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| Copyright © 2018 Tata Consultancy Services Limited
Innovative Technologies & Business Model Innovation in Wealth ManagementTCS Presentation for SEI and it’s clients
October 1st 2018
Agenda
Blockchain
Business Models: Changing Landscape
New Asset Class: Security Tokens
Artificial Intelligence, NLP
Machine Learning
Disruptive Technologies…..for the next 2-10 years
Business Workflows are changing; Reduction of costs vs Growth in revenue
IOT
Quantum Computing
AI
DLT
CloudAdvanced AnalyticsDecentralization
TokenizationDLTSmart Contracts
Open APICo-opetitionRPA Cybersecurity
IAMDigital Assistants
Business Model Disruption in Wealth ManagementPersonalized Customer Experiences Alternative Investments - New Asset Classes
High->Low feeActive-
>Passive
Increased Regulatory
burden
New Asset classes
New platforms –
Google, Facebook, Amazon
Underinvested Deposits
Preference to Online
interactionsSwitch
advisors-easier,
cheaper
Self service
Diminishing talent pool -
advisors
Trends
Highly personalized portfolios
Low fee efficient wealth manager
Affordable to manageLower net worth individual markets
Active managed investments
Enabling
New investment strategies and asset classes
AI, DLT, Cloud,IOT, Quantum
October 1, 2018
Blockchain & Distributed Ledger Technologies
Blockchain Technologies
CryptographyDistributed Ledger Digital Tokens Smart Contracts Decentralized
Real-Time Business
Lower Transaction Costs
$Operational Efficiencies
Trustful Business Transactions
Disruptive, But Impediments…
Governance
Standards
Interoperability
CulturalAcceptance
Trading1
Data2
Risk, Capital3
Compliance4
LegTech5
Cybersecurity6
-Tokenization of Commodities-Pre-trade Analytics, Post-trade Ops
-Data Marketplaces-Market Data-Reference Data
-Regulatory Capital Mgt-Credit Risk Mgt-Enterprise Risk
-RegTech, SupTech-AML, KyC
- Derivative Contract Annexes- Event based Contracts
-Threat Analysis-IDaaS
Business Models
ASX Moving to DLT…Late 2020
ASX replacing Clearing House Electronic SubRegister system (CHESS)
Targeting 5% incremental revenue (new svcs on single source of data in real-time) or cost savings (reconciliation of processes)
Standards based DLT using Solidity like contracts; ISO 20022 standardized messages
October 1, 2018
New Asset Class: Security Tokens
Changing Landscape…New Asset Classes
• Crypto Currencies – Bitcoin, Ether
• Peer to Peer Transactions
• Payment & Money Transfers
• Under-banked and Underserved
• 2009 -current
• Initial Coin Offerings (ICOs)
• Raising Capital thru ICOs
• Not regulatory compliant
• Ethereum based ERC20 standard
• 2016 -current
• Security Tokens (STOs)
• STO1.0: Exemption based;RegD & Reg S
• STO2.0: KYC, AML, automation of Dividends, Lockouts,…
• Tokenize traditional assets
• 2017 - current
Security Tokens.. What they are
Distributed Ledger Technology (DLT) based representation of value subject to securities laws
They represent traditional securities like equity, debt, derivatives and other assets like art, real-
estate,…
They are expected to change the way we hold and transfer investments using DLT based
recording of investments
They are a mechanism for recording and trading ownership claims
Since Illiquidity discount can be a high as 30%, tokenization can unlock billions of dollars in value
in traditional illiquid assets
Security Tokens.. Their impact
Always on Market
Fractional Ownership
Rapid Settlement
Cost Reduction
Increased Liquidity
Increased Market depth
Coded Compliance
But Impediments…
Regulatory
Friction
Market Depth
Governance
The Evolving Landscape
Compliant R-Token
Platform and Exchange
Token Platform
Commercial Real Estate
October 1, 2018
Artificial Intelligence
AI – State of the Art - Benchmarking
Task Human Accuracy
Best AI Accuracy
Detecting images 95% 97%
Open Ended Qns on Images 83% 68%
Answers to questions within a document 83% 79%
Recognize Speech from an Audio call 95% 95%
Machines are good at specific well controlled tasks
Current Usage of AI in
Financial Services
• Front Office
• Chatbots, Virtual Assistants Digital Advisors
• About 80% of banks worldwide have projects in this space
• Back-office
• RPA
• 90% of banks are doing something or the other in this space
• Trading & Portfolio Management
• Only 12%
• Typically leading edge groups within banks
• RegTech & SupTech
• Gaining traction
AI Usage… Some Considerations
Vision1
Strategy,Business
Case
2
Data3
Privacy4
Operating Model
5
COE6
Leadership, Openness, Flexibility
Levers? - Cost, Competitive Advantage, new B-models
Infrastructure, Quality & Prep processes
Transparency, attributes for prediction
Central, Distributed, Hybrid
Guidance, direction, expertise; Manage change, fear of Job loss
AIReadiness
Copyright © 2018 Tata Consultancy Services Limited
Machine First™
Fostering transformation & growth of enterprises embracing Business 4.0
Machine First™It’s about augmenting human capability
Powered By Automation & AI
Machine First™ Philosophy – from a reactive approach to a pro-active service delivery model
Ente
rpri
se W
ide
Be
ne
fits
Embedded
Transformation
Leverage the
Ecosystem
Immersive
Security
Exponential
Growth
Superior
Customer
Experience
Increase
Relevance To
Digital
Machine FirstTM
Paradigm shift from the traditional delivery
model
Autonomous solutions that enables pro-active
service delivery
Machines that can Sense-Think-Act-Learn
Delivery model accommodates AI and
Cognitive engines
Enterprise which is Predictive, Preventive and
Autonomous.
