BFSI BPO

Establish trust

that lasts a lifetime

Our BFSI clients rely on us to help create customized offerings that help customers fulfil their aspirations, shaping not just a transaction but a relationship for life.

 

BFSI

With the aggressive pace of global expansion being adopted by several corporations, the role of the Banking, Financial Services and Insurance (BFSI) sector has become more crucial than ever. In line with client needs, BFSI service providers are creating customized products & platforms and expanding geographic presence globally, at a pace never seen before. On the retail BFSI front, many more products and concepts continue to emerge, giving individuals so much more to choose from in order to achieve their financial goals. Players in the BFSI sector have a wider canvas on which to paint, but equally strong competition and market forces to keep in mind.

Technology, for instance, has transformed the world of financial services. Those in the BFSI industry are required to offer their services on multiple platforms (online, mobile, even social media), while adhering to strict regulatory guidelines, countering data security threats and providing a consistently positive user experience. In addition to this, challenges such as maintaining asset quality, improving risk management mechanisms and the like remain, especially relevant in the post-recession era. This unique mix - of increased competition, stricter regulations, rapidly growing consumer needs and technology influx - make the BFSI world a truly challenging one to operate in.

Business Process Outsourcing offers immense scope for the BFSI sector to address these challenges, while bringing greater stability to a frenetic and competitive industry. From supporting customer acquisition initiatives, to providing integrated views of spending behaviours, boosting profitability and providing consistent customer service across channels, outsourcing has much to offer to the BFSI sector.

At Conneqt Business Solutions, we enable several reputed BFSI companies to take on the challenges of a changing world with a greater sense of assurance.

 
 

Offerings and benefits

Challenges

Increased competition from non-banking companies
Customer acquisition and loyalty in the retail space
Multichannel distribution by insurers
Data integrity and data management

Solutions

  • Smart analytics
  • Customer behaviour
  • Market research
  • Base lining
  • Benchmarking
  • Lead generation
  • Cross-sell, Up-sell
  • Tele-sales
  • Integrated campaigns
  • Loyalty programs
  • Retention services
  • Churn management
  • Voice-of-customer
  • Force
  • Feedback
  • Observations
  • Requests
  • Complaints
  • Enquiries
  • Inbound call support
  • Web chat and SMS support
  • Productivity apps
  • Hosted / cloud-based
  • Personalization apps
  • Workflow automation
  • Analytics platform
  • Contextual collaboration
  • Product support
  • Technical support
  • Applications support
  • Installation & trouble-shooting

Benefits

  • Proactively assess customer behaviour, enhance product innovation and retain customers
  • Successfully meet rising customer expectations in the wake of increased competition from tech giants, telcos and retailers (esp. in the area of payments)
  • Sustain customer profitability rates
  • Boost customer loyalty and interest in new offerings
  • Provide consistent service and experience across insurance sales channels - call centers, banc assurance, internet and mobile
  • Illustrate product benefits, shorten customer response time, and simultaneously serve multiple customers
  • Availability of relevant, reliable and timely data to enable decision making
 
 

Case Studies

 

Conneqt Business Solutions serves several BFSI clients, delivering significant business results:

  •   Insurance Solutions
  •   Public Sector Bank
  •   Loyalty Management
  •   Non Banking Financial Company
 

Leading provider of insurance solutions in the retail and commercial space

  • Provide pan-India support for issuance of policies to assist dealers across the country where infrastructure is a hurdle
  • Manage the grievance redressal forum, aiding transparency in operations for dealers, customers and insurance companies

Insurance arm of largest public sector bank in India

  • Consistently maintaining FTR above 95%
  • Improved call quality score to 96% within four months

Largest loyalty management program in India

  • Effected cost savings by cross-skilling agents for different rewards programs for various banks, ensuring better utilization of resources during peaks
  • Conversion ratio for accounts activation is above 75%
  • Improved quality scores from 85% to 95% within a span of eight months

India's leading non banking financial company

  • Dormant calling has helped client to get more customers to trade, resulting in an increase in customer base and revenue
  • Follow-up team has helped client track performance of on-field sales force
  • Lead rejection analysis has helped client redesign the qualifying criteria to improve lead count
  • Improved lead conversion percentage from 8% to 12% within three months
  • Analysis of different promotional initiatives has helped client take important decisions on the marketing front
  • Lost lead calling has helped to track the dealer/branch performance and service delivery quality
 

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happy employees

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Successful Customer Connects
Annually

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Feet-On-Street Locations; 29 Delivery Centers

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Customer Languages

 

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© 2018 Conneqt Business Solutions Limited.
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