Transforming Sales and Origination: Streamlined Automation for Client-Centric Banking
Overview.
The client is one of Canada's leading banking and financial services organization, providing commercial, personal, wealth management and small business financial solutions. Facing a fragmented sales and origination process, hindered their ability to provide the client a seamless, client-centric experience and limited the opportunities for cross-selling. sought to revolutionize their approach, making it more customer-centric and efficient. This case study highlights how Coforge provided an automated, integrated solution to address these challenges and make the client more customer centric and efficient.
Manual processes: Client had a manual process in place and a wide variety of disparate tools and systems, which were not integrated and did not support their sales and origination activities.
Product centric approach: The current sales and origination processes were product focused and offered a fragmented view of the client.
Inefficient processes: Products, forms and processes were largely designed for single product sales, resulting in duplication and manual entry of information.
Limited cross selling: Current systems resulted in an inability to understand and address clients’ total needs and hampered the ability to effectively cross-sell
Solution.
Coforge business analysis and business consulting services built a Pegasystems SmartBPM® based platform on top of Pega NBAA, NBB & SCM frameworks.
It automated the process of product sales and origination by integrating with all disparate systems.
It enabled the bank to intelligently cross-sell other products.
The Impact.
Complete automation of product sales and origination process with a customer-centric, useful, fast and friendly process that enables frontlines to increase client satisfaction, retention and product penetration.
Improved efficiency and enhanced client experience by having to capture client information once and feeding it to multiple product systems, thereby eliminating multiple entries of the same/similar data.
Digitization of all documentation thus reducing flow of paper and follow-ups for missing documentation as a result of improved workflow.
Automated the propagation of data to adjudication systems so that products that do not need manual adjudicators’ approval could be fulfilled without any manual hand-offs.
A task-based UI that enhances client experience by delivering streamlined needs based advisory process.
