Banking,
Financial Services
& Insurance

The Banking, Financial Services, and Insurance industry is riding a giant wave of entrepreneurial disruption and digital innovation. OTSI offers the proper domain knowledge, technical expertise, and relevant experience to transform traditional banking and financial institutes into agile fintech companies.

As financial companies are caught between increasingly strict and costly regulations, they still must compete through continuous innovation. Improving technological advancement is making that possible and challenging the industry status quo powered by innovation and investment.

OTSI offers the proper domain knowledge, technical expertise, and relevant experience to transform traditional banking and financial institutes into agile fintech companies.

Through our experience from partnering with some of the world’s leading banks and financial institutions, we are able to deliver a comprehensive range of services and solutions.

Retail Banking

Banks today are undergoing tremendous amount of change with the advent and evolution of digital technology and ever changing customer expectations. The traditional landscape is poised to change and is redefining the way banking is done. From deploying robotics and artificial intelligence in streamlining work processes to meeting the evolving customer needs this industry is ripe with opportunities. Stiff competition is forcing banks to make quicker decisions on loan applications during underwriting and due diligence stages.

Existing Challenges

  • Increased competition amongst the retail bankers for the same customers.
  • Acting fast and making quicker decisions
  • Single view of the customer across channels and products
  • Strong status quo and legacy systems

Our Solutions

  • Effective data management and usage to analyse customer experience/needs and to look for opportunities
  • Reduction in loan origination, processing and loan administration and servicing cycle time by effectively integrating and modernizing various platforms
  • Real time, on-demand data integration and availability to obtain customer insights and to drive decisions faster
  • Developing new products and services by adopting emerging trends in innovation

Financial Institutions

Financial Institutions are increasingly getting comfortable in acting many ways like fintechs. More and more banks are investing in digitizing processes, leveraging and making decisions based on data and analytics focusing on the customers, extending beyond web and mobile devices, doing so at agile speeds by adopting a new delivery model. As banks strive to become fully digital – modernization, channel innovation, and process automation are taking central place. At the same time, they are also extending their financial services by allowing third parties to build and use banks data to provide additional offering.

Existing Challenges

  • Conversational Banking to become more prominent
  • Open banking/Invisible banking
  • Mobile app/Mobile Payment/Mobile Banking

Our Solutions

  • Use advanced AI (Artificial Intelligence) and ML (Machine Learning) to engage customers at intelligent level
  • Integration of bank’s products, services and operations to remove any friction throughout the customer journey

Commercial Banking

Commercial banks provides financing for a wide range of consumers and business activities. Major commercial banks, in addition to their lending services, also offer cash management services such as money transfers and account reconcilement, asset-based financing, and equipment leasing. They also issue letters of credit supporting global trade.

Existing Challenges

  • Faster Commercial Payments – Real time or same day payments are growing needs and expectations from commercial clients
  • Automation and digitization – moving away from manual, paper-based processes is a significant focus

Our Solutions

  • Development of new payment ecosystems
  • Effective Cash Management Solutions for the movement and management of money

Insurance

Insurers increasing access to customer data, analytical tools and marketing technology is enabling outreach to customers and clear line of sight into what resonates with them. Carriers are increasingly able to quantify the pain points that cause a customer to leave –  true moment of truth – and use this data to improve the customer experience.

Existing Challenges

  • Getting value from digital journey and leveraging innovation
  • How to improve customer experience
  • Compete with Industry Disruptors and Modern technology

Our Solutions

  • Make digital transformation a continuous journey
  • Use data analytics to quantify the pain points and for improving the customer experience
  • Take advantage of options that can integrate modern technology into their legacy systems
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