Banking, Finance & Investment
Business and its challenges
institutions have to cope with large volumes of
applications and transactions on a daily basis
especially when they operate within the retail
environment. Backrooms of these institutions often
have to deal with surges and troughs in volumes
whilst at the same time deliver consistent quality
and service levels to meet both the enterprise
and customer expectations.
Records Retention and Retrieval
Voluminous records (especially for banks)
are often stored for a long duration of
time to comply with regulatory guidelines
such as the Companies Act.
Records management and retention is paper-based
and not advanced.
Banks often store massive amounts of information
in physical warehouses, which ultimately
snowballs into a records retrieval nightmare.
Besides backup of system data, banks business
continuity plans (BCP) do not fully address
the risk of physical vital records loss.
Changing customer expectations, competition,
geo-political, audit and legislative landscape
has made many of these institutions review
existing records management strategies.
Trusted Hub's Outsourcing offerings:
offers business process outsourcing services to:
process customer and bank data in both digital
and physical formats.
Perform classification, data verification and
coding on application and account documents.
Call center services to follow-up with bank
Perform Evidence Act-certified data conversion,
data capture and subsequently broadcast information
to bank staff for high-value-added processing.
Perform document classification and reconciliation.
Provide secure data hosting service with e-records
life-cycle management offerings.
Offer consultancy in business process re-engineering
above services are carried out in compliance with
regulatory standards. To ensure continued customer
data confidentiality and security, Trusted Hub
undergoes regular stringent audits conducted by
Benefits to banks:
new application turnaround times (reducing cycle
times down to T+1 or T+2 days).
Reduce costs by outsourcing non-core activities
that consume heavy resources.
Enable the enterprise to free up its resources
to focus on higher value-added core banking
The outsourcing service creates court admissible
images and digital data to meet the bank’s
business continuity objectives.
Reduce search, retrieval and record retention
costs throughout the record retention period.