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80% of the data that retail and commercial banks receive is unstructured, requiring substantial amounts of human resources to process it. Additionally, the increasing regulatory demands, competition, profitability pressures, and customer demands can have a significant strain on day-to-day operations.

Business process outsourcing for the Banking Sector

Swiss Post Solutions has vast experience in business process outsourcing (BPO) for the banking sector. Utilizing SPS’ Digital Technologies can result in banking institutions benefiting from a complete end-to-end (E2E) solution that will lead to operational efficiencies, cost reductions, and optimal human resource deployment.

The importance of robotic process automation (RPA) in banking

Adapting a bank's strategy to include automation and advanced digital technologies can ease operational and regulatory pressures while developing new opportunities. The benefits of RPA include:
 

Improving customer service and experience

Great customer experience (CX) experience increases the likelihood of customers renewing or buying new products by 30-50%. One application of RPA is making digital front-end systems run smoothly - resulting in fewer errors that could impact the customer.
 
The main CX benefit from banking automation for customers is the reduction in response times to requests (such as credit card applications). For lengthy processes, automation can improve transparency for customers - by being kept up-to-date with the status and progress of their application customers will be reassured that their requests are being tended to.

Improving process performance and cost reductions

75% of manual processes within the banking sector can potentially be automated. With data processing being at the heart of modern banking it has become a major cost driver.
 
The use of legacy systems combined with human “data workers” becoming slow, costly, and error-prone compared to new digital alternatives will contribute to the majority of data processing costs. Utilizing SPS’ E2E Services allows the human workforce to be optimally used for more strategic tasks and improve customer service while all the tedious and repetitive task are manually automated saving substantials amounts of time, with no errors, as well as reducing processing costs.

Ensuring banking regulatory compliance

RPA can be applied as Regulatory Technology (RegTech) which helps facilitate the delivery of regulatory requirements or be used of auditing and internal policing purposes. Combining RPA with artificial intelligence (AI) can provide banks with deeper analytical insights which can be used to help monitor for potential fraud committed by customers or employees alike.

RPA is agile meaning that any new changes in regulatory or internal requirements can be adapted for swiftly and easily for quality assurance.

Responding to new market entrants

Fintechs are invading the financial service markets with new services and product offerings. These new non-banking institutions are less tied to regulations and compliance guideless and dues to short time-to-market cycles and low governance costs can function effectively at lower margins.
 
While traditional banks will not be able to compete to the same extent due to regulatory pressures and compliance, trust and customer experience have become a major factor for customer retention and growth. Traditional banks will have to rely on their intrinsic values, such as security, discretion, and customer orientation to maintain a competitive advantage which is where digital transformation comes into play.
 
Interested to learn more?
 

Banking services that SPS offer

With over 20 years of experience in delivering services that improve the performance of business processes and efficiencies; we support over 60 banks worldwide with ISO-certified quality and security solutions - which include:
 

Customer On-boarding

The validation of account opening forms and legal/compliance requirements, video identification services, and the capture and verification of customer details within core banking systems.

Master Data Maintenance

Capture and verification of all customer, account, market or security data (e.g. address changes, tax-relevant customer data, power of attorney requests).

Payments Processing

The data scanning and extraction from physical documents, exception & reject handling of transactions, validation of processing and compliance tasks, and authorization of processing in back-office systems, in compliance with local regulations (i.e. BaFin, FINMA, etc.).

Securities Processing

The validation of investment funds orders, capturing and verification of relevant information for back-office systems and the authorization of order settlement with counterpart and booking.

Credit Processing

End-to-end processing of credit and credit card applications, including the automated data capture of forms, within a PCI-DSS compliant environment, automated data validation against business rules, and online credit check for applicant data.
 
RPA can accelerate process timings as data can be extrapolated from multiple systems simultaneously. Based on predefined rules, our systems can validate the required information and approve/reject applications.

Customer Care Management

Processing and automated classification of unstructured and structured information, with artificial intelligence (AI) applied to incoming customer communication across physical and digital channels (such as email, social media, website, SMS, etc.).

Finance and Administration

Through automated accounts payable (AP) and accounts receivable (AR) solutions, that turn the time-consuming, manual tasks of accounting into intelligent, automated processes, with real-time information.

Human Resources

Improve employee communication and experience through the electronic delivery of salary statements (ePayslip), travel expense management and reporting, assignment of services, etc.

Digital Mailroom Services

For the management of a physical and digital mailroom, through on- and off-site service delivery models.

Output Management Services

Document output services to deliver business documents and communications to your customers according to their preferences, including transactional print and e-delivery.
 
To find out more about what we have already achieved together with our clients
 

RPA Tools for banking and finance

Robotic Process Automation (RPA)

RPA is ideal for data-driven applications such as those in the banking industry because it can manage high-volume, repetitive tasks with accuracy.

Artificial Intelligence (AI)

AI complements RPA perfectly as analyzing quality data allows for RPA algorithms to be more efficiently configured. Resulting in data being processed faster and more accurately than a human could.

Natural Language Processing (NLP)

NLP is the technology used to understand the nuances of human language. The main objective of NLP is to read, decipher, and extrapolate the meaning from communications such as email.

Optical Character Recognition (OCR) and Intelligent Character Recognition (ICR)

OCR and ICR enable intelligent data processing, including data entry and handwriting recognition. They are effective tools for customer service, business acquisition, cost reductions, and forecasting for the finance industry.

Digital Transformation for banks

SPS has vast experience in BPO for banks, the partnerships we have built with our banking clients has led them to:
  • Identify and optimise business processes
  • Reduce processing costs
  • Define and deploy their digital transformation journey
  • Improve customer experience and customer service
  • Reduce risks by standardizing processes
  • Improve business agility and quality control
 
We provide banking automation services to 35% of the world’s largest banks by helping manage small tasks such as automated address changes, automation of credit card settlements, back-office system integrations, and email classification with automated responses for customer care all the way through to planning and executing a full digital transformation. All our systems integrate with a bank’s legacy technology. This allows our clients to be fully agile and fulfil all their needs in short time periods, with minimal changes to their existing systems.
 
To find out how your business could benefit from RPA
 

  • Case Study

    Investment company – end-to-end backoffice processes

    Discover why one of the biggest German investment companies uses our qualified preparation of client files.

    Read Case Study about Investment company – end-to-end backoffice processes Read Case Study

Customer testimonials

  • testimonials

    Consequent outsourcing and broad cooperation with Swiss Post Solutions have led to significant improvement of our cost-income-rate over the last years.

    COO, European Bank

  • testimonials

    Through the cooperation with Swiss Post Solutions we have been able to increase our competitiveness. We are “fit for the future” and can focus on the professional delivery of services in our core business thanks to the new and lean production processes.

    Head of Risk & Document Management, Financial Services

  • testimonials

    We had a clear need to update our approach to storing and accessing correspondence and an aim to make processes quicker to deliver an enhanced service to our customers.

    Payments Lead Operations Manager & BACB Business Partner, The Co-operative Bank

See all case studies

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