Traditional banking institutions are facing huge disruptions, while the digital growth is propelling changes in technology as well as customer mind-sets.
To thrive, they need to modernize the core platforms, adopt analytics, automation and artificial intelligence to deliver digital services.
Conneqt’s comprehensive range of BPM services across the entire spectrum of banking services and solutions take technology-agnostic approach to help banks in digital transformation.
The economic downturn has resulted in a number of challenges facing the retail banking industry including increased regulatory pressure, lower interest rates, and a shift toward digital. They need to rebuild their organizations around the customer, simplify, and structurally reduce cost. The key focus should on enhancing agility, providing innovative solutions and being adaptable in order to execute effectively.
Conneqt provides an end-to-end suite of technology, analytics and process solutions across the Retail Baking. Our solutions tailored to maximize results across key levels of the industry from strategy and customer service.
- Marketing and Sales :Digital Marketing/Promotional Campaigns, Lead Generation, Campaign Analytics, Social Media Promotions, Sales, Cross sell/ Upsell, Balance Transfer, Customer Profile Validation, Customer profile creation data capture, Document fulfillment, Scanning & data capture
- Customer Support :Account Management Support, Welcome kit issuance, Mobile Banking / Internet Banking Support, Technical Support (L1 / L2 / L3), Tele Assist / Web Help, Welcome Calls, Email / Chat Support, Offer Calling, Loyalty Programs, Satisfaction Survey / Happy Calling, Dispute Management, Settlements, EMI/Query Management
- Account Maintenance :Application Indexing and Processing, Account set-up, activation, Transactions processing, Account maintenance and updates, Fixed / Term / Recurring Deposit Support, Bank / Cash Reconciliations, Processing and Settlement for Online Transfers (Cheque, SWIFT, ACH, ECS), Stop Payments, Cash management, Payment Processing , Account audit support, Data Analytics, Financial models, forecasts, updates, Report preparation, Billing Management services
- Risk Management :Account Performance Analysis and Reporting, Transaction Monitoring, Credit Scoring and Reporting, Credit Portfolio Monitoring, Rule-based Credit Limit assessment, Book Performance, Analysis and Reporting, Delinquency Trend Analysis, Early Warning Indicators
Fraud Detection, Fraud Investigation, Suspicious Activity Reporting, Market Research.
- Collections :Reminder Calling, Follow up / Confirmation Calling, Collections for early Delinquencies, X Bucket to 90 Day / Deep Lapse Calling, PU Generation, Field Pick up and collections, Document / Cheque / Cash collections, Online Payment on field, Collecting new or updated phone numbers, Skip Tracing, Write Offs
The credit card industry has evolved as the most significant non-cash payment channels over the years, and its ability to replace cash transactions as a medium of exchange is unparalleled. With rising competition, new regulations, and risks, the task of card issuers has become complex. They also need to take care of other aspects of business like loyalty incentives, regulatory compliance, fraud management, and adherence to risk management policies.
Conneqt’s services help credit card issuers to transform their business processes, reduce costs, and improve financial processes. We also help in improving the business intelligence and fraud management.
- Customer Acquisition :Digital Marketing/Promotional Campaigns, Campaign Analytics, Social Media Promotions, Lead Generation, Phone Based Qualification, Digital Sales, Cross sell/ Upsell, Referrals Campaigns, Balance Transfer, Loyalty Program Enrolment
- Customer Support :KYC, Welcome Calls, Email / Chat Support, Account Inquiries Support, Offer Calling, Loyalty Programs, Satisfaction, Survey / Happy Calling, Dispute Management Settlements
- Card Management :Form Processing (Indexing &Data Entry), Credit Checks and Verification, Rules-based Approval / Decline, Credit Limit Assignment (Underwriting), Account activation, Customer Data Maintenance, Billing and Statement Processing, Payment Processing, Loyalty Program Management, Redemptions, Bank and Account Reconciliation, Fraud Management
Charge Backs / Retrievals Processing, Hot listing, Account Closure, Write Offs
- Merchant Support :Merchant Onboarding, Account Inquiries & Maintenance, Payment Processing and Adjustments, Chargeback / Retrievals Management, Account Reconciliation, Dispute Management, Settlements
- Collections :Collections for early Delinquencies, Follow up / Confirmation Calling, X Bucket to 90 Day / Deep Lapse Calling, PU Generation, Collections for NPA’s Involving Negotiations & Settlements, Field Pick up and collections, Document / Cheque / Cash collections, Online Payment on field, Collecting new or updated phone numbers, Skip Tracing
Mortgage lending industry challenged with constant need to keep up with the new regulatory compliance, tighter budgets, high costs, and changing technologies. Conneqt has extensive experience in loan and mortgage operations, and uniquely positioned to help mortgage services with next-generation process management and business transformation. We help create sustainable business impact for our BFSI clients through our key enablers, which includes people, platform, processes and partners. We bring significant cost savings through process improvement and productivity enhancements.
