We get much more attention from Datamatics Team as a third party service provider. Our other vendors are not as supportive and focused.
Banking & Financial Services
Overview
Globally, banks face many opportunities and challenges. Growing regulatory compliances, increasing levels of business risk, disruption of traditional business models enabled by technology, and rising customer expectations pose formidable threats to entrenched banks.
Today, banking as an industry is witnessing major transformations in the form of blockchain technology, the Open Banking directive in the UK, the growing popularity of robo-advisors, the increasing adoption of voice assistants, backend processes powered by Artificial Intelligence, and biometric-enabled security.
Banks that are nimble and adaptive can capitalise on the significant opportunities that the transformation has to offer – a growing global market, new digital products and services, access to greater amounts of data and the ability to mine actionable insights from them.
Datamatics partners with banks in both international and domestic markets to offer a wide portfolio of products and services and help them stay competitive through Automation and Digitization.
Our Offerings:
- Increasing productivity, accuracy and speed through Robotic Process Automation (RPA)
- Enhancing customer experience by seamlessly integrating front-end processes such as account opening with back-end transactional processes such as loans, deposit management and payment engines
- Operational efficiencies through workflow and document management solutions
- Risk mitigation through intelligent compliance and risk management solutions
- Improved decision making through intelligent data processing and analytics
- Improve user experience with chatbots and voice assistants
Our Services
Loan Management
Sound judgment and speed are critical to the tedious loan origination process. Automation and consolidation of lending process can boost efficiency and reduce transaction cost. Datamatics’ loan processing solutions can help you make faster and informed decisions, while improving customer engagement and generating revenue.
Our flexible and adaptable loan management solutions provide integrated document management, workflow analytics and mobility solutions. Designed to complement your existing applications, these can be seamlessly integrated with your core applications.
Benefits
- Reduce cycle time for loan processing from a few days to few hours
- Enable faster search and retrieval of loan files for decision making while ensuring regulatory compliance
- Instantly access documents to expedite loan decisions
- Use workflow to facilitate faster information sharing
- Reduce operational costs up to 40%
Account Origination & KYC Processing
Like any other data centric process, Account Origination and KYC Form Processing run the risks of manual errors and are often time consuming in nature. Datamatics’ Account origination and KYC Processing services use smart tools to automate the paper-intensive process, thereby saving both on cost and time.
Powered by a proprietary suite of next-generation technology solutions for document capture, archival, retrieval and output management, Datamatics manages the entire gamut of KYC processing for large banks and financial institutions.
Benefits
- Enhance financial oversight enabling reduction in operational risk
- Improve turn-around-times for more efficient KYC process management and faster compliance
- Over 50% reduction in KYC form processing costs
- Over 99.99% accuracy of processed forms
- Up to 80% increase in productivity
Cheque Processing & Clearing
Competitive market demands faster check clearing systems for instant money transfer reflections in customer accounts. Datamatics’ smart automation solution allows for seamless collaboration, communication and data sharing features for check payment processes. The solution facilitates effective data capture required for clearing or pulling of Post Dated Check (PDC), reconciliation and validation of various details, including dates, EMI, etc. Datamatics’ robust and scalable check clearing solution uses proprietary tools for digital transformation with minimal manual intervention. The solution extracts data from images, validates and thereby enables the exchange of images and data of cheques between the participant banks, resulting in increased efficiency and speed of cheque/instrument clearing. The application supports multiple clearing sessions, high value clearing, and speed clearing.
Benefits
- Reduce cycle time with increased automation from 8 days to 2 days
- Significant reduction in customers’ operational cost from 20% to 50%
- Improve data quality up to 99.5%
- Significant reduction in turn-around-time (TAT) by 25-50%
Customer Engagement – Mobility
Disruptive technologies have changed the very existence of traditional banking. The customer behavior is changing at a rapid pace due to the revolutions in technology, especially in the mobility and the social media space.
The modern customer needs engagement at every level, and enterprises that ensure a multi-channel engagement have higher success in retaining their Customers. With millions of smart phones and tablets in existence, banks today need to have customized interactive apps for continuous engagement. Datamatics has an extensive banking mobility practice that helps customers attain a unified and personalized banking experience. Our user centric apps ensure easy adoption, high efficiency, and high levels of customer delight.
Articles
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We are very pleased with the quality of service the Datamatics team continually provides. Datamatics has consistently made extra efforts to assist us with the sometimes difficult requirements and helping us to complete our projects on time.
We have built a partnership with the SharePoint technical team of Datamatics over last three years. Having a dedicated SharePoint team from Datamatics, that truly understands our environment, our project plans. Datamatics delivery capabilities have enabled the Jet Intranet portal to be accessible 24X7.
We value Datamatics’ creative thinking, responsiveness and deep understanding of technology. This has helped our Application development initiatives with data visualization for customer insights.Datamatics collaborates with us in several areas including ideation and provides recommendations on application development, ways to streamline our business, creation of new tools for our research applications, as well as on programming and data production services in support of our day-to-day business. Datamatics has been a reliable, go-to partner delivering with quality for several years. We look forward to growing our relationship in the future.
Datamatics has provided us the best Business Analytics product – nSights. It has empowered us to stay on top of our business intelligence requirements. The seamless implementation and upgradations done by the teams from time-to-time, while least affecting our business-as-usual have held us in awe of the support and development teams.
We have been working with the Datamatics team for many years and want to sincerely appreciate the team for their quick response to the issue resolution and efficient services.
Looking forward to continuing to work with the Datamatics team in the years ahead.
Results
Processing of Know Your Customer (KYC) Forms for a leading Bank
A large global bank was facing challenges in processing the KYC Forms for its ever increasing customer base. They needed faster processing, allowing for volumes spikes while maintaining a very high accuracy level and end customer satisfaction.
Datamatics designed an inclusive solution consisting of redesigning the KYC forms, Data Processing and validation with its in-built platforms. It came with a comprehensive end-to-end solution in a workflow resulting in a reduction in the cycle time from 8 days to 2 days, 95% to 99.5% quality and increased efficiency.
Datamatics has streamline New Product launch Process
A leading funding house required a DMS solution for centralized storage and retrieval of data. They also required automated workflow solutions for their product development approval process & creation of secretarial meetings. They were facing challenges arising out of manual data processing and a lack of seamless flow of data across departments.
Datamatics implemented a customized DMS solution which introduced higher levels of automation through a proprietary suite of smart tools. The solution resulted in increased productivity, higher security & greater operational performance.
Implementation of Document Management Solution for Largest Depository in India
For a leading Depository in India, we built a customized Content Management System to reduce the manual processing of documents and efficiency in availability of data. This resulted in benefits like easy scanning, uploading and retrieval of the documents and reduced the operational cost.
Improving Business Process Efficiency and System Integration for one of the largest financial Retailers in US
A client had several disintegrated Lines of Business (LOBs) lading to several document repositories. The challenge was to manage multiple applications managing these documents across different LOBs which often led to higher error rates and lack of visibility.
Datamatics leveraged its capabilities in Enterprise Content Management to address the issue and re-engineered the entire document management process. The solution provided a centralized repository for all documents, an improved search/retrieval facility, enhanced security of documents along with improved usability and scalability and reduced operational cost.
