A global banking giant implements FinFlowz for its Middle East operations
Data Transformation
One of the largest global banks was looking for flexibility in their operations and to reduce dependencies on multiple teams. Profinch was onboarded as the strategic partner, to help them through the transformation.
Challenge on Hand
The bank required: Self-service capabilities that allow to scale up or scale down operations as per business demands thereby, reducing dependency on IT support teams | The unified digitization of payments workflows | Mature DevOps processes in place
Project Scope
The scope of the project was finalised as below:
- Digitization of regulatory processes has enabled the system to capture granular data from varied systems and to consolidate, create reports and submit to authorities with zero-manual intervention, making the process error-free, with automated notifications, email reminders
- Standardization and automation of CADU system is enabling the bank curb NPAs, with critical insights being captured through automation of various sub systems
- The unified digitization of payments workflows through a composable architecture has fast-tracked processes and made the payment process transparent across the value chain, while bringing in robust checks and measures in place.
Highlights
- The bank has improved operational efficiencies by over 30%
- The bank’s overall effort was reduced by 40%
- Composable architecture has paved the way for operational efficiencies, driving about 30% cost savings
- Mature DevOps processes have reduced time to market for products and services by an average 20%
Conclusion
Effectively leveraging digitization helped the bank drive business decisions, meet compliance needs and drive overall efficiencies. The client continues to engage with the Profinch team on varied projects.
