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.

MARKET

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.

RECOMMENDATIONS

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…