The Significance of ERP Solutions in the Banking, Financial Services, and Insurance (BFSI) Sector
Introduction to ERP Solutions in the BFSI Sector ERP encompasses almost the entire organization and all of the business functions. The software that implements the business functionality is separated into configurations or modules. In many ERPs, famous modules are CRM, HCM, Financials, SCM, and Logistics. It often includes cost-effective transaction processing that facilitates financial reporting, […]
The Benefits of Paperless Teller Operations in Banking Branches
Introduction to Paperless Teller Operations End users are ready to adopt new technology in the teller station. The ATM is a good example of this. Teller automation has lagged behind. If designed properly, paperless teller operations can automate high-value teller transactions. This reduction in time required to conduct transactions will permit tellers to introduce other […]
The Benefits of Implementing an Effective Branch Customer Visit Management for the BFSI
Introduction to Branch Customer Visit Management These visits, however, have to be with the prior appointment. The waiting time if customers are not provided with a prior appointment could be with great discomfort. You may lose some of your existing customers as well as a lot of potential ones. The basic objective of any business […]
The Significance of Modern CRM Solutions in the Banking, Financial Services, and Insurance (BFSI) Sector
Introduction to CRM in the BFSI Sector Therefore, bank managers must determine the expectations and real needs, including the ignore of their current customers, to develop strategies. Banks have increased the audience for CRM, which is focused on building and maintaining relationships, not on focusing. For client relationships, technology is coming to an agreed-upon, growing […]
The Importance of Modern CRM for Digital-Only Banks
Introduction to Digital-Only Banks and CRM Being present only in the digital world means having the client interact with the bank through a smartphone app, a bank’s webpage, social networks, or chatbots. The robot user interface is the most challenging to implement. We need to understand customer needs and triggers, which, to a significant degree, […]
Leveraging Customer Analytics for Effective Upselling in the BFSI Sector
Introduction to Customer Analytics in BFSI ‘Tooling up’ with customer analytics and effectively using the related techniques will enable firms to analyze customer data, further understand the segments they cater to, and strategically use the data. It also helps financial institutions not only in increasing their customer base but also in adding new services. By […]
Exploring the Benefits of Biometrics and Electronic Signatures Solutions in the BFSI Sector
Introduction to Biometrics and Electronic Signatures Biometrics is a technology used to identify a person based on their unique physical and behavioral characteristics, which may include fingerprints, hand geometry, irises, voice patterns, and others. Biometrics belongs to the fastest growing innovative security technologies used in the fields of banking, finance, military, and government. In this […]
Navigating the Challenges of Digital Transformation and Personalized Offerings in the BFSI Sector
Introduction to Digital Transformation in the BFSI Sector Today’s customers expect more from their financial institutions. Many are unwilling to rely solely on the financial security of these brands, as wealth is now multi-dimensional and has permeated the broader world of technology and service provision. This means that banks, insurance companies, and fund managers are […]
Advanced Data Analytics for the Banking, Financial Services, and Insurance (BFSI) Sector
Introduction to Data Analytics in the BFSI Sector Now, the commercial benefits from big data and data analytics are no longer to be sold, and evidently, these opportunities have been reflected. The banking, financial services, and insurance companies have taken steps to set up new departments dedicated to big data analytics and have started recruiting […]