The financial world isn’t just about numbers anymore—it’s about how well banks can leverage technology to streamline operations, boost efficiency, and keep customers happy.
As a seller productivity tool for banks, we have had the opportunity to deep dive into the banking industry and build solutions that are helping banks improve customer engagement via seller engagement.
And there are a range of tools in their stack that are helping banks deliver superior customer experience, and helping them scale for the future.
Here’s our pick of tools that we feel are gearing banks for the journey forward.
1. Boosting Revenue via Distribution : Distribution Management Systems
Managing sales teams and distributor networks takes more than spreadsheets.
- Vymo: Vymo is powered by intuitive and intelligent technology that focuses on distributor activities to enhance sales engagement and streamline workflow management. Trusted by giants like HDFC Bank and SBI Life Insurance, it’s a favorite for a reason.
2. Optimizing Operations: Core Banking Solutions
Think of this as the heart of every bank’s operations. These systems handle the essentials—transactions, accounts, and daily operations.
- Finacle(By Infosys): Finacle is highly reliable for supporting multi-currency operations, ensuring seamless international banking transactions. It also offers robust, detailed reporting capabilities that provide valuable insights for informed decision-making.
- Oracle Flexcube: Finacle offers a comprehensive suite of solutions that cover every aspect of banking, from traditional branch banking operations to seamless payment processing.
3. Smart Lending: Loan Origination Systems (LOS):
Speed is key in lending. These systems ensure loan applications move quickly from start to finish.
- Newgen: Newgen automates the entire loan lifecycle, streamlining processes from loan origination and underwriting to disbursement and servicing.
- FinnOne (Nucleus Software): Simplifies loan processing with end-to-end automation and seamless customer engagement.
4. Compliance Made Easy: KYC Automation
Banks need to know their customers. KYC tools make verifying identities and meeting regulations a breeze.
- Trulioo: Trulioo is a global leader in identity verification, providing secure, scalable, and reliable solutions for verifying individuals and businesses worldwide.
- ComplyAdvantage: ComplyAdvantage enhances security by offering advanced transaction screening, enabling organizations to detect and prevent financial crimes.
- iComply: iComply seamlessly integrates identity verification with compliance management, streamlining processes for regulatory adherence.
5. Fighting Fraud: Detection and Prevention Tools
With digital transactions on the rise, spotting fraud in real time is a must.
- SAS Fraud Management : SAS Fraud Management detects and prevents fraud in real time by leveraging advanced data analytics and machine learning. Its robust platform analyzes transactional data at scale, identifying suspicious patterns to protect businesses and customers from financial threats.
- Actimize (NICE): Actimize (NICE) empowers banks to prevent fraud and ensure compliance with ease through its advanced analytics and AI-driven solutions.
6. Simplifying Tasks: Robotic Process Automation (RPA)
Repetitive tasks like data entry and report generation can weigh teams down. That’s where RPA steps in.
- UiPath: UiPath simplifies operations by automating back-office processes with its powerful robotic process automation (RPA) platform.
- Automation Anywhere: Automation Anywhere accelerates tasks such as loan approvals and reconciliation by leveraging intelligent robotic process automation (RPA).
- Blue Prism: Blue Prism provides robust robotic process automation (RPA) tools specifically designed for financial services, enabling organizations to automate complex tasks like compliance checks, transaction processing, and reporting.
7. Digital First: Online Banking Platforms
In today’s world, everything is online—including banking. These platforms make the shift seamless.
- Temenos Transact: Temenos Transact offers a comprehensive suite of online banking services, including core banking, digital banking, payments, and lending.
- Finastra Fusion: Finastra Fusion Banking provides a wide range of customizable solutions to meet the diverse needs of different customer segments.
- Backbase: Backbase focuses on delivering engaging, user-friendly digital banking experiences by providing a unified platform for customer interaction.
8. Staying Compliant: Regulatory Management Tools
Navigating the maze of regulations is tricky, but these tools make it manageable.
- Actico: Actico helps organizations automate decision-making processes while ensuring compliance with regulations.
- LexisNexis Risk Solutions: LexisNexis Risk provides powerful tools for tracking, assessing, and managing risks across various industries.
Banks have their pick of tools, each designed to tackle specific challenges. Whether it’s optimizing seller engagement, faster loan approvals, or safeguarding transactions, these solutions help banks focus on what really matters—serving their customers.
If accelerating your distribution network is on your mind, Vymo could be the ace up your sleeve. Backed by smart tech, it transforms workflows and powers sales engagement like no other.