- Sourcing :Digital Marketing/Promotional Campaigns, Lead Generation, Campaign Analytics, Social Media Promotions, Cross sell/ Upsell, Balance Transfer
- Origination :Loan Document Indexing and Verification, Missing Document Reporting, Identity Verification, Verification of Employment or Source of Income, Asset Verification, Title Examination, Credit Checks, Fraud Risk Assessment, Collateral Risk Assessment, QC and Fraud Audits, File Log in
- Loan Processing and Underwriting :Asset Valuation, Financial Assessment, CAM preparation, Credit Underwriting, Collateral Risk Underwriting, Policy & Compliance Audits, Condition Clearing and Validation, Credit Approvals
- Disbursements :Wire / DD Generation, Release order preparation, Authorization, Payment Processing, Draw Closing Documents, Account Creation, Post-closing Audit
- Servicing :Welcome Call, Loan Inquiry Customer Support, Prepayment Support, Foreclosure Support, Statement Generation and Reporting, Escrow and Tax, Billing, Adjustments, Statutory Reporting & Accounting, Change request, Policy servicing, Reminder & collection communication
In today’s demanding customer and regulatory environment, Conneqt’s collection services help clients across the banking and financial services sector reimagine the
debt collection experience of the consumers, while ensuring compliance and successful recovery operations. We strategically transform clients’ collections operations by driving tangible improvements in customer-centricity, compliance, and profitability while retaining the brand value
- Soft Collections :Reminder Calling, Follow up / Confirmation Calling, Collections for early Delinquencies, Collecting new or updated phone numbers, Early Warning Indication for Defaulters
- Dep Lapse Collections :Collections Calling for early Delinquencies, X Bucket to 90 Day / Deep Lapse Calling, PU Generation, Collections for NPA’s / Stressed Assets Involving Negotiations & Settlements
Daily / Weekly / Monthly Reporting, Write Offs
- Feet on Street :Field Pick up and collections, Document / Cheque / Cash collections, Online Payment on field, Collecting new or updated phone numbers, Skip Tracing
Our experienced banking professionals work across a spectrum of banking segments. We have deep analytical experience in the area of Loan Modification- Fraud Detection. We implement predictive analytical models to offer delinquency models, propensity of mortgages becoming delinquent and mitigation forecasting. We deploy automation solutions where necessary.
Proven Track Record
We have a proven record of accomplishment of integrating core-banking systems with other enterprise systems such as CRM and Integration Solutions.
We introduce process reengineering and process rationalization to reduce costs. We deploy flexible platforms with the ability to interact with a host of applications.
Marketing Technology Statistics
Panel Discussion: Are Shared Services And Outsourcing An Asset In Supporting Innovation And Growth
Our CEO Mr. Neeraj Tandon had moderated the panel discussion themed ““Are Shared Services And Outsourcing An Asset In Supporting Innovation And Growth,” organized by Programmic Asia on 16th October, 2020 11:10 am.
Other eminent panellists included Bhavesh Jain, Director – Global Financial Planning, Komal Gupta, CFO – Womdlas Biotech, Vishal Bhimani, CFO – Britannia International Business & Rajnish Magan, CFO – Beumer India.
Key points of discussion included:
- Reconsidering Finance Outsourcing in a Post-COVID World
- Debunking common misconceptions on shared services and outsourcing
- Has COVID disruptions accelerated the need for Modern Finance Organizations?
Webinar on - " Way Forward - Global Business services and Outsourcing Industry "
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