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Charlotte

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2009

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Payments Regulation & Compliance Retail banking Wholesale banking

Nikhil's blog archive

2016 (3) 2012 (2) 2011 (3)

Nikhil Mittal

Financial Crimes Consultant at Wells Fargo

Message Posts: 8 Comments: 15

Bio Career Consultant with more than ten years of experience in Business Analysis and Process Consulting. Experience in the areas of AntiMoney Laundering, Frauds and Economic Sanctions, Treasury Management Services, Commercial Lending and Syndication and Payments for leading US banks. Career History Strong experience in Agile methodologies, Scrum management and requirements management Currently leading a team of Business Analysts in an onsite-offshore delivery model Proficiently managed relationship with the key stakeholders and handled liaising activities involved in the projects

Blogs

Banking Architecture

Analytics is the oxygen that energizes new banks to scale new heights of modernization

26 Jul 2016

Large, global banks process billions of transactions across service offerings to a plethora of customers across demographics, daily. In order to sustain effective operations, they must adopt cutting-edge analytics that churn the petabytes of rich information into valuable insights. As of today, most global banks are processing these petabytes of t...

Banking Architecture

Apply intelligence where it is needed the most

26 Jul 2016

In my previous blog, we talked about letting the CAT out of the bag in order to make risk management more effective. The 'T' we talked about previously was 'transactions,' the other two being 'customers' and 'accounts.' With the increasing number of channels of monetary transfers - both bank-regulated as well unregulated, anonymous ones, such as B...

Banking Architecture

Risk Technology: Let the CAT out of the bag

26 Jul 2016

Today's banks are facing a common challenge across the globe: mounting technology costs and increasing compliance requirements. New organizations are surfacing at every nook and corner to disrupt normal life through violence, and are being funded heavily to conduct global attacks. Due to the way the banks have operated so far - coupled with the ma...

Indian Private Retail Banks: Su CASA es Me CASA

02 Jul 2012

In one of my recent interaction with cluster and branch heads of India's top three private national banks, a startling fact emerged that the majority emphasis is purely on selling the maximum possible retail portfolio to the customer with the underlying mandate of growing as much CASA as possible. The instructions are to beg-borrow-steal as much C...

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Nikhil is Commenting on

Risks in shortening the settlement cycle

SDA should be more rigorously implemented in order to reduce any risks. I am sure that has the potential to become a global standard in itself.

02 May 2012 Reply Read article

Risks in shortening the settlement cycle

I am more keen on looking at it from an integrated point of view where at many key places of the world, the settlement cycles differ with one another. With UK coming to T+2, it would be mostly in sync with Germany, but would differ with US and Canada who still practice T+3. The Asians are more incoherent with cycle ranging between T+1 to T+3. Post-crisis nature of the trading activity has become more delicate and with European economy loosing confidence as a whole, the movement to T+2 by UK should be evaluated carefully at systemic levels. While it might be in accordance to Basel III norms of reducing counterparty risk exposures and also reducing costs of transactions among the presently incoherent economies, the need of the hour is a careful evaluation of acceptance for such a step in terms of global harmonization.

02 May 2012 Reply Read article

Old car exchange scheme for platform renewal

Quite rightly said when you mentioned about the issues with the large European or american financial organisations which are sitting cashless. When no cash, they cannot think of new car bacause new one comes with a premium. No matter even if the vendors launch multiple variants (from a basic one to full-specced), the banks dont have the money and hence dragging the existing setup. The immediate need is to address the core issues banks are facing, reducing ops costs and increasing risk coverage across asset portfolio. IT will be one of the enablers to achieve this but t has to start with pruning down the existing car bit by bit. In parallel picking the newer ones bit by bit and building the new car.

02 May 2012 Reply Read article

Bank Account Number Portability

BANP can definitely be a game changer but before we delve into the potential hurdles as far as industry and the banking architecture is concerned, we need to evaluate the following: - Whether a real need exists for this? - Does customer loyalty has any proportionality to the bank account number(s) - Will this address in any manner, even the slightest of the issues which the industry is facing today in terms of ever changing consumer loyalties, need for effective compliances and architectural longevity - Fraud is one of the biggest concerns the industry is facing today and imagine the traceability impossibilities BANP will be putting up infront of us - Worldwide, there are legislations and mandates for the banks to make the switching easier for a customer, which in turn makes the bank introspect and address potential problems within the system While BANP will make the switching easier, it would be a huge effort and technical and regulatory investment across countries and companies, Is it really a possibility !

22 Nov 2011 Reply Read article