Key Takeaway
Modern banking faces significant cybersecurity threats, with malicious actors employing sophisticated scams. Hexaware Technologies offers AI-led solutions to help banks navigate these challenges and comply with regulations. Their Trust Framework monitors user behavior to detect unusual activities, while the Tensai® framework automates 24/7 operations, reducing the need for human intervention. Hexaware’s testing capabilities ensure functional alignment and data integrity across banking systems. Their automation has dramatically improved efficiency, particularly in regulatory reporting. By focusing on mid-market clients, Hexaware positions itself as a valuable partner, aiming to deliver measurable returns and establish long-term relationships through proof of value.
Modern banking faces unprecedented risks, with malicious actors worldwide devising new scams and tactics to defraud individuals of their money.
As cybersecurity threats grow more sophisticated and regulatory compliance demands increase, banks require support to safeguard customers’ funds and adhere to guidelines.
This is where Hexaware Technologies steps in, founded on the principle of AI-driven, human intelligence-enhanced solutions for businesses, establishing itself as a reliable partner for core banking transformations. The company’s AI-first strategy and focus on mid-market clients provide a compelling alternative to traditional large-scale providers.
Addressing Critical Cybersecurity Challenges
The threat landscape for banks has changed dramatically, especially with the rise of artificial intelligence in cyberattacks. Ravishankar Subramanian, Executive Vice President & Global Head of Banking Solutions, states: “With the advent of AI, these attacks have become highly sophisticated.”
“Individuals are leveraging AI to infiltrate banks’ networks, impersonate others, and manipulate transactions.”
To counter these advanced threats, Hexaware has created its Trust Framework, which surpasses conventional security measures by monitoring behavioral patterns. This system establishes personalized baselines for users, flagging any unusual activity that may suggest a security breach.
Ravishankar observes: “If someone typically logs in and checks their balance first each day but suddenly skips that step to perform another action, that’s a red flag.”
24/7 with Tensai® Framework
Managing continuous banking operations demands advanced automation, which Hexaware addresses through its Tensai® framework.
This digital-first strategy removes the necessity for human involvement in routine monitoring tasks.
Ravishankar adds: “Systems monitor other systems, and if an issue arises, an alert is generated, prompting appropriate actions. Sometimes, actions are executed by our agentic framework; other times, they are escalated to a human in the loop.”
The system employs a tiered escalation model, categorizing alerts to receive automated responses, agent intervention, or human oversight based on their classification and severity.
Quality Assurance and Risk Mitigation
Hexaware’s standing as a market leader in core banking quality assurance is rooted in its autonomous testing capabilities.
The company’s testing framework consistently validates three essential areas: functional alignment between business requirements and system delivery, API integrations across banking systems, and data migration integrity.
Sandip Ganguly, Vice President & Country Head for Australia and New Zealand, highlights the comprehensive nature of the company’s approach: “The platform encompasses three distinct components that address these assurance categories: functional alignment where bank users engage with the core system; API integration testing, ensuring the core banking system communicates effectively with other banking systems; and data migration integrity.”
“It’s a thorough platform that enables us to enhance core banking service delivery from a quality assurance standpoint.”
Delivering Measurable Returns Through Automation
The outcomes of process automation are evident. In regulatory reporting alone, Hexaware has achieved significant efficiency improvements. “Currently, the integration of generative and agentic AI has boosted the efficiency of this process by nearly 500%,” Ravishankar notes.
In addition to advancements in workflow automation, traditional processes have been completely transformed. “Tasks that previously took eight to 10 working days are now completed in under an hour,” he adds.
Strategic Positioning for Growth
Hexaware’s strategy emphasizes demonstrating proof of value before establishing long-term relationships. “More often than not, we are willing to invest and create value, and as a result, we earn a place at the table,” Sandip explains.
This approach resonates particularly well in the mid-market segment, where organizations strive to maximize value within limited budgets. “Consequently, our positioning is quite distinct. In the mid-market, we aim to be a full-service provider for our customers,” Sandip concludes.
Hexaware’s AI-driven, human intelligence-enhanced solutions offer a compelling proposition in an increasingly competitive marketplace.
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