With legislation limiting the costs of using credit cards, credit card companies are seeing their profits being hit substantially. There is a gradual re-introduction of service charges, the removal of “cash-back” card offers, and a hunger for other cost cutting initiatives.
In addition, the finance and banking sector is under increased regulatory pressures, the leading players have recognised that BPM is one of the emerging technologies to meet their challenging environment.
We have worked on a variety of Banking projects. The complex business issues that can be resolved through BPM are:
- Improve call centre performance and overall customer satisfaction
- Assisting in managing the increased regulatory pressures, e.g. MIFiD, SOX and Basel II.
- Legislation is reducing the costs of using credit cards for the supplier, and the credit card companies are seeing there profits being hit. This is leading to these companies needing to run leaner and more efficient operations to protect their margins.
Typical outcomes of delivery are:
- Auditable records for regulatory compliance
- Improved reaction time to customers for queries or complaints
- Faster to revise, relaunch or withdraw products
- More effectively deployed head count
- More effective fraud detection
- More positive end to end customer experience
- Process awareness and optimisation
- Continuous process and business improvement
Some of the recent banking experience we have are:
- Exceptions handling project (2003)
- Core image and workflow project for account maintenance (2006)
- Trading system (2004)