The need for Optimum Customer Centricity in Banking
As the born digital era catches speed, banks and financial institutions must treat this shift as an opportunity to reinvent the value they provide. The rise of Fintech has challenged the legacy banking business processes that lack organizational agility. Digital transformation is the need of the hour and we have been helping our clients accomplish it. Our commitment to technology along with delivery excellence has enabled us to dislodge multiple incumbents with our fearless approach to process automation without worrying about revenue cannibalization.
Retail banking has witnessed its fair share of disruption in the recent past due to the emergence of Fintech and a slow approach to innovation. To remain competitive, banks must deliver customized products and experience, across all channels the customer reaches out to.
Hexaware has been working with some of the world’s largest banks and financial services firms, servicing them in their business processes services. Our unique approach of harnessing the best talent, technology like blockchain and process automation using RPA, ML, AI, has been paying rich dividends to our banking clients. This expertise backed by our excellent operations talent and analytics helped us in creating a superior customer experience.
We have been rated ‘High Performers in BFS’ by HfS and ‘Leaders in RPA and AI in BFS’ by Nelson Hall for our services.
With the current operating conditions in the industry in a state of massive flux, it becomes imperative for commercial banks to service their trusted, large relationships better than ever before. Banking institutions must display operational agility and nimbleness to safeguard and enhance the customer experience. Such agility must then be leveraged to create true retention while deepening larger corporate relationships.
Hexaware possesses capabilities across the spectrum with services ranging from cards to cross border payments in a commercial capacity. With genuine thought leadership across the board, we have even devised a Machine Learning solution for the traditionally complex, cumbersome and error-prone trade finance workstreams. Added to this, our willingness to bring in RPA, analytics and the best operational talent has helped us to deliver great value to our customers.
For a top 5 global bank, we have delivered over 47% savings in Total Cost of Ownership in their Payments Investigation process through Robotic Process Automation.
Asset Managers, traders, wealth managers and Financial Institutions, across Banking and Capital Markets are forced to change their business operations, disrupted by regulations, intense competition, continuous threat of substitutes and disruptive innovations. Large banks and financial institutions have realized that adding more people is not the strategic solution to address present and future demand. Operations groups are encouraged to identify creative ways to manage operational stability while reducing cost year on year.
To meet tightened regulatory policies and capital market requirements, banks have been adopting platform-based solutions and automation. Enhancing operations quality and productivity is now an organization wide mandate and not only limited to Quality and IT teams.
Hexaware’s suite of Capital Markets offerings for operations transformation enables banks and financial institutions to focus on their core strategy and product design, while alleviating their concerns on managing operations. Our solutions help in reengineering and centralizing processing services using lean methodologies, to derive the insights from humongous amounts of data while enhancing customer experience.
Our rich domain expertise, coupled with our Automation First approach, leveraging RPA, ML/AI, NLP, OCR and Analytics enables banks and financial institutions to scale operations while ensuring optimum service delivery.
Our solutions have helped customers reduce their Total Cost of Ownership in the range of 15% to 55%.
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