With a banking penetration score of about 42.8% in India, urban customers have become more demanding as there is an increased cognizance about the Banking sector. Ironically however, the rural market in India has remained under-explored. At Tata BSS, we have 8 rural centres that have helped us spread our wings and spread more awareness in this segment.
Despite tectonic shifts resulted by frequent economic fluctuations, the Banking, Financial Services and Insurance Industry has managed to remain steady. As the vacillating storm goes on to wreak havoc in the Industry, adopting technology and simply waiting for results is not the best option!
Drivers for Outsourcing
Professionals in the BFSI sphere get sleepless nights due to the complexities in this industry, which often impels them to outsource! Some of the common challenges they face include the following:
- Constant pressures of customer retention
- Risk management
- Product and channel profitability
- Uncertainties due to economic fluctuations
We Exist to Simplify BFSI!
- Proactive Responses
We help our customers adapt to the changing times with our simplified proactive responses, which are often inhibited by the very complexities of a system.
- Better Customer Awareness
As one of the largest rural employers, we have a greater reach in this segment. Having 8 centres in India has helped us penetrate the rural sector and enhance customer awareness at a grass-root level, with an underlying social intent.
- Customer-Focused Institutions
We completely believe in the fact that Customer is the King. Our infallible attention to detail, along with a need for accuracy helps us comply with the increasing regulations and come up with customer-centric Institutions that drive results.
How we drive business value for the BFSI Chain?
Our end-to-end service offering is evident from the wide scope of work we currently provide to the BFSI segment as highlighted below:
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Integrated product offerings for the BFSI Segment
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Application
Processing
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Operations &
Banking
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Collections
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Legal Remedial
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Finance &
Accounting
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Document Collection
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Post Del Doc Collections
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Call Centre
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Issuance Of Notice
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Accounts Payable
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Field Investigation
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Operations
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“O” Bucket Collections
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Tele-Conciliation
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Accounts Receivable
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RCU
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Contract Booking
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“1.4″Bucket Collections
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Arbitration
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General Accounting
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Credit Processing
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PDC Storage
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“5-10″ Bucket Collection
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NPA
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Vendor & Employee Claims
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R O Generation
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PDC Banking
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“11+” Bucket collection
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Disposal
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Sourcing
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Bank Recon
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Stressed Collection
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What Keeps Us Ahead of the Curve?
We work towards accelerating innovation and take the bull right by its horns! Here’s a brief lowdown on our value propositions:
- Grow revenues with Simplified Solutions. As the realization of the complexes hits the Industry, banking businesses tend to get all the more flummoxed. At Tata BSS, we elicit constructive solutions to grow revenues, by taking control of the situation with workable solutions.
- Enhance Experience by Streamlining Processes. We aren’t afraid by the storms, and have always worked towards streamlining processes. We constantly work on improving our risk management mechanism, which helps us maintain asset quality and hence, provide customers with unforgettable experiences.
- Enable Efficiency by looking beyond our own nose. We work towards innovating, and strive to create a value across the entire BFSI chain. This enables us to augment our efficiency while managing costs, and leave an indelible impact on the BFSI Industry.
Success Stories we scripted…
Our association with marquee clients has always been a matter of great pride for us. Here’s a
Insurance Arm Of India’s Leading Bank
- Delivering 95% FTR consistently
- Increase penetration from 6 to 36 cities with average renewal premium of INR 60 Crores
- Selection to joining ratio improved from 20% to 50%
Leading Indian insurance broking & advisory services company
- Only platform-based auto insurance policy issuer with tie-up with 12 insurers PAN-India.
Large Indian vehicle finance company
- End-to-end voice and fulfilment capability across 18 Indian languages from 213 cities.
- Efficiency improvement from 62% to 89%.
