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Banking. Finance & Investment


Banking, Finance & Investment

  • New Business and its challenges

Financial 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.

  • Business Records Retention and Retrieval

    o Voluminous records (especially for banks) are often stored for a long duration of time to comply with regulatory guidelines such as the Companies Act.

    o Records management and retention is paper-based and not advanced.

    o Banks often store massive amounts of information in physical warehouses, which ultimately snowballs into a records retrieval nightmare.

    o Besides backup of system data, banks business continuity plans (BCP) do not fully address the risk of physical vital records loss.

    o 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:

TH’s offers business process outsourcing services to:

  • Securely 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 customers.
  • 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 (BPR).

The 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 PricewaterhouseCoopers.

Benefits to banks:

  • Reduce 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 activities.
  • 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.