FINANCIAL SERVICES

The financial sector has recently seen significant changes in its methods and infrastructures as it has adapted to changing consumer needs and technological landscapes.

An increasing number of non-traditional players have introduced new technologies to address the needs of the financial sector in dealing with these changes, in areas as diverse as money transfers and banking security. These changes put existing infrastructures and ageing systems under pressure to evolve to meet the demands for a more secure, reliable and confident financial sector.

As part of these changes, the financial industry is increasingly viewing IT systems as an investment that can help to generate future growth and improvements in profitability. CRITICAL Software’s expertise in cutting-edge technology solutions, innovation and successful project management places the company in an ideal position to partner clients in the financial services sector looking to adapt to these changes.


Analytics for Marketing and Campaign Management

Changes in the way people absorb and consume information enables companies to communicate with them in new, meaningful and more personalised ways. Mass-communicating with audiences using generic e-mail marketing tools no longer connects companies effectively with their target customers.

CRITICAL Software offers an effective, end-to-end multichannel Marketing & Campaign Management solution that manages entire campaign lifecycles - from the initial segmentation of target customers to the logging of subsequent customer interaction and feedback. Within a single platform, our solution:

  • Enables the construction of customer profiles in order to create personalised, targeted marketing campaigns.
  • Creates, controls and monitors the execution and outcomes of these campaigns.
  • Monitors target customer interactions that result from these campaigns, managing follow-up actions and supporting further development of the most effective campaigns.

Integrating with existing information systems and deployable in the cloud or on client sites, our solution automatically organises target customers into intelligently-defined profiles. The power of predictive analytics then allows these profiles to be automatically updated in real time as further information is acquired, according to predefined, dynamic rules.

Based on these profiles, clients can easily create and manage a range of personalised digital marketing campaigns, including SMS, e-marketing, blogs, social media and more. An intuitive user interface supports easy campaign creation, alongside an easy-to-use e-mail template designer.

Advanced functions like interaction heat maps and A/B testing allow campaigns and follow-up actions to be intelligently adapted on the fly. Predictive clustering techniques for target customer profile segments display campaign outcomes visually, supporting faster analysis of results. Analytics on a wide range of other campaign and target customer information can easily be accessed too, providing real-time information that allows campaigns to be adjusted and incrementally improved. Indeed, based on historic executions, our platform supports campaign improvements through automatic learning.

The integration of information from multiple data sources is also supported, as well as integration with third-party applications using standard APIs. Fully-customisable and quick to set-up, our solution is based on cost-effective bpm'online tools, providing complete control of how financial organisations communicate with their target customers and win business, from start to finish.

BPM for Retail Banks

Financial institutions are facing increasing demands on their back, mid and front-office processes, with a rising number of regulatory, risk management and efficiency requirements to be met. At the same time, the integration of new digital technologies is increasing the demand for automated banking processes that are able to integrate with existing core applicaitons, with new customer-facing apps and technologies replacing traditional interaction channels.

CRITICAL Software’s Business Process Management (BPM) solutions support and digitise key retail bank processes, integrating them with existing core applications and day-to-day processes such as:

  • Account openings
  • Customer information management
  • Issuing bank cards and processing cheques
  • Money transfers
  • Credit approval workflows
  • Customer subscriptions to digital services

Our BPM solutions help retail banks to reduce their operational risks and make day-to-day banking processes more efficient and productive. They also provide a technical framework that brings together all retail banking processes and merges them into a single, intuitive, fully-integrated software tool that securely connects digital channels and front and back-end operations.

Our BPM technologies are a key enabler of ‘process dematerialisation’, allowing banks to avoid manually managing processes across multiple systems, something that often results in inconsistent data, errors and slower customer response times. Our BPM solutions instead provide a uniform set of configurable, consistent workflow structures that reduce human mistakes, eliminate duplicate inputs, increase process transparency and improve turnaround times.

Our BPM solutions also digitise document archiving and integrate such documents with transactions, which means that documents are able to be centralised within a single system, making tasks like searching for information and documents much easier. Throughout all business processes, users are guided according to pre-defined, standardised instructions and rules too. Our BPM solutions also deliver features that improve banking security, helping in areas like fraud prevention and putting in place digital authorisation and access rules across secure and traceable banking processes.

All of this simplifies and speeds up branch-office operations, providing a unified front-end, as well as reducing the number of deployed systems, reducing the gaps between such systems, increasing process control and visibility and allowing the monitoring of ‘quality of service’ indicators. An integrated 360º view of customer information and metrics also provides a dynamic, birds-eye view that displays key measures of success in easy-to-read dashboards and reports.

Our BPM solutions are tailored to client requirements, integrating with existing data, tools and systems to ensure quick adoption. Having delivered a number of large-scale solutions for banking clients, we are proud to have been nominated for a prestigious IBM Beacon award for our implementation of BPM systems. We are also an established partner of multi-award winner bpm'online, and our own BPM Centre of Excellence hosts certified professionals with many years of experience implementing large-scale BPM processes across several industries – including for both retail and corporate banking sectors.


Know more
Connected Processes for Better Banking Case Study
Connected Processes for Better Banking Case Study
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Connected Processes for Better Banking Infographic
Connected Processes for Better Banking Infographic
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