Banking and Financial Services

The Banking and Financial Services industry is experiencing a radical change, one driven by new competition from FinTechs, evolving business models, increasing regulation and compliance pressures, and new disruptive technologies. This has led to massive change in the competitive landscape in financial services, forcing traditional institutions to reconsider the way they do business. As data breaches become prevalent and privacy concerns intensify, regulatory and compliance requirements become more restrictive as a result. And, if all of that wasn’t enough, customer demands are evolving as consumers seek round-the-clock personalized service.

To overcome these challenges, Banking and Financial Services industry need to embrace digital transformation if they wish to not only survive but succeed in the current landscape. Coforge is a partner whose strategy is to provide world class service driven by domain experts, emerging technology and consulting framework to enable our clients to achieve their business goals. We are not the partner who only provides traditional BPS services. Our clients look to us for transforming their business landscape by combining Design-Thinking principles and Lean methods coupled with RPA / Artificial Intelligence / Cognitive Services, digital technologies, analytics, and deep domain expertise. Our proven track record is evident with our long-lasting relationships with 90% clients as Coforge believes in staying ahead in delivering exceptional services which are not only in current demand but also keeps Coforge and our clients ahead of the competition.

We are a trusted partner for our Banking and Financial Services clients offering end-to-end solutions across the value chain using our Back-office (including KPOs activities), Contact Center (Multi lingual, multi modal interactions including Voice - Inbound/Outbound, chat, SMS, Web, E-mail and Fax) and Consulting expertise in Banking and Financial Services vertical.

Coforge BPS team manages low, medium and high complex transactions processing along with business transformational services to their BFS clients and supports following areas in BFS operations:

Coforge Advantage:
  • Over Two decades ofexperience and expertise in BFS vertical
  • Ability to offer end to end BPO solutions
  • Flexible and evolving engagement models
  • Established LEAN / Six Sigma, Operations culture at client organization through our proprietary framework ProcessGymTM
  • Providing a wide range of best-in-class solutions and effective services that are spread across the digital services value chain such as Data Analytics
  • Smart BPS with the combination of our AI/IA/Cognitive, digital transformation, Analytics and consultative frameworks
  • RPA Implementation on multiple processes such as Account Funding, Mutual Fund Income, Trade Settlements etc.
  • Automation of manual processing using Macros, derived significant savings for our clients using our process excellence team expertise
  • Improved TAT by 40%for most engagements using collaborations with our domain, operations and process excellence experts
  • Transformedour client’s business (operations + IT) by suggesting innovative ideas using our “Idea Generation Platform”
  • Reduced training time with improved training quality by using our +40 years Training Heritage. Also, eliminating people dependent process trainings
  • Our consulting framework ProcessGymTM assists our clients in transforming and re-engineering their processes
  • Consistently delivering exceptional client quality &100% Compliance adherence with the Centralized Quality team led by Six Sigma Master Black Belt
  • Robust and structured cross training programs helped our teams to manage seasonal volume spikes without charging additional amount to our clients
  • Reduced response time – the average time taken to onboard the client
  • Intelligent work allocation for improved turnaround of smoke testing
  • Significant cost savings by using mixed resources (BPS + IT) for UAT and EST testing leading to improved quality
  • Knowledge management framework (K-Portal) coupled with strong competency development capabilities to help customers overcome the challenges of skill shortages
  • Established Transition Methodology to execute flawless knowledge transfer and minimum disruption to current business
  • Provides a wide range of best-in-class solutions and effective services that are spread across the digital services value chain such as Data Analytics
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