London-based Hexaware is an artificial intelligence-led software designer that has been solving the data challenges for financial institutions and other regulated industries for more than 30 years. Data Management Insight spoke to director of operations Param Iyer about the pain points Hexaware seeks to solve.
Date Management Insight: Hello Param. When was Hexaware created and how does it serve financial institutions?
Param Iyer: Hexaware was founded in 1990, when tech was starting to boom. We are positioned in the market as a trusted enterprise scale startup company, big enough to deliver and small enough to care.
One-fifth of our revenue comes from data. It could be data mergers, it could be data management, it could be data quality improvement, it could be data governance frameworks, or it could be truly AI and analytics or business analytics.
Financial services is the largest industry we serve, nearly 50 per cent of our revenue comes from financial services, including insurance. For example, we were the tech M&A partner for one of the world’s leading providers of financial markets infrastructure and a global provider of financial market data and infrastructure when they were merging.
For a global leader across investment servicing, markets and financing, and investment management, we do a lot of this work where we are the onboarding partner. In the insurance world, we do claims or underwriting outsourcing.
DMI: What is the driving mission behind Hexaware?
PI: We want to be the first company in the world where half our revenue is digital revenue by 2030.
DMI: How does Hexaware differentiate its technology and data services for financial institutions compared to other providers?
BI: We truly believe in AI and automation first supported by highly skilled, multi-skilled people. Instead of throwing bodies at a problem, we try to go in with a business outcome in mind and, using tech and a good set of people, working out how we can deliver it at scale. It has to be a combination of onshore, tech, AI and automation.
DMI: What are the most common pain points Hexaware solves for its clients?
PI: There are three specific outcomes that we try to offer to customers. One is growth or improving the NPS. The second outcome is it has you have to create a technology… an enterprise architecture that is scalable for the future, which is safe, which has security, using microservices, cloud enabled, SaaS-enabled for the future. And the third is sustainable cost takeout. So we have to bring automated, AI levers wherever we can take cost out and bring in cost efficiency.
DMI: What are the newest challenges that Hexaware is helping clients overcome?
PI: A lot of people are thinking, “hey, am I spending too much with SaaS? Should I kill SaaS. Should I not kill SaaS? Should I create my own glue?”. There is a lot of disruption that we are going to see in the SaaS world… a lot of customers who are also thinking, can I own my own data? Can I create my own glue?
With a lot of these things that are happening in the world, sovereign clouds have become far more prominent in some of the conversations. Firms don’t want to be globally spread, they would like to de-risk and have multiple sovereign clouds locally.
And there is going to be more and more M&A… some new completely digital companies might come in because some of the legacy companies are still stuck on legacy technologies. Their data is not sorted.
DMI: What’s in Hexaware’s pipeline for 2026?
PI: We are having a lot of discussions with leading universities: where can we partner with them, and where we can also develop new skills related to frontier technologies including cybersecurity, data science and AI.
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