It is a fact that consumers trust their banks far more than they trust any other financial institution – brokerages, investment advisors, asset mgmt. companies and insurance companies. Unsurprisingly, Customer trust follows their Money. In Asia, Bancassurance is the fastest growing channel and in the last 12 months, 56% of all new policies sold were through the Bancassurance channel.
The Bancassurance head of one of the large insurance companies in Asia acknowledged that their Bancassurance business now generates more business than the entire Agency channel and last year their Banca channel sold more policies than the Agency channel has done in the last 7 years! While this is staggering performance, this is not isolated and we are seeing this theme consistently across Asia & the Middle East.
How does the partnership benefit customers?
For the last 20 years, Infosys Finacle has helped banks automate processes, expand customer service to new channels & enable universal banking.
In a mobile-first world, it is imperative to expand business processes & enable field agents to do more. In Bancassurance field agents are increasingly on-the-move, making it imperative to not just manage their product awareness but their day plan.
As part of this partnership Vymo will assist Finacle users by managing their leads, activities & individual performance. As a personal assistant to the Sales team, Vymo enables all this on a mobile device, which providing location intelligence & coaching insights to Sales managers. Vymo, combined with Finacle, enables collaborative selling between bank relationship managers & field agents, via seamless in-app workflows. This results in reduced turnaround times for customer requests with the right wealth management & insurance planning advice.
Solution overview
- Mobile-first experience auto-updates Lead, Activity status without manual data entry
- End-to-end processing of all insurance transactions
- Comprehensive commission processing and reconciliation capability
- Auto allocation of leads & activities to field agents
- Predict & Detect field agent action that turn into coaching insights for sales managers
About Infosys Finacle
Finacle is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. The solution helps financial institutions develop deeper connections with stakeholders, power continuous innovation, and accelerate growth in the digital world. Today, Finacle is the choice of banks across 94 countries, and serves over 848 million consumers – estimated to be nearly 16.5 percent of the world’s adult banked population.
Finacle solutions address core banking, online banking, mobile banking, CRM, payments, treasury, origination, liquidity management, Islamic banking, wealth management, and analytics needs of financial institutions worldwide. Assessment of the top 1000 banks in the world reveals that institutions powered by Finacle enjoy 50 percent higher returns on assets, 30 percent higher returns on capital, and 8.1 percent points lesser costs to income than others.
To know more, visit www.finacle.com
About Vymo
Vymo is a personal assistant app for enterprise sales & service teams. Vymo predicts what an agent / manager should do next, detects whether an activity has happened and links this to downstream metrics to drive better predictions. Vymo has helped some of the world’s largest enterprise field teams deliver 2X productivity uplift; resulting in 30-50% higher sales within 3 months of launch.
To know more, visit www.http://vymo.com//
