Generating Revenues and Value through Service Consolidation
The convergence of banking, securities and insurance products and services has created a shift in the strategic business focus from gaining market share to increasing product sales from existing customers across merged institutions. It is not sufficient anymore to improve operational costs through new technology. To remain competitive in this new global financial industry, it’s essential for financial institutions (FIs) to create a more customer-centric model. The ideal solution will leverage all relevant services across the FI’s value chain in providing a unified view, and allow promotion of new products and services across all business functions to its customers.
FISC Solution Overview
Ness Technologies' Financial Institution Service Consolidate (FISC) solution enables FIs to address the challenges associated with mergers, acquisitions, and consolidation activities while focusing on generating immediate value and return on investment (ROI). The solution is built to help FIs increase revenues and decrease operational costs. The FISC solution brings together financial service applications (such as banking, insurance, and investment management and brokerage products) and business applications (such as sales, service, and marketing) into a single framework. As a result, users enjoy an aggregated view of the customer across all services, and a consolidated view of all services into a single desktop view. This facilitates the promotion of more products and services to the customer by the institution staff.
Key Features of FISC
Service aggregation
This feature provides aggregated services information for each product/service that the customer has at the financial institution. This feature provides the opportunity to consolidate all the services at the merged/extended institution and make it available to its staff in a single view.
Administration module
A configuration service feature enables each individual user to access different data sources and service containers where the applications reside. Role-based security allows the administrator to create new roles and assign privileges. The single sign-on feature enables one-time authentication into all applications to which the respective user has been assigned access.
Cross-sell/up-sell promotions
This feature collects customer-specific cross-sell/up-sell information from the relevant application and presents it to customer-facing employees during any given customer interaction.
Value-chain collaboration
This feature allows for collaboration of a “content” or event,” either inter- or intra-enterprise, facilitating productive discussions and collaborative work environments.
Other features
Dynamic scripting, recent interactions, update customer profile and account information, multi-channel support, identity management, open technology and adapters. FISC can be integrated with multiple media channels (CTI, web, email, media blending software), CRM business applications (sales, service, marketing/campaign), multiple databases (DB2, Oracle, SQL Server) and/or message pipes.
Key Benefits
Cross sell and up sell across consolidated services to directly impact the institution’s “top line”
Enable new business services online quickly
Reduce operational costs and risks
Provide business intelligence to deliver superior service and just-in-time, customized products to customers
Increase customer satisfaction and decrease customer churn by offering dynamic products and services that suit customer needs
Improve customer service and increase the efficiency of servicing the customer
Roll out all or most of the services to the staff cost-effectively via a single implementation of the product
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