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BPM Working in Financial Services
BPM Working in Financial Services
Your Challenges
Complex business issues are facing the financial services industry today. You must continuously and rapidly fine-tune your operations to respond to changing business conditions, whether your business is securities, insurance or banking. Improving customer service, regulatory compliance and the on-going industry consolidation all make it seem as if complexity is growing at an overwhelming pace, especially as staff spend untold amounts of time and money trying to manage information, create unified processes, and obtain approvals for the fundamentals of their job.
To meet these challenges, many organizations have deployed enterprise applications with mixed results. Why? Leveraging applications for business improvement and competitive advantage must involve looking at how these systems are used, how they interact with and streamline the unique business processes that only your company owns.
Your business processes are what link enterprise systems together for true connectivity. Processes must be designed to enhance productivity and competitiveness in a way that works within your environment. That means adjusting and redefining such processes as how employees interact within each functional area, across geographic boundaries, and, most importantly, with partners and customers. Other process-centric demands include:
- Complying with regulations such as the Sarbanes-Oxley Act and meeting goals such as T+1 processing
- Improving customer service levels by providing a single point of contact
- Accelerating new customer acquisition
- Improving Straight through processing (STP) for operational efficiency
- Integrating new processes with legacy systems
- Automating manual operations to reduce errors and guarantee process consistency
- Improving exception resolution to minimize bottlenecks and inefficiencies
- Gaining insight into the lowest level of business operations for greater risk management.
Our Solutions
Metastorm understands the unique needs of the financial services industry and how they can better succeed with efficient process execution. Metastorm’s proven, enterprise-level BPM platform is the foundation that enables companies to design and deploy processes that increase output and manage resources in an unprecedented manner. Metastorm’s BPM technology and proven expertise is helping financial services organizations around the world achieve regulatory compliance, reduce risks, retain and acquire customers, tie together silo processes and systems, and do more with less.
The Metastorm BPM suite provides an open, standards-based framework by which designers and implementers can easily integrate external applications or application components. With easy-to-use tools for modeling, designing, managing, and changing processes, users own, maintain and optimize their processes. And, the platform provides all the components needed to support a continuous process improvement cycle using BPM. Finally, the Metastorm approach offers rapid design and deployment with complete control over continuous improvements based on insight into how the business is running.
Financial services organizations can gain competitive advantage by more efficiently managing business processes, including:
- Insurance claims management
- Quality assuranceLoan application management
- Membership/enrollment tracking
- Referral management
- Client matter intake
- Client conflict processing
- Case management
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- Corporate actions
- Agent automation
- Loan origination
- Sarbanes-Oxley and USA Patriot Act compliance
- Credit issuance
- Credit processing
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Process Accelerators
“Time is money…” as the adage goes – and almost nowhere is it more true than in the financial industry. Financial organizations need up-to-the-second access to accurate data in order to make informed business decisions. At Metastorm, we understand the unique and demanding needs of our financial clients. We’ve helped our clients implement the systems to send their data to anyone, at anytime, in various formats, without immediate revision of their existing applications. Our software solutions help clients ensure compatibility with customers regardless of their application, hardware or network operating environment. The power and flexibility of our integration solutions helps our clients build a truly dynamic enterprise.
Proven Results
Increased Revenue
New and improved business processes contribute to company growth. A strong, reliable BPM platform changes how your company manages existing accounts, acquires new customers, interacts with partners, delivers new products, complies with regulations, and communicates with external parties. Employees spend less time on manual tasks and focus on innovative, value-producing activities. Customer response activities are automated and timely, and new client research and management is streamlined and integrated with core systems. More to the point, you run your business more efficiently and produce faster results.
Decreased Expenses
Financial services companies have always found new ways to do more with less, and BPM is how they’re reaching that goal today. BPM improves productivity with less people—and that’s the bottom line! With new and improved processes, your people work smarter and better.
Metastorm BPM delivers a host of benefits that drive down expenses, such as:
- Automating paper-intensive, error-prone tasks
- Enabling more intelligent and faster exception resolution
- Promoting better staff collaboration with process consistency
- Providing real-time insight into inefficient stages of daily business operations.
Metastorm BPM helps companies quickly exploit processes to run their business better, and then gives them the agility they need to respond to changing conditions, new regulations, and higher demands for service. It is not just about doing more with less, but rather doing more by working smarter.
Successful Implementations
Metastorm BPM enables companies to cut costs and grow their business—just ask these customers:
Alexander Forbes
Bachmann Group
Barclays Capital
Barclays Bank Delaware
Bendigo Bank
CIT Group
COIN Financial Systems
Cooper Gay
Davis Bancorp
Firemans Fund
Gartmore Investments
GK Bank
Graubundner Kantonalbank
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Healthpens
Lloyds of London
MacIntyre & Co.
MetLife
Nuveen Investments
Parex Bank
Postbank
Raiffeisen Bank RTUBS/Perot Systems
SA Home Loans
Scandia Bank
Sumitomo Mitsui Banking Corporation
Wilmington Trust
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Financial Services
