Upgrading financial services with an effective SDLC

Nafees Ahmed, CIO, Indiabulls
Monday, December 28, 2015
Nafees Ahmed, CIO, Indiabulls
Headquartered in Gurgaon, Haryana, Indiabulls (BSE: 532544) is a provider of services in the sectors of Housing Finance, Real Estate, Infrastructure, Financial Services, Securities.

In today's cut throat competitive world, technology is the only differentiator, which can keep you ahead of your competition. Every Organization is working on digital transformation roadmap, which is a huge opportunity for IT vendors to provide solutions in back office automations, enhanced customer experience, converting traditional branches into digital virtual branches, productivity improvement, seamless integration with external agencies and automated risk and fraud deduction control systems.

For many years stock exchanges were physical locations where buyers and sellers met and negotiated. Exchange trading would typically happen on the floor of an exchange, where traders would shout and gesticulate at one another. With the improvement in communications technology in the late 20th century, the need for a physical location became less important and traders started to transact from remote locations in what became known as electronic trading. Electronic trading made transactions easier to complete, monitor, clear, and settle which helped spur on its development.

The Electronic Trading Processes has increased the market efficiency by reducing the transaction costs, providing greater liquidity in the system, tighter spreads and increased transparency in the system. While electronic trading hasn't necessarily lowered the cost of entry to the financial services industry, it has removed barriers within the industry and causes a globalization-style competition effect.

IT played a vital role in taking trading to the masses by introducing Online Trading system through which the stock market reached globally where earlier the floor trading could not. For retail investors, financial services on the web and mobile offer great benefits. The primary benefit is the reduced cost of transactions for all concerned as well as the ease and the convenience. Web-driven financial transactions bypass traditional hurdles such as logistics.

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