As the born digital era catches speed, banks and financial institutions must treat this challenge as an opportunity to reinvent the value they provide. The legacy processes of the past must give way to nimbler and agile ways to ensure customer centricity. 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 automation without worrying about revenue cannibalization.
Hexaware’s Banking and Financial services BPS practice helps in meeting regulation, drive governance, reduce cost and enhance operational efficiency. We help our customers in designing, transforming and carrying out advanced operations, leveraging in industry leading analytics solution, collaboration platforms and machine learning. With innovative solutions across the consulting and business process services space, we help to enhance customer experience, while boosting margin’s.
We handle extremely critical functions for our clients, such as payments, commercial cards and even complex fund onboarding for some of our large banking and capital markets customers.
Our efforts have seen us being anointed as the ‘Leader in RPA and AI in BFS’ by Nelson Hall and ‘High Performer in BFS’ by HfS.
Areas of Expertise
Retail banking has witnessed its fair share of disruption in the recent past. The emergence of fintech & other digital competitors and banks slow response to innovation, offset the traditional banking paradigm. 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 blending best people, process, and technology such as RPA, ML, AI and blockchain, has been paying rich dividends. 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.
Banks, Asset Managers, traders, wealth managers and Financial Institutions, across capital markets are forced to change their operating paradigm, disrupted by regulations, intense competitions, 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 market 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 optimizing processes, modernizing process to a more centralized processing system, reengineering processes using lean methodologies, deriving the insights from humongous amounts of data while enhancing customer experience.
Our rich domain expertise, coupled with our automate first approach, leveraging RPA, Machine learning/AI, NLP, OCP and Analytics enables banks and FIs 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%.
With the current operating conditions in the banking industry in a state of massive flux, it becomes imperative for 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.