Financial Services
- 2008 Global Financial Leadership Forum (GFLF), November 16-18, New York, NY.
A Presence In the Financial Industry
More About the Financial Services Industry
Today's financial services firms face mounting pressures on all fronts:
- Credit markets are creating industry turmoil
- Tightening credit guidelines that threaten revenue streams
- Growing reporting and risk management obligations like Sarbanes-Oxley, Know Your Customer and Basel II
- The difficulties of sustaining growth in overly-saturated markets
- Innovative products that address the needs of a diverse client base such as retirees and young emerging and ethnic segments
- Growing concerns over customer data security and identity management
- Increasing competition not just from traditional competitors, but from other organizations that expand their service offerings
- The complexities that arise from mergers and acquisitions and from expanding into the global marketplace
Whether you're trying to maintain competitive advantage, looking for ways to position yourself better for mergers or acquisitions or expanding into the global marketplace, the challenges are as complex as they are varied. And while you deal with these fundamental concerns, you're met with increasing demands from investors, regulators and customers.
Converged Communications Network For Financial Services
During the next five years, converged communications technologies will enable banks to streamline their operations and optimize costs. Banks that leverage the business implications of these technologies will be able to improve customer service, accelerate product delivery and enhance their competitive position.
Read more about Converged Communications Network For Financial Services
The Answers
How do you succeed in this environment? The first step is to ensure that you have the infrastructure and solutions to support your business strategy. With the right systems in place, your organization can more rapidly comply with regulations, operational risk and security issues. You can also open up new product offerings, reduce customer turnover and minimize fixed costs and maximize productivity. In addition, you can leverage outsourcing opportunities to reduce overhead, while still enjoying the scalability you need to support future growth or new initiatives.
For nearly 40 years, EDS has provided consulting, business and information technology (IT) services to more than 200 financial institutions around the world, helping them tackle the most critical issues they face, while opening up a new realm of possibilities.
- Banking
- EDS is behind some of the leading innovations in the banking world today. Through EDS, you can access consulting and implementation services in key areas such as CRM, business process outsourcing, check processing, consumer card and loan services, legacy transformation, SOA capabilities and much more.
- Capital Markets
- Align your business and IT strategies to help uncover ways to minimize costs, automate processes, support compliance and address other business and technology issues.
- Insurance
- Take advantage of core services such as technology and call-center outsourcing and applications transformation to increase profitability, meet regulatory requirements and improve customer service.
The Right Approach For the Right Results
More than 15,000 EDS professionals are dedicated specifically to helping clients in the financial services industry improve performance and increase profitability. We specialize in providing solutions that deliver rapid, tangible results and measurable ROI, without disrupting day-to-day operations. Our Designed for RunTM and Always OnTM processes help you attain higher productivity to drive real results. For example:
- A leading regional bank discovers how a 1 percent increase in retention can lead to a 6 percent increase in profitability.
- A financial institution with a 25-year-old legacy system gains a competitive edge by adding online banking capabilities within a three-month engagement.
- A California-based insurer updated its aging systems to enable self-service capabilities – and produced a projected five-year net benefit of more than $29 million.
- An institution with more than 1,200 branches consolidated its systems to create substantial efficiencies; for example, payroll batch cycles that once took 17 hours are now completed in three hours.
- Download the Security and Privacy for Financial Institutions Business Issue Overview
- Download the Challenges in the Insurance Industry Overview
- See our services related to the Financial Services Industry
Financial Services Industry Contact Information
EDS Financial Services Leader: Michael Coomer
Michael Coomer is the global leader of EDS' Global Financial Services group. He brings to this position more than three decades of information technology (IT) experience, including deep expertise across the financial services, telecommunications and defense industries. As global leader, he works to strengthen the company's market share in the global financial services arena, which represents more than $4 billion in annual revenue for EDS in 30 countries.
Read the Michael Coomer biography.
EDS Vice President, U.S. Financial Services Industry: Mark DeBenedictus
Mark DeBenedictus is vice president of U.S. Financial Services. He is responsible for leading business operations and driving growth in this multibillion dollar market including banking, insurance and capital markets. In this role, DeBenedictus oversees development of industry strategy, client relationships, and go-to-market plans for industry solutions and business partners in Canada, Mexico and the United States.
Download the Mark DeBenedictus biography.
EDS Vice President, Global Financial Industry: Steve Ingram
Steve Ingram is vice president and leader of the Global Financial Industry for EDS. Ingram is responsible for developing and driving financial industry-specific solutions that address clients' business challenges and issues.
Download the Steve Ingram biography.
For more information about what EDS can do for you, submit a business inquiry.
Financial Services Industry
Behind the success of the world's leading financial institutions is an ally, EDS. Helping with CRM, business process outsourcing, check processing, and consumer card and loan services, EDS minimizes their costs and optimizes their productivity.