the enterprise. Firms around the world use our operations and technology solutions to increase transparency and reduce operational complexity, risk and total cost of ownership. For more information, please visit www.sungard.com/posttrade Enabling the adaptive enterprise Sitting at the intersection of technology and finance, SunGard is focused on delivering fresh ideas and inventive solutions to help our customers adapt and thrive in an ever-changing environment. With a blend of software solutions, cloud infrastructure, global service capabilities and deep domain expertise, SunGard is capable of supporting virtually every type of financial organization, including the largest and most complex institutions in the world. For more information, please visit www.sungard.com getinfo@sungard.com www.sungard.com twitter.com/sungard linkedin.com/company/sungard

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