The client is one of the largest banks in the UK and provides commercial financing solutions to businesses including factoring, invoice discounting, asset-based lending, asset financing and more. As a market leader in the commercial finance segment, the client has a 16% market share that translates to ￡3.7 billion.
The client faced challenges of legacy systems that impacted customer experience and resulted in a high cost of service and exceptions management within their invoice factoring and discounting function. Post deliberations with several market players they reached out to Firstsource for a solution.
Firstsource implemented FirstSmartomation – a solution that aims at helping organisations integrate multiple systems, create new interfaces with automation and reduce complex processes. It leverages domain expertise, operational excellence knowledge and RPA (robotic process automation). Some important aspects of the solution included:
Cost-to-serve benefits led to substantial improvement across quality of service, data accuracy, customer experience and speed to execute.
Firstsource is a leading provider of customised Business Process Management (BPM) services. We specialise in helping clients stay ahead of the curve through transformational solutions in order to reimagine business processes and deliver increased efficiency, deeper insights and superior outcomes.
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