The BFSI Practice of SoftPro provides IT Services and Solutions to
banking and financial institutions worldwide. With a strong leadership
team and a large pool of experienced technology consultants, the
practice provides a wide range of service offerings, enabling our
clients to gain an edge over the competition in the industry. Powered
with the domain expertise of consultants in the areas of Banking and
Financial Services, the Practice offers domain solutions catering to the
current and emerging business needs of the BFSI clients.
There is a huge dependency on the faceless automated online systems
to render consumer banking services - be it vehicle loans, housing
loans, issue of credit cards or issue of debit cards. However, small and
medium size banks may be better placed to serve the consumer banking
segment very efficiently through state-of-the art online banking systems
as well as dedicated workforce that interact with customers by way of
The personal approach strategy enables banks to advise their
customers on various issues relating to banking transactions. Typically
operating under low margins and low overheads, these SMB banks leverage
their channel network very effectively, through eBusiness portal, to
serve their customers better. Though the automated system is the
back-bone of banking operations, operational efficiency within IT
department and overall organizational agility and flexibility are very
crucial factors and key differentiators in a competitive scenario.
Personalized banking at doorstep is the new business concept that is
likely to emerge in the next few decades. It is going to be logistics
driven just like courier services. In this new banking scenario, it is
assumed that online / internet banking, ATM, eCash, and virtual banking
are some of the banking practices that would become core components of
the business. Some of the applications that are expected to be key
business drivers are
- Accounts consolidation especially in smaller banks,
- Reports portal at branch / regional levels
- customer services portal.
SoftPro offers the following solutions for the financial services segment:
- BI - A complete CIO performance management and BI platform,
enabling IT department to measure and enhance their service levels to
internal and external customers.
- EDW - Enterprise Data Warehousing handling huge volume of data for data analysis and retrieval.
- IDM - Identity Management solution covering bank employees, customers and channel partners
- eLearning - Creating canned training kit for staff and managerial development
- Business Process Management - For automating customer facing
flexible processes with quick turnaround time for improving customer
services. Loan application processing,credit appraisal management and
bad debts management are some of the business critical processes that
can be automated using BPM development environment.
- eBusiness Portals - Self-service portals for channel
partners and shopping portal for bank's customers with facility for
payments through credit cards and debit cards.
The services offered by SoftPro for financial services vertical include
- Development of eBusiness portals for customers and channel partners,
- Managing existing applications in terms of application migration,
enhancements, bug-fixing etc.
- Implementing EDW, BI and IDM solutions and
- Providing secure application access through SSL VPN in various modes: client-less mode,
thin client mode (server based computing) and thick-client mode (client-server WAN computing).
By leveraging the proven Extended Enterprise Model of SoftPro, the
BFSI Practice operates large dedicated Offshore Development Centers
(ODCs) for many leading financial institutions