BPO Solutions for Banking and Financial Services Industry

The Banking and Financial Services (BFS) industry is experiencing significant turmoil. Market volatility, increased regulation, shrinking demand, globalization and competition are driving the industry to adopt new operating models. Banking BPO (Business Process Outsourcing) and Financial Services Outsourcing has been adopted as a key strategy to survive and thrive.

WNS helps leading BFS companies to ‘extend their enterprise’. Our deep domain expertise, global delivery network and strong focus on operational excellence allows companies to focus on their core business while WNS delivers business processes, and supports decision making through its rich research and analytics capabilities.

WNS combines industry best practices and proprietary tools and methodologies to deliver Banking BPO and Financial Services Outsourcing services across Retail Banking, Commercial Banking, Investment Banking, Mortgage, and Wealth Management. We add value to our client’s business by improving their customer satisfaction, unlocking cost efficiencies and streamlining processes through continuous improvements and technology optimization.

Our service offerings include

Banking Operations Outsourcing

■ Cheque processing

■ Lock-box processing

■ ACH processing

■ Adjustments and record retrievals

■ New account setup and maintenance

■ Credit card operations

■ SAR and fraud operations

Lending Outsourcing Services

■ Loan origination and processing

■ Loan underwriting

■ Loan closing and funding

■ Post closing and due diligence

■ Loan servicing

Asset Management and Brokerage Outsourcing

■ Account setup and maintenance

■ Broker and advisor support services

■ Customer service

■ Transfer agency-related processing

■ Portfolio administration

■ Investment research

Investment Banking

■ Pitch books, company profiles and financial analysis

■ Financial models, forecasts and updates

■ Research reports preparation and authoring

■ Business intelligence and analysis

Case Studies

Industry: Banking and Financial Services
Process: New account set-up, Account administration, Document management, Client account administration, Insurance recovery, Licensing and field compensation, Broker support

Delivering a robust,scalable and cost effective back office for a leading U.S. brokerage house

Benefits delivered by the WNS team

Flexible pricing model - Since commencement of the partnership, WNS has been billing the client on a Unit Transaction Pricing (UTP) model for a substantial portion of the scope. This allows for greater flexibility for the client as its business volumes fluctuate; for example, volumes can surge by as much as 30-40 percent during the tax period. This requires meticulous planning between both the client and the WNS team to manage fluctuating volumes.
Rapid scaling of operations - WNS scaled the operations rapidly assuming the delivery of 24 processes ranging from low to high complexity within 6 months of engagement commencement
Deep domain expertise - WNS initially created a pool of domain experts to provide advice on the salient features of the client's products. Today, given the power of this capability, the client has transitioned all transactions to WNS.
Right staff certifications - The WNS team obtained FINRA certifications to support certain products
Robust quality management - To ensure continuous improvement, WNS has deployed quality management tools such as Failure Mode Effect Analysis (FMEA) to ensure every step of the process is evaluated for potential failure.
Robust business continuity - WNS cross-trained 30 percent of the project resources as part of a business continuity strategy.

Industry: Banking and Financial Services
Process: New account set up, account administration, licensing and field compensation support, portfolio adjustments, broker / advisor support, service recoveries, special investigations and reimbursements, check processing and document operations, Change of ownership, Estate settlement

Managing the back-office for a range of products for a leading U.S. brokerage and insurance house

Benefits delivered by the WNS team

The WNS process improvement program has yielded dramatic results with regard to quality of delivery and reduction in the cycle time.
- Delivered an accuracy of over 99.95 percent across all processes
- Improved service quality to between 3.5 sigma to 6 sigma
- Improved accuracy performance across all processes reducing the overall defective processing by over 78 percent across all the products.
With effective management of shifts, and substantial re-engineering of workflow, WNS was able to deliver a significant improvement in turnaround time
WNS devised a unique performance incentive plan for its associates which ensured that quality expectations are met at all times while delivering higher revenues. The plan is designed in a manner that payouts happen only if quality targets are met at the individual level. There is also a provision to earn a bonus if the associate achieves higher productivity numbers in comparison to pre-set targets. The additional payout is made on a per case basis and has increased productivity across the board. In addition to the regular payout plan, WNS also provides incentives for tenure based on pre-defined tiers, which has played a major role in talent retention.