Consumer and commercial lending post origination transaction processing services, such as check processing, clearance and settlement services, remittance, and records management.These most commonly include payment processing systems and services, customer service or call center support operations (voice, digital, e-mail and mail services), product renewals, and loan disbursement document management services such as printing and mailing of statements, networked printing and storage solutions collections, recoveries processing, default management, risk management and foreclosure. Account servicing processes for credit cards or consumer loans.New customer acquisition services include telemarketing activities, application processing, underwriting, customer or merchant credit evaluation and verification, credit approval, document processing, account opening and customer care and on-boarding.Some larger financial services organizations choose to extend their sourcing strategy to include other outsourced services such as ITO systems and software, human resources outsourcing and benefits services, finance and accounting outsourcing (FAO) services, procurement or training outsourcing.īanking BPO services are typically defined by industry analysts, advisors and leaders in the sourcing industry, such as the set of discrete processes or transactional activities that support the lending lifecycle as follows: These specific BPO services are usually offered through multi-year service-level agreements for all or portions of the credit card lending, consumer lending or commercial lending segments of the financial services market. Adherence to set processes of updating customer interactions in CRM next.Banking business process outsourcing or banking BPO is a highly specialized sourcing strategy used by banks and lending institutions to support the business acquisition and account servicing activities associated with the customer lending lifecycle.Ensure accurate and timely submission of financial transactions & requests.Ensure adherence to process and audit requirements.Attrition control of portfolio customers.Carry out profiling of customers and carry out cross-servicing of the identified service products.Increase portfolio size through grouping options.Sales balance across all product segments-TPP, Assets, Cards etc.Increase liabilities size of relationship and penetration of products across family groups.
Ensure that the VRM meets the defined objectives of the Portfolios raced under VRM program.Accurate logging and resolution of requests and complaints.Achievement of Contact policy defined & manage Call handling as per defined standards.Improve profitability by right product placement, leveraging technology to deploy a low cost digital mediums & scalable self-service model of affluent banking which is also in line with changing customer preferences in banking.Objective is to enhance their Relationship & while doing so, Educate, Encourage & Induce the customers to use the Digital mediums for their banking transactions/ needs and at the same time keep a "window' to talk to the bank whenever customer needs.
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