Operations in banking, financial services, and insurance are by their very nature, decentralised and distributed. In its effort to expand reach and access, the BFSI sector caters to a wide variety of customers in several regions under different rules and regulations. Consequently, a document management system for BFSI industry is much more complex and mission-critical.
As competition in the sector intensifies and costs escalate, financial institutions are looking to cut down on real estate and personnel costs. Operations are being increasingly automated, and made available to the customer 24×7 through a variety of channels. Our solutions integrate content from different sources onto one platform, and share it within and outside the organization in a secure manner. Apparent benefits to the organization include higher resource productivity, greater workflow efficiency and faster customer response time.
KYC and Risk Management
Globally, laws on tax evasion and money laundering are becoming more stringent and governments are coming down heavily on erring establishments. Consequences of non-compliance can be grave, often fatal, in terms of penalties and business reputation. Our systems help you achieve improved regulatory compliance at local and pan-organizational levels, and drive better risk management processes.
Record management and OCR
In the BFSI industry, records are often generated at one place, authorised at another, stored at quite a different place, and retrieved at the most unexpected times. We help you seamlessly navigate between the complex mix of physical and digital records and ensure convertibility, consistency and compatibility therein.
Security and Confidentiality
The role of security of data in the BFSI sector cannot be overemphasized, considering the sensitive and private nature of the information that it deals with, and the numerous ways in which it can be misused. We assist you in setting up secure storage and communication systems for your content, and ensuring that it is accessible only to those that need it, and when they need it.
Analytics and Insights
ECM systems enable a variety of data analytics that can drive new market strategies, cost reductions, customer satisfaction, to name a few. Banks and financial institutions can dig deep into their data to assess risk and return metrics, customer behaviour, market potential, etc. Insurance companies can use insights to optimally price their products in a highly competitive market, club and reinsure exposures based on levels of risk and channelize their salesforce.