The Banking Industry
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)
