Banking & Financial Services Industry Overview
Banks and payment providers face a host of risks and opportunities in today’s ever-changing financial environment. While juggling the demands of digitization, regulatory compliance, seasonal volume spikes, and fraud and breach prevention issues, banking leaders must also address shifting customer preferences, wavering consumer loyalty, and increased pressure to reduce costs while improving the customer experience and growing their business.
That’s a tall order – which is why a number of leading banking institutions and marquee companies rely on Sutherland Global Services as their premier and preferred provider of technology-enabled business transformation services. One of the world’s largest independent business consultancy companies, our banking and financial services practice is driven by deep domain expertise and a commitment to delivering significant business and operational improvements. From banks, credit unions, card companies, and credit reporting agencies to billing and payments organizations and other non-traditional financial service lending organizations, we have a long history of successfully helping clients obtain satisfactory results.
From customer-interfacing solutions and back-office support to fully integrated end-to-end solutions, we support the entire product lifecycle. Our transformational business models are designed to deliver a secure, efficient, and seamless experience that builds and retains customer loyalty. Sutherland’s offerings include:
- Document Management and Verification Services – We provide secure document compiling, archiving, and validation for fast, easy access to support origination and credit review services. Our services also include verification and underwriting as well as recommendations for streamlining processes.
- Support Services – We generate approval and adverse action notifications along with other disclosures, letters, and card plastics’ issue/reissue.
- Activation and Utilization Services – We handle activation follow-up calls, welcome and balance transfer offers, affinity program interactions, and customer surveys to generate usage and revenue.
- Fraud – Our full service fraud prevention program covers front-end monitoring and verification as well as back-end strategy execution. We also assist with fraud case management including lost/stolen customer interactions as well as investigation, dispute resolution, and processing chargebacks. Our team collaborates with yours to define centralized processes and create automated workflows to streamline cases such as security, anti-money laundering, and regulatory filings.
- Customer Education and Billing Inquiries – We interact with your customers to provide product and process education to resolve their billing inquiries and maintain their account with demographic and other transactional updates.
- Issue and Dispute Resolution and Reporting - Our team resolves inquiries across all channels to provide accurate, compliant, and timely resolution. Operational and analytical reporting provides deeper insight to your organization.
- Customer Contact Management – We offer solutions and support for contact management tools, enabling enhanced segmentation and analytics to report and grow your customer relationships.
- Customer Contact Management – We offer solutions and support for contact management tools to enable enhanced segmentation and analytics to report and grow your customer relationships.
- Analytics - Our team designs and develops complex data models for marketing solutions including propensity models, cross-sell models, scorecards, and tailored solutions which, in turn, help our consultants upsell applicable product offerings.
- Inbound/Outbound Interactions – We build and transform your customer base and generate customer loyalty by demonstrating how your organization can assist them achieve their financial goals.
- Sales fulfillment – Our team processes fulfillment requests and assists with application completion.
- Penetration of other product lines, new offers, and packages – Our inbound and outbound customer interactions help deepen customer relationships, build brand loyalty, and generate revenue.
- Business-to-Business (B2B) Lead Generation - Along with our highly skilled, highly trained associates’ interactions with your potential customers, we offer unique solutions for effective lead management.
- Strategic Dialer Management & Analytics – Utilizing customer metrics combined with dialer outcome analytics, our team can further refine and execute dialer strategies to maximize efficiency and improve roll rates and/or liquidation rates.
- Loss Mitigation / Early Intervention / Reminders / Customer Education – We work with you to design customized campaigns to prevent delinquency, educate your customers, and update critical contact information.
- Pre-charge off collections (First Party Collections) – Acting as an extension of your brand, we provide service, customer education, and compliance while achieving or exceeding your collection goals.
- Skip Tracing – With access to the industry’s best 3rd party skip tracing tools and methodologies, we quickly and compliantly obtain information and increase collection/recovery rates.
- Post charge off (Third Party Collections) – Our highly trained and licensed collectors strictly adhere to the FDCPA, TCPA, and CFPB guidance to reduce complaints while increasing recoveries.
- Back –Office & Support Services – Focused on end-to-end solutions throughout the collections lifecycle, we invest in rigorous checks and balances to ensure quality, compliance, and efficiency. We also support bankruptcy/probate management and reconciliation processing.
- Operational Assessments – Our Business Transformational Team conducts assessments to identify opportunities for system and process improvements to yield efficiency gains and improved ROI.
- Customer Account Management & Robotics Process Automation (RPA) – We have expertise in helping financial services organizations meet their cost-cutting and efficiency objectives by consolidating, automating and streamlining customer support processes.
- Industry Best Practices – Our team leverages industry best practices and knowledge of your organization to customize solutions that help you gain efficiency and improve the customer experience.
The Sutherland Advantage
- Improve client customer satisfaction (CSAT) scores thus ensuring improved customer satisfaction and loyalty
- Lower costs to achieve greater efficiency
- Improve revenue through higher sales conversion rates
- Improve effectiveness performance, accuracy and control
- Ensure increased security and comprehensive compliance
- Provide greater operational visibility, productivity and quality measurement
- Transform business operations for a seamless and compelling digital customer experience