HCLTech’s “Supercharging Progress” Claim is More than Marketing for BFSI Firms Battling the “Digital Dichotomy”

Throughout 2023, HFS has written and talked about the “digital dichotomy,” where enterprises are striving to balance the macroeconomic “slowdown” with the “big hurry” to innovate. This reality permeates all sectors, but in the banking, financial services, and insurance (BFSI) sectors, it has the distinct flavor of limited digital investment anywhere outside of retail banking and personal lines in P&C insurance. And even within these areas, the emphasis has been decidedly front-office, focused on sexying-up consumer interaction points and buoying customer experience with much less front-toback “make it really work” integration than needed.