Leading disruption with mobile-first transactional banking fit for the digital future

BSG supported the transactional banking arm of an insurance provider to accelerate their journey to becoming an industry disruptor. Combining regulatory requirements with innovative solutions that improve customer experience, BSG guided several initiatives that support in the development of a new product: a fully functional digital bank account.

 

  • Develop existing products to a point where they could have a fully functional savings-led digital bank account
  • Establish cohesive processes for the generation of SARS compliant tax certificates and statements
  • Define the best solution for storing, retrieving and distributing compliant statements to customers
  • Optimisation of customer onboarding processes by developing a compliant electronic solution for FICA, aligned to a mobile-first approach strategy
  • Define the business rules and requirements for account closure processes, based on the various scenarios that may arise during a customer’s journey
  • Fulfil an advisory role by providing cost-effective, customer-centric solutions and priorities for future innovation, while ensuring compliance with financial and regulatory institutions
  • Automate processes, ensure operational efficiency and seamless integration with internal and external parties
  • Understand the requirements of the digital bank account platform across architecture, technology and business, to create a seamless customer experience
  • Position the business to make confident external vendor selections by supporting with fact-based vendor selection processes
  • Positioned the client to expand market share, refining their transactional banking offering
  • Improved friction-less customer onboarding with an electronic FICA solution
  • Increased automation and reduced duplication of compliance processes, reducing the need for time- and resource-intensive tasks and face-to-face interventions
  • Optimal balance of regulatory standards and customer experience realised