The surge in digital banking represents a huge opportunity for banks to get closer to their customers and to understand and anticipate their needs. At the same time, many retail banks are struggling to adapt to the changing requirements of customers due to increasingly inefficient legacy systems.
In a challenging industry, tightened regulation and increased scrutiny is also forcing banks to overhaul processes, products and systems to ensure compliance.
Firstsource has helped a number of leading retail banks transform their business operations, ensuring that they remain at the cutting edge of the industry, whilst delivering improved customer experiences.
Firstsource operates as clients’ ‘bank within a bank’, offering end-to-end solution for all their main support functions, while providing a range of services across the customer lifecycle, including acquisition, account servicing, collections and retentions.
Our flexible and cost-effective solutions can be rapidly scaled or downsized to adapt to the requirements of our clients.
An important aspect of running a financial institution is the everyday commercial finance operations that help keep businesses running smoothly. Undertaking this task successfully often requires expensive technologies, complex processes and extensive resources.
By outsourcing their commercial finance operations to Firstsource, organisations can focus on growing their business and serving their customers, safe in the knowledge that their day-to-day financial processes are in a safe pair of hands.
The client, a prominent bank in the UK, provides commercial financing solutions to businesses. The client faced challenges of legacy systems that impacted customer experience and resulted in a high cost of service and exceptions management within their invoice factoring and discounting function. The Firstsource solution reduced cost-to-serve and delivered savings of $ 3 million.
of total business process volumes automated within 32 weeks, with 100% accuracy
RPA penetration was achieved across 33% of the processes in scope
The client was struggling to address the challenges and inefficiencies of operating across six individual channels for customer servicing and partnered with Firstsource to help refine the customer journey and optimise channel performance. The Firstsource solution delivered reduced costs through contact avoidance, as well as a reduction in call volume.
reduction in voice calls
increase in contact avoidance
annual cost savings
Ulster Bank needed a flexible partner with customer service expertise to provide inbound telephony services for customers and support operations. Firstsource’s experience in customer management, its pool of skilled advisers and a local presence in Belfast proved to be the ideal solution.
overall cost reduction
reduction of incoming calls
Firstsource staff working seamlessly on client site
This prestigious designation is granted only to the best and most disruptive BPO companies
We believe in long term partnerships - over half of our clients have been with us for 7 years or longer
We deliver 24/7 customer support aided by advanced analytics, RPA and cutting-edge technology