Banking and Financial Outsourcing Solutions

The banking and financial services sector is witnessing a concerted move towards business process outsourcing (BPO) as a strategic option. This industry is ideally suited for outsourcing, given large transaction volume, structured decision-making and reliance on rule-set processes. Outsourcing in this domain has shifted along the complexity and maturity spectrums from transaction processing to true business transformation. Progressive corporations are acknowledging the potential benefits from BPO in this segment and identifying road maps for process reengineering that will contribute to greater profitability. Outsourcing strategies are being driven by the twin objectives of cost rationalization and quality enhancement.

While the sheer volume of transaction related processes provide a compelling backdrop for outsourcing, optimum incremental value is derived by corporations, which seek end-to-end outsourcing solutions. These provide the opportunity for deployment of process improvement and quality initiatives.

Transaction Processing	Accounting
•  Application receipt •  Account opening •  Accounting entry •  Data input •  System operation •  Statement generation •  Account administration •  Database maintenance •  Billing & invoicing •  Payment processing •  Tracers	•  Payables / receivables •  Research & reconciliation •  Expense accounting •  Journal accounting •  Account consolidation •  Cost center accounting •  Account balancing •  Accounting statements •  Budgeting / MIS

Customer Service	Collections
•  Inbound calls •  Query handling •  Complaints •  Price quotes •  Outbound calls •  Telemarketing	•  Early stage •  Late stage •  Outbound calls •  Dialer •  Manual / Skip •  Inbound calls

Credit Underwriting
•  Credit decisions •  Risk assessment •  Scoring models •  Credit policy •  Compliance •  Documentation