Recurring global / regional financial crisis, intensifying competition, continuous threat of substitutes & disruptive innovations viz. mobile wallet, proliferation and greater adoption of digital channels like Mobile & i-banking necessitates banks to be more agile and responsive. The banks are responsive to not only to customer needs but also to existent as well as emerging competition and leverage insights from Big data, optimize processes, reduce turnaround time through real time payment settlement, centralize operations and reduce the number of branches. Hexaware’s BPS with its suite of banking & financial services offerings around capital market operations, retail banking, mortgages and corporate banking ensures banks to focus on core strategies & product design while alleviating their concerns by moving towards more centralized processing, augmenting customer experience, optimizing processes and churning out insights from humongous amount of data that Banks process on a daily basis.
Our Banking & Financial Services solutions covers end to end services across investment banking, asset & wealth management, retail banking (Both Assets & Liabilities), mortgage banking & corporate banking encompassing simple transactions processing (account / data management) to complex processes viz. cards dispute processing, mortgages loss mitigation, investor claims management, asset based lending – collateral monitoring as wells as Customer Experience Management across all product types & asset classes.
Our social media practice, business intelligence services &aamp; application development competencies complement our business process services to provide a packaged BPO solution augmented with SMAC offerings (Social Media, Analytics & Cloud).
Banking & Financial Services outsourcing has traditionally been capturing maximum space in the outsourcing pie comprising diverse industry verticals. This faith of customers has further been reinforced in the last few years demonstrated by healthy CAGR for BFS of around 16%.
Below are some of the major reasons which have led to significant adoption of banking & financial services BPO among companies:
- Access to low cost but experienced talent pool
- Increased regulatory pressures have squeezed margins and hence there is an increased focus on outsourcing to reduce cost
- Increase in customer satisfaction rates as CSAT management is BPO’s forte
- Ease of scalability
- New age banking consumers’ needs have driven banks to look at BPOs for Analytics & Social Media solutions
- BPOs are one stop shop for different banks needs viz. Document Management, workflow and point technology solutions, Platform, Customer Contact Management, Shared Services Center and Business Intelligence etc.
With more than 20 years of experience in Banking & Financial Services (BFS) vertical, Hexaware is uniquely poised to meet both global as well as regional banking customers’ Business Process Services (BPS) needs, across different product classes and customer interaction channels.
Below is a snapshot of our offerings across Retail Banking, Corporate Banking & Capital Markets:
|Retail banking||Mortgages||Card and Payments|
|Corporate Banking||Investment Data Management||Trade Administration|
|Application / Operations Support||Risk, Research and Analysis||Customer Service, Finance and Accounting, HRO, BI And Analytics|