banking-financial-servicesbanking-financial-services

Banking, Financial
Services & Insurance

Solutions for a digitalized and secured
banking experience

banking-financial-servicesbanking-financial-services

#TechMBPS helps reimagine banking
processes using RPA

banking mobile bannerbanking mobile banner

BFSI as a sector is being reshaped and upgraded almost every day to make the whole spectrum more customer centric, personalized, digitalized and accessible. The traditional methods have stayed around for way too long making the operations and offerings risky, time consuming and inefficient. At times, these can have enormous financial impacts.

 

For example:

Transform the entire Banking and Financial Services spectrum including retail banking, asset and wealth management, cards and payments, and corporate banking to achieve:

40% reduction in average process execution time

40% – 75% reduction in financial service cost

Bypass system integration challenge

24/7 operations and up time

15% increase in assets by designing unique offers for customers

25% improvement in time-to-market

20% reduced marketing cost

40% reduction in average process execution time

15% reduction in average process execution time

40% – 75% reduction in financial service cost

25% Improve time-to-market

Bypass system integration challenge

20% Cut marketing cost

24/7 operations and up time

The Key Challenges

BFSI as a sector is being reshaped and upgraded almost every day to make the whole spectrum more customer centric, personalized, digitalized and accessible. The traditional methods have stayed around for way too long making the operations and offerings risky, time consuming and inefficient. At times, these can have enormous financial impacts.
For example:

BFSI as a sector is being reshaped and upgraded almost every day to make the whole spectrum more customer centric, personalized, digitalized and accessible. The traditional methods have stayed around for way too long making the operations and offerings risky, time consuming and inefficient. At times, these can have enormous financial impacts. For example:

$60 Million/year average spent for KYC and customer due diligence

$300 Billion paid in fines by financial firms since 2010, towards violations of Bank Secrecy Act

$5.33 Billion in card fraud in the US, up by 14.5%

2 to 5 Errors per 100 tasks due to human interventions

$60 Million/year average spent for KYC and customer due diligence

$300 Billion paid in fines by financial firms since 2010, towards violations of Bank Secrecy Act

$5.33 Billion in card fraud in the US, up by 14.5%

2 to 5 Errors per 100 tasks due to human interventions

Digitalization transforming BFSI?

Digitalization has impacted every aspect of BFSI including retail and commercial banking, asset and wealth management, cards and payments, insurance and claims. Here are the major achievable benefits of going digital

40% less average process execution time

40% - 75% less financial service cost

24/7 operations and up time

15% increase in assets by designing right offers for right customers

Improve time-to-market by ~25%

Cut marketing cost by 20%

Lower campaign & infrastructure costs

Better cross sell

Reduce customer churn

40% less average process execution time

40% - 75% less financial service cost

24/7 operations and up time

15% increase in assets by designing right offers for right customers

Improve time-to-market by ~25%

Cut marketing cost by 20%

Lower campaign & infrastructure costs

Better cross sell

Reduce customer churn

Our Key offerings

Right from consulting to implementation to daily operations, we manage it all for our host of Banking and Finance clients.

Digital imaging (OCR/ICR)

To extract text/numbers from images

Robotic Process Automation

To automate repetitive and rule-based tasks

Analytics

Can be deployed to create customized marketing campaigns and offer customized products and services

Reengineering

Eliminate variation in process and procedure, eliminate unnecessary paper, eliminate unproductive time

Blockchain

Identity Management, Contract Management, Transaction payments

Tech Mahindra Business Process Services has years of expertise and domain knowledge that has allowed us to take numerous banking institutions on their digital journeys.

asset-wealth

Asset & Wealth Management

Secure, Compliant, and Scalable Solutions for Asset and Wealth Management Industry

Asset

Retail Banking

Transforming Retail Banks in the Age of Faceless Banking

insurance_icon1

Insurance

Our Digital Solutions Insure
Your Growth Plans

asset-wealth

Asset & Wealth Management

Secure, Compliant, and Scalable Solutions for Asset and Wealth Management Industry

Asset

Retail Banking

Transforming Retail Banks in the Age of Faceless Banking

insurance_icon1

Insurance

Our Digital Solutions Insure Your Growth Plans

Get in touch
close slider