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BPO / CALL CENTER SERVICES - Banking and Financial Services Back

After years of cost cutting initiatives, sustained and consistent revenue growth has become the main goal for the banking and financial services industry today. However, new geonomics, products and channels have made the operating models too demanding. The banking sector is experiencing a strong drive for simplified operating models to leverage scale and realign capabilities across internal business domains. They are also trying to increase the level of flexibility in their operating environment to accommodate change while getting least pain.

CGC advantage:
CGC helps its clients in securing solid business results from both their IT investments and improved business processes. We also guide our valued clients in integrating their business and technology and assessing IT’s value not only in reducing costs, but also in enabling productivity and innovation. Combining process competence in BPO and technology capability in IT, CGC has evolved innovative ideas towards transforming the way processes are delivered, thereby creating significant value for clients. We emphasize on core capabilities and expertise necessary to provide world-class service offerings and have developed a robust model, which enables accelerated and seamless migration of processes from the client environment. This unique methodology has enabled CGC BPO BU to provide tailor-made services that address the client’s ever changing business needs.

Offerings:
The banking and financial service domain can be broadly aligned in the following micro-verticals. These highly defined service offerings comprise of domain experts and technical architects ably supported by strong solution teams.

  Front Office Service
  Retail Banking
  • Inbound Campaign Management
  • Outbound Telemarketing
  • Customer Care including Account Queries and Problem Resolution
Mortgages
Credit Cards
Asset Management

  Back Office Service
  Retail Banking:   Mortgages:
  • Account opening and processing services
  • Account information capture
  • Check clearing
  • Check payment reconciliation
  • Statement processing ATM reconciliation
  • Management reporting
  • Origination (application verification and processing)
  • Account management (disbursals and collections, payment reconciliation)
  • Pre-Closure, Closure and Post Closure Services
  • MIS reporting
  Credit Cards:   Asset Management:
  • Application screening and card issuance
  • Customer account management
  • Limit enhancements
  • Accounting and payment reconciliation
  • MIS reporting
  • Fund Accounting
  • Fund Administration
  • Transfer Agency
  • Security and Trade Reconciliation
  • Management Fees
  • Revenue Expenses
  • Capital Expenditure
  • Static Data Management


Supply Chain Management (SCM) for Banking & FS

In view of globalization, offshore production and economic recession, the pressure faced by companies to improve cash flow has resulted in increased pressure on their overseas suppliers. While buyers are extending payment terms to their suppliers, the suppliers often have limited access to short-term financing and, therefore, a higher cost of money. This cost shifting to suppliers results in a financially unstable and higher-risk supply base.

Due to changing market trends with respect to the global supply chain, companies are looking for an integrated solution to physical and financial supply chain challenges, including:

  • Suppliers are looking to obtain funds earlier in the supply chain at favourable rates, given buyers’ desire to delay inventory ownership
  • Globalisation of the manufacturing bases has resulted in fewer domestic assets that can be leveraged to generate working capital
  • Most small and medium suppliers are located in countries that lack well-developed capital markets. Without access to efficient and cost-effective capital, production costs increase significantly or the suppliers go out of business
  • Letters of credit, a long-standing method of obtaining capital for suppliers in less developed countries, are on the decline as large buyers are forcing suppliers to move to open account
  • There is a desire to ensure stability of capital as supply chains get longer

CGC’s specific service offerings include:

  Spend Analytics:   Supply Chain Strategy:
  • Spend Diagnostics
  • Corporate Spend Analysis
  • Sourcing Analysis
  • Strategic & Operational Recommendations
  • Strategic Sourcing
  • Suggest future procurement requirements
  • Supplier Performance Management
  Procurement:   Data Management:
  • Procurement of indirect materials
  • Order Processing Automation - send POs electronically to suppliers directly from procurement system
  • PO Tracking
  • Electronic invoicing – invoices sent directly into back-office systems eliminating manual entry activities and accelerating processing
  • Customer Master Data Management
  • Product Master Data Management
  • Customer Analytics
  • Audit Reporting

 

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