Make a smooth transition to the post-LIBOR worldLIBOR Transition Assistance

Offering Overview

Make a smooth transition to the post-LIBOR worldThe London Inter-Bank Offered Rate (LIBOR) is scheduled to be discontinued at the end of 2021, and enterprises across the globe must be fully prepared to make the transition to an alternative interest rate benchmark. To provide support, DXC Technology offers LIBOR Transition Assistance, an end-to-end solution that leverages decades of industry experience and partnerships with leading platform providers.

LIBOR Transition Assistance uses the latest machine learning, AI and robotic automation technologies to deliver the complex system enhancements needed to carry out the changes demanded for transitioning. DXC’s skilled resources worldwide, experienced in managing regulatory-driven change and delivering upgraded financial platforms, can help guide your enterprise through the changeover.

Transition poses complex challenges

Serving as the primary benchmark for short-term interest rates, LIBOR is referenced by an estimated $350 trillion in outstanding contracts in maturities globally, according to ICE Benchmark Administration. With the benchmark scheduled to be phased out, alternative reference rates (ARRs) are being set up for different currencies, including the euro, British pound sterling and U.S. dollar. This means that organisations must be migrated to products based on ARRs, and underlying technology systems must support that transformation.

As 1 January 2022 approaches, firms around the world are faced with what many consider to be one of the biggest transition programmes ever undertaken in the industry. The complexities of replacing LIBOR carry many uncertainties and will pose a difficult test for enterprise strategies and readiness.

Key challenges to a successful LIBOR transition include identifying financial exposures, launching new financial products linked to post-LIBOR ARRs, and mitigating the risks that go along with such a significant migration.

Companies face numerous hurdles related to technology infrastructure and change management. For example, given the difficulties of integrating multiple systems, having inaccurate time and effort estimates could prevent timely implementation. Also, reconciling business aspects such as legal, data, case management and systems poses a mammoth challenge in accurately assessing exposure at any point in time.

Benefits

• Implement a successful LIBOR transition in a timely manner

• Reduce costs through automation and other advanced technology

• Reduce risk through superior reporting and end-to-end case management

• Process contracts faster with advanced tooling leveraging AI and robotics

• Accurately assess exposures at any point in time

Offering Overview

2

Paving the way

Tapping into decades of experience in banking and capital markets, as well as global partnerships with leading technology providers, DXC provides a steady hand to guide your LIBOR transition. Because DXC is vendor-agnostic, we deliver best-of-breed solutions that meet your specific transition needs. Additionally, our extensive background in dealing with regulatory-driven changes across the world’s major geographies provides us with the knowledge to help lead successful change.

Here are some of the most important aspects of LIBOR Transition Assistance:

Use of advanced technology. Identifying key financial exposures is vital to transition success. DXC has teamed with top-tier legal partners to provide managed services for legal contract discovery, repapering and risk exposure reporting. We use the appropriate balance of human and legal-tech solutions based on the complexity of the contracts involved and the responsiveness of machine learning, AI and robotic process automation (RPA). This flexibility provides the highest quality result at the optimal cost.

Technology transformation leadership. Meeting regulatory and compliance changes is an opportunity to consolidate redundant platforms and reduce costs, if end-to-end solutioning is considered. DXC’s vast experience and broad portfolio of offerings give us the capabilities to help deliver these savings. Our core capabilities include specific offerings in crucial areas such as applications discovery, remediation and testing.

Best-of-breed solutions. Working with the leading platform providers across the globe as well as our own product teams, we deliver best-of-breed solutions that solve the most difficult technology challenges. We are able to anticipate and manage the system enhancements required for your LIBOR transition.

Key benefits

Working with DXC gives you access to the best technology solutions available today. The combination of our robust partner ecosystem and our own expertise delivers business benefits in these critical ways:

Reduced costs. We help enterprises leverage advanced technology applied to areas such as discovery, data lineage and “taint analysis”. This saves costs by reducing the need for full-time equivalents (FTEs) to carry out changes and end-to-end testing activities.

Reduced risk. We help you launch and manage a coordinated approach to LIBOR transition planning and analysis, with a focus on assessing and mitigating risks. For example, DXC enables superior exposure reporting through end-to-end case management and integration of core product and credit risk systems.

Faster contract processing. DXC implements leading contract management tooling enhanced by AI and robotics. This is complemented by DXC’s experienced team of legal advisors and analytics and governance SMEs who can help enable enterprises to process large volumes of complex contracts in shorter timeframes.

Offering Overview

3

Why DXC?

Few, if any, other providers have the global reach, vendor partnerships, technology portfolio and experience that DXC offers. The LIBOR transition touches all corners of the globe, and DXC has the wide reach to help you coordinate your transition across geographies and currencies. Our global scale, talent and innovation platforms serve more than 6,000 private- and public-sector clients in 70 countries.

With decades of work in banking and capital markets, DXC has long been a technology leader in the industry. The world’s leading banks rely on DXC’s banking software, services and consulting expertise to manage deposits, loans, payments, debt protection and credit information. In addition, our process automation capabilities help enterprises achieve business process improvements by adopting next-generation automation tools that assist knowledge workers by automating repetitive and routine tasks.

Learn more at www.dxc.technology/banking

About DXC TechnologyDXC Technology, the world’s leading independent, end-to-end IT services company, manages and modernizes mission-critical systems, integrating them with new digital solutions to produce better business outcomes. The company’s global reach and talent, innovation platforms, technology independence and extensive partner network enable more than 6,000 private- and public-sector clients in 70 countries to thrive on change. For more information, visit www.dxc.technology.

© 2019 DXC Technology Company. All rights reserved. LO_3238a-20. December 2019

Get the insights that matter.www.dxc.technology/optin

Offering Overview

4