Financial and Banking
In the financial sector, we find companies dedicated to Banking, Insurance, Sofomes (Multiple Purpose Financial Company or SOFOMES for its initials in Spanish), Public / Private Finance Institutions, Investment Funds, etc.
- High competition with international and national players.
- Commoditization of the offering / overlapping among products and services.
- Opportunity differentiation for Customers and decreased “switch” cost, related to new local and international regulations.
- High costs of regulatory compliance that does not contribute positively to the P&L.
- Increases in the cost of “serving” that do not contribute directly or in proportion to the growth and / or the profitability.
KEY BUSINESS PROCESSES
- Financial hedging to offer products with very competitive rates in the long run.
- Analysis of the information and adjustment of the portfolio offering (Big Data Analysis).
- Development, Professionalization and Management of the Sales Channel and the processes that serve those channels.
- Massive but flexible operations, with shared information across processes, supported with Contact / Call centers.
- Marketing campaigns with effective communication.
- Accounts receivables collection management.
- Credit origination and lending with adequate and predictive risk measurement.
CHALLENGES AND OPPORTUNITIES
- Retention and fidelity strategies, as well as targeted cross-selling to the end client.
- Service level agreements under the internal customer-supplier philosophy (back-front office processes).
- Eliminate bureaucracy in processes and decision-making.
- Comprehensive care of the client seeking to place different products and services.
- Keeping incidences of non performing loans (NPL) parameters within visibility throughout the entire process: Extrajudicial and Judicial.
- Parametrization of origin in databases, and pragmatic as well as clear interpretation for decision making by subject and accountability (“Big Data” Models).
- Gain specific certifications to run and manage funds in state-owned companies and within the Public Sector.
- Understand what the customer acknowledges as “value” and differentiate into “delivery” in different portfolios of products and services;
- Linking cross-selling products based on patterns of use with technology support in a simple way;
- Simplify the procurement of products and services;
- Robust and systematic risk management under suitable and focused parametrization;
- Variable payments schemes to promote a results oriented culture and achieve goals; among others…