Financial Services

HighPoint Solutions provides IT transformation and core banking services to financial institutions across the globe. It helps organizations in improving efficiency, reducing cost, meeting risk and compliance requirements and implementing appropriate IT architecture and getting the most out of its technology investments.

HighPoint Solutions uses its in-depth knowledge and understanding of the banking and technology trends to provide innovative yet practical solutions.    More...

The financial services industry is constantly changing, always trying to adapt to the latest trends in customer service expectations and growing compliance requirements. In such a scenario the biggest challenge facing the bank’s CIO is to balance the need to continuously respond to the business requirements and at the same time run the various technologies, applications and infrastructure components in the most efficient manner.

In such an environment, choosing the right partner who understands the business issues and has the capability to significantly reduce go to market timeframes without compromising the quality and efficiency of the applications and support is extremely important.

HighPoint Solutions' team of highly experienced domain, technology and product experts are constantly reviewing technology and business trends in the financial services marketplace to provide innovative solutions to its customers.

Our experience over the years has given us the ability to provide a variety of proven and new solutions to its customers.

HighPoint Solutions' core banking solutions are designed to help banks realize the maximum potential of their core banking investments. HighPoint uses its deep product and domain expertise to provide solutions that address the bank’s unique business requirements.

HighPoint Solutions' core banking solutions address the following key business issues currently facing majority of banking institutions:

1. Product implementations
2. Conversions
3. Application integration SOA implementation
4. Application support and enhancements
5. Application quality and test services

HighPoint Solutions' consultants has years of experience in helping its clients implement a variety of core banking products ranging from mainframe to the latest unix based banking systems in multiple geographies. Based on the type of implementations, HighPoint will deploy experienced deposit or lending experts that will work very closely with the business side of the bank to ensure all the requirements of the clients are met. HighPoint follows a proven methodology to manage the implementations from requirements gathering phase all the way to user acceptance testing and move to production environment. HighPoint will work with its clients to mitigate the risk associated with such large initiatives and create ROI models that will provide the best mix of risk mitigation and speed to implement such systems. Using a well defined project management capability, we continuously keep our clients updated of the project progress and provide inputs to ensure the programs remain on track.

With every product implementation, there is usually a need to convert customer records from existing client environments over to the new applications. The conversions can be done all at once or in a phased manner. Mergers also create the need to consolidate customer records provided a unified view of the client base.

HighPoint Solutions, with a number of client conversions under its belt, comes prepared to help its customers manage conversions with the least impact on existing operations. Our pre defined data mapping templates or our understanding of the various core banking products are very useful in ensuring post conversion data integrity and hence significantly reduce the test cycles required to validate the data.

Core banking applications are the heart of any bank, however they also a part of the larger, ever complex network of multi vendor applications, customer information files and related 3rd party applications that all work in harmony to address every aspect of customer fulfillment cycle.

HighPoint Solutions has the expertise to provide thought leadership and execution capability in making all the various components of the banks run in harmony . With expertise in almost all categories of fulfillment applications from check ordering to call center applications, HighPoint experts are capable in providing the most effective and smooth connectivity to the various applications.

Additionally as multiple core banking applications along with other analytics and data repositories are added to the banking infrastructure, establishing a common services standard takes a very important role. SOA (Services oriented architecture) provides the ability to standardize messaging across platforms within an enterprise and allows addition of new technologies without increasing already complex technology architectures. However implementing SOA requires significant understanding of bank’s current and proposed environments. It also requires the understanding of various messaging standards and how core banking applications use them to store, retrieve and access data.

HighPoint Solutions' Enterprise Architecture experts have proven time and again that we can provide the level of leadership required in putting together such complex enterprise wide architecture programs. The team will work with the bank’s various infrastructure groups and provide the most efficient and cost effective way of implementing SOA at an enterprise level.

As organizations invest in complex and large enterprise wide applications including core banking applications over the years, the applications need to be maintained and constantly upgraded to meet new and changing business requirements. It is estimated that 80% of any financial institutions IT budget goes towards maintaining and upgrading existing applications. The application portfolio in a typical financial institution can range from legacy based mainframe to the cutting edge web based applications. In addition to managing these applications, the institutions have to also deal with managing knowledge base and continue to invest in training its manpower in the old as well as newer applications.

HighPoint Solutions provides application management services that give the financial institutions the ability to outsource maintenance, support and up gradation of its legacy core banking applications.