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Banking , Financial Services & Insurance

Industry Solution

Continuing changes in technology and the growing pressure to increase shareholder value are driving globalization, consolidation and convergence in the banking industry. Newly empowered customers expect customized, easily accessible services that are easy to use and reliable. Organizations within the banking industry are creating strategies and implementing changes that use technology solutions to reinvent their business, making processes more efficient and exploring new ways to be responsive to customers. The value of a formal quality management and testing approach is fundamental to these changes and to ultimately delivering the enhanced business value. Invariably, these issues and business opportunities center on the need to implement IT solutions that are customer facing and therefore the criticality of the system meeting the customer requirements is paramount.
The fast pace of change in the global financial services industry has created the need for a new generation of complex IT solutions that operate in real time with continuous availability and reliability. The challenges faced by the industry are forcing organizations to keep pace with technological advances and to become more proactive and efficient while reducing costs. It is widely acknowledged that around 50-60% of future IT initiatives will be concerned with compliance, with Sarbanes Oxley, Basel II (Europe) and MiFID (Europe) at the top of the list. A further third of IT investment will be focused at reducing costs of operations. Our clients are facing challenges to:

  • Increase business performance and reduce operational cost structures in IT and business areas
  • Maximize customer loyalty and retention to ensure potential for continued growth
  • Implement more rigor within risk management and corporate governance from board level downwards
  • Build on opportunities from market concentration and globalization, with a particular focus on the need to gain operational synergies from mergers and acquisitions
  • Respond to regulatory and government changes and leveraging these changes to provide business opportunity

Y Axis’s quality management and services utilize its many years of banking experience across the globe to support clients who view technology as a business enabler and see the importance of getting implementation right first time. Integration of large, widely distributed systems is more and more complex. Y Axis services are designed specifically to identify and manage these systems effectively. Y Axis has extensive experience and in-depth understanding of the financial services industry, continually delivering result-oriented and cost-effective services to support our clients around the world to help them meet the challenging requirements of the industry. In the current climate, the financial services industry is driven by the following issues and business opportunities:

  • Compliance and regulatory changes
  • Improving customer service and retention of customers
  • Reducing operating costs across both the business and IT
  • Acquiring new customers through competitive market initiatives
  • Mergers and Acquisitions across the industry
  • Technological changes such as Vista and SOA based solutions

Y Axis Inc is focused on delivering quality management and solution services that support clients implementing solutions for their customers across the globe. The knowledge gained from numerous engagements across the financial services industry ensures that the client not only has testing expertise available, but also benefits from the value added knowledge of the industry and the need to deliver business results.