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Financial Services Firms Can Orchestrate Their Digital Transformations by Leveraging a BPM Platform

Financial services firms offer a diverse set of products to different customers in the personal and commercial business areas. Meeting business objectives while ensuring customer retention and satisfaction requires detailed knowledge of customers and the products offered.

The challenge for institutions comes at a number of levels. It starts with training employees that possess the requisite knowledge and experience to deliver excellent service. Equal in importance is the need to have the technology in place to support the increasing frequency and complexity of business interactions and transactions.


Unfortunately, most institutions have systems and applications in place to support specific business functions that do not integrate well. Many are held back from achieving a fully executed digital strategy by back-end data access and integration problems that degrade project timelines and application quality.

An effective way to address system integration issues is to leverage a Business Process Management (BPM) platform. A BPM platform enables all of the customer and product information required for today’s diverse product offerings to be delivered from a single hub.

The range of business functions that can be enabled or streamlined with a BPM platform is broad and normally includes workflow, case management, and portals. Newer versions of the technology also include out-of-box features to accelerate user interface development, create process flows, and enable mobile functionality. Predictive analytics, social media, and localization capabilities are also starting to appear.

Typical BPM-enabled business functions have a digital or paper document associated with the process. BPM is also employed effectively for case management. Here are some examples:

Streamlining the Application Process

As an application for a loan is processed, some of the information is captured online, but other data must be collected from external sources. These include income verification, property appraisal, insurance certificates, mortgage insurance and other items. Borrowers are often frustrated by the seeming lack of coordination between the different departments at the lending institution, especially when asked to submit information for the second time.

With BPM, the process can be organized around work queues that share the same database, eliminating duplication. Management data, such as the number of days a work request is waiting for a response, is also presented to facilitate proactive intervention. The BPM system can send out reminders automatically as well, increasing customer satisfaction by reducing the overall time to process the application.

Optimizing the Call Center

A customer contacts the call center and, unable to resolve the problem, the rep creates a case in the BPM system and forwards it to a queue in the system for the appropriate back office department, which receives the case. This is the classic example of how BPM improves the customer experience. With thousands of customer cases in process, metrics around them inform management on a host of issues. For instance, do we have the correct number of representatives working in the middle and back office departments? Is the mean time to resolve customer issues acceptable? How competent are the representatives in the back office based on timeliness and quality of the resolution.

Knowing the Customer

The lines between customer relationship management (CRM) and BPM are often blurred. Some BPM platforms have functional capabilities to encompass CRM functions. However, the institution often has a CRM in place, and the BPM system must interface with that technology. From a customer perspective, we want the institution to “know” us and not ask us to resubmit information time and again.

For example, if our company is a commercial customer and now requires treasury services in order to send wire transfers, the onboarding function to the treasury department can receive the request from the BPM system and gather the data to satisfy the “know your customer” regulatory requirements and clear the “Anti-Money Laundering” and FACTA assessments.

Working with financial services firms towards a common goal of the digital enterprise, NIIT Technologies can create a BPM platform that enables the integration of business functions, which can be delivered over any channel to improve the customer experience. The BPM platform also improves business operations with streamlined and integrated processing that automates many tasks that have been performed manually.

A BPM platform is cost-justified investment and effective tool to solve data integration problems and support the digital enterprise across all product areas. By driving innovation and enabling agility, additional revenue can be generated from quick time-to-market product initiatives. It makes the CTO more responsive to the business side and stretches IT budgets with a simplified architecture that facilitates future modernization of back-end systems.


BPM platforms increase transaction efficiency while maintaining back-end systems control and governance. NIIT Tech, along with our Incessant team, has leveraged BPM platforms to create a range of critical customer-focused applications, including:

  • Account Opening and Client Onboarding
  • Bank Account Management
  • Payment Investigation and Exception Handling
  • Loan Origination
  • Card Dispute

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