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| Home > Industry Focus > BFS |
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After years of cost cutting initiatives, sustained and consistent revenue growth has returned as the main agenda for the Banking and Financial Services Industry today. However new geographies, new products and new channels have made the operating models too demanding. The Banking industry is experiencing a strong drive for simplified operating models, whose aim is to leverage scale and realign capabilities across internal business silos.
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| Equally important, banks are trying to increase the level of flexibility of their operating environment to accommodate fast business change while experiencing the least amount of pain. |
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| HCL advantage |
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HCL helps Clients seek solid business results from both IT investments and improved business processes. It also helps the Clients in the integration of 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, HCL has evolved innovative ideas towards transforming the way processes are delivered, thereby creating significant value to Clients. HCL BPO focuses on core capabilities and expertise necessary to provide world-class service offerings. The organization has developed a robust model ‘ARMORTM’, which enables accelerated and seamless migration of processes from the Client environment. This unique methodology enables HCL BPO to provide highly tailored and optimized BPO solutions that address the Clients’ ever changing business requirements. |
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| Service Offerings |
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The Banking and Financial service practice is 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. |
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| Retail Banking |
Mortgages |
Credit Cards |
Asset Management |
| Front Office Service |
| Inbound Campaign Management, Outbound Telemarketing, Customer Care including Account Queries and Problem Resolution |
| Back Office Services |
| Account opening and processing services |
Origination (application verification and processing) |
Application screening and
card issuance |
Fund Accounting |
| Account information capture |
Account management (disbursals and collections, payment reconciliation) |
Customer account management |
Fund Administration |
| Check clearing |
Pre-Closure, Closure and Post Closure Services |
Limit enhancements |
Transfer Agency |
| Check payment reconciliation |
MIS reporting |
Accounting and payment reconciliation |
Security and Trade Reconciliation |
Statement processing
ATM reconciliation |
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MIS reporting |
Management Fees |
| Management reporting |
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Revenue Expenses |
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Capital Expenditure |
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Static Data Management |
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| SCM for BFS |
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| The supply chain in financial and banking sector has been lengthening as a result of globalisation and offshore production. Many companies are experiencing a reduction of capital availability. |
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| In addition, the pressure faced by organisations 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. |
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| Market trends with respect to the global supply chain have caused companies to demand an integrated approach/solution to physical and financial supply chain challenges: |
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| HCL’s specific service offerings include: |
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| Spend Analytics |
Supply Chain Strategy |
Procurement |
Data Management |
| Spend Diagnostics |
Strategic Sourcing |
Procurement of indirect materials |
Customer Master Data Management |
| Corporate Spend Analysis |
Suggest future procurement requirements |
Order Processing Automation - send POs electronically to suppliers directly from procurement system |
Product Master Data Management |
| Sourcing Analysis |
Supplier Performance Management |
PO Tracking |
Customer Analytics |
| Strategic & Operational Recommendations |
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Electronic invoicing – invoices sent directly into back-office systems eliminating manual entry activities and accelerating processing |
Audit Reporting |
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| Email: marketing.bpo@hcl.in |
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