Service Delivery with more expert driven and
responsive archetype
MFDM™ Framework
Secure by Design
Customers
Partners
Employees
Machines
Stakeholders
Ph
ysicalD
igital
Alerts, servicerequest, ALMartifacts
Documents,flow charts,email
Image, video
Voice support, call center, chat
IoT
UI / UX ,social media
Structu
red
SemiStru
ctured
Un
structu
red
Plu
g &
Pla
y Ec
osy
ste
m
Sense Understand Decide Respond
Dig
ital
Das
hb
oar
d
Learn (AI Collaboration Ecosystem)
Human Interface CIO
CFO
COO/CDO
CHRO
• Productivity and service levels
• Data Quality• Business value
• Cash flow• Margins / EBITDA• Risk mgmt. and
regulatory compliance
• Employee satisfaction • Training & mentoring • Recruitment
• IT TCO • Scalability • Customer experience
Fosters Business 4.0 transformation and growth of enterprises
MFDM™ Framework
Leve l 5
Autonomous
Imitates Human Intelligence
Deep Learning& AI
Leve l 4
Predictive & Preventive
Learns & Predicts
MachineLearning
Leve l 3
Heuristic & Rule based automation
Anticipates
OrchestrationAnalytics
Leve l 2
Automation of Isolated tasks
Imitates Human Action
Point Scripts/RPA
Leve l 1
Capability
Intelligence
Technology
Ad Hoc & Task based
Basic
ITSM & Monitoring Tools
Automation | Maturity Model & Transformation Journey
MFDMTM Benefit Realization - Target View
Lever Type
Reduce demand
Examples for Demand ReductionValue Technology
Data Fix, Reporting Requests, Application troubleshooting
~80-85%Orchestrated Runbook Automation
Automation
Self Heal ~30%
Self-Service ~80%Chat bots, Self Service Portals/ apps
Impart
Agility
Improved Visibility
Goal
User Experience
Access requests, passwords resets, account lock/ unlock, How to queries
End point installation issues, self heal of access issues
Automated Testing
CI/CD
Intelligent Command Center
Optimized Deliver
Operating Model
~20-25%
Upto 50%
~90%
~25-35%
Automation of Regression Testing, Performance Testing
Continuous integration, Automated Testing
Application Performance Monitoring, Unified Dashboards, Anomaly Detection
Reliability Engineering Services, Role Transformation, Product Teams, Cross Skilling
EUC automation
TCS PerfExt, TCS OSAF, JMeter, Grinder, Taurus, etc.
Build, Release, Deployment & Testing automation
APM, IT Operation Analytics
Reduced human dependency
MTTR reduction
Service Request Reduction
Improved user experience
Improved Time to Market
Deployment frequency
Triage time save
Efficiency Gain
TCS Blockchain Services
Process & Technology
3000+ processes and
800+ Bots in production
Centers of Excellence
ignio ™ , IPA - ML, NLP,
Bots/Chatbot, Cognitive
Assistant CoE
Partnership & Positioning
Strategic Alliances with all
Majors Providers
Trusted by Fortune 500
200 + customers
spanning across
geographies & industries
Expertise
~ 4000 associates driving
successful engagements
To become a partner of choice for enterprisesBy defining a Machine-First model through Robotics, Machine Learning and AI
Leadership quadrant with Analysts HfS,
Gartner , Forrester and Everest
Cognitive Automation for more than 30
engagements using ignio with 75+ in the pipeline
Focus on adopting Machine First Delivery
Model for ignio™ driven engagements
Incubating & Augmenting Knowledge through Digital Learning
Deep Domain Knowledge &
Automation Experience
TCS EIA & AI - Partner of Choice for Intelligent Automation
Thank You...
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