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Ronak Doshi

Blockchain Summit India — February 22-23 | Event

By | Events

Practice Director Ronak Doshi will speak at Blockchain Summit India (BSI) 2019 held on Februrary 22-23 in Delhi, India. Ronak will be joined by other industry experts on a key panel where they will discuss the evolution of blockchain and FinTech for a digital cashless India.

About the Session

India is passing through a wave of cashless and e-money formation. Innovation in this area by Indian FinTech startups, banks, and governments is at an all time high. The esteemed panel will discuss the formation of cashless India and what to expect in the next three years. They will specifically highlight a focus on what role cryptocurrencies and blockchain technology will play in this formation.

About the Event

Blockchain Summit India 2019 is the first edition in a series of Vision Blockchain 2030 events. Then Indian Government, various ministries, the country’s premium academic institutes, and the country’s most influential people are participating to support the initiative. Learn more about Blockchain Summit India.

When

February 22-23, 2019

Where

IIML NOIDA Campus
Delhi, India

Speaker

Ronak Doshi, Practice Director, Everest Group

NASSCOM BPM Strategy Summit — October 4-5 | Event

By | Events

Practice Director Ronak Doshi will be speaking at the 2018 NASSCOM BPM Strategy Summit held on October 4-5 in Bengaluru, India. Ronak will conduct a workshop on the latest developments in blockchain.

About the Workshop

This session cuts through the blockchain hype to bring a fact-based perspective on the enterprise blockchain adoption story through a detailed review of 160+ blockchain projects in the financial services industry. You will learn how to prioritize business processes that are more amenable for a blockchain-based solution along with best practices to build a business case for all ecosystem participants. The session will also explore the convergence of technologies such as BPM, RPA, AI, IoT, and blockchain using case studies.

About the Event

There is no doubt that a successful digital transformation strategy is key to safeguarding your company’s future. Automation, artificial intelligence (AI), robotic process automation (RPA), and cognitive technologies promise huge improvements and efficiencies from the time we source our raw materials to our engagement with our end customers. A pragmatic approach to business process management (BPM) promises to further improve efficiency, foster innovation, boost customer satisfaction, tighten governance, further mitigate against risk, and, importantly, reduce the cost of business operations. How do we ensure we are ready to make the most of a successful digital transformation?

When

October 4-5, 2018

Where

The Leela Palace
Bengaluru

Speaker

Ronak Doshi, Practice Director, Everest Group

Learn more

Capital Market IT Outsourcing Deals See Double-Digit Growth in Number and Value in 2016 — Everest Group | Press Release

By | Press Releases

Artificial intelligence, cloud, blockchain technologies driving digital disruption of capital markets ITO industry.

Capital market IT outsourcing (ITO) deals experienced double-digit growth in 2016; legacy modernization and adoption of digital technologies drove a 29 percent increase in the number of capital market ITO deals, with the average total contract value rising 23 percent, according to Everest Group.

Technologies such as artificial intelligence (AI), cloud and blockchain were key components of digital adoptions. The demand for virtual assistants, automated investment advisory capabilities, and improved agent/broker and customer experiences drove a 64 percent uptick in the number of capital markets ITO deals that included AI in their scope. Similarly, the impetus to improve agility and reduce costs led to a 47 percent surge in cloud-based initiatives in capital markets ITO deals.

Another major driver of capital market ITO deals in 2016 was risk and regulatory compliance initiatives. These saw a 58 percent increase over 2015, largely attributed to an overall tightening of regulatory grip in the capital markets industry, especially in Europe.

“Everest Group anticipates that the capital markets IT outsourcing market will grow modestly in the next 12 months, as many of the trends we have documented in 2016 continue,” said Ronak Doshi, practice director at Everest Group. “Risk and regulatory compliance will remain a primary focus; deal sizes will shrink as enterprises demand cost-reductions through automation; and artificial intelligence, cloud, and blockchain technologies will drive the next wave of digital disruption.”

These recommendations and research findings are explored in “Simpler, Smarter, and Seamless Capital Markets – The Digital Revolution: Capital Markets ITO Annual Report 2017.” This report examines the global activity and trends in the capital markets segment and the implications for enterprises and service providers.

 Other key findings:

  • Brokerage and investment sub-vertical witnessed an increase in transaction activity, led with a central theme of adopting digital to enhance the front-office user experience.
  • The capital markets industry witnessed a decline in demand for traditional IT application development and maintenance service while the demand for consulting and integration services surged in 2016.
  • Asia remained the most lucrative destination for application outsourcing service delivery, despite improvement in the cost effectiveness of Central Eastern Europe and Latin America owing to currency depreciation.
  • The capital markets vertical witnessed a significant increase in the number of small-ticket size and short-duration deals in 2016.
  • Deals over US$14 billion will be coming up for renewal in the next four years.

***Download complimentary report abstract here***

Banks Embrace Digital in More Than Half of ITO Deals in 2016—Everest Group | Press Release

By | Press Releases

Number of banking ITO deals including automation in scope increases nearly triple; a future of banking built on AI, open banking architecture, and cloud is imminent.

According to Everest Group, banks embraced digital in 54 percent of ITO deals in 2016, and the number of banking ITO deals including automation in their scope increased 175 percent. As banks increasingly leveraged digital across both front- and back-office, the demand for traditional IT services flat-lined. New technologies such as blockchain and artificial intelligence (AI) have witnessed significant traction, as banking enterprises explore various use cases. Seven new deals specifically for blockchain were signed in 2016.

Everest Group also reports that the number of automation deals with AI in their scope increased over 80 percent in 2016. Key themes for these deals included engagements for adopting virtual assistants, pilot programs to explore machine learning in the risk and regulatory compliance space, and pilot programs for cognitive robotic process automation (RPA).

However, banking ITO transactions overall showed a significant decline in 2016. The number of new deals signed dropped 27 percent, the average total contract value fell 24 percent, and the average deal duration declined 11 percent. An uncertain macroeconomic environment, political uncertainty, and an increase in insourcing by global banks attributed to the reduction in number of deals. An increase in automation and price competition among service providers impacted the average ticket size of deals.

“Banks are reinventing themselves, leaving behind the legacy brick-and-mortar business model and becoming customer-centric rather than product centric,” said Ronak Doshi, practice director at Everest Group. “In the near future, banks will become an ambient fabric, coordinating a network of allied businesses and third-party providers and orchestrating end-to-end customer experiences. The IT foundations of this new banking model are technologies such as artificial intelligence, API-enabled open banking architecture, and cloud. As our research demonstrates, we’re now seeing banks wholeheartedly adopting digital—a sure sign that the transition to the future of banking is rapidly accelerating.”

These findings and more are discussed in Future of Banking – “Experience First”: Banking ITO Annual Report 2017. The report contains insights into the future of banking and a comprehensive analysis of the banking application outsourcing market.

***Download complimentary report abstract here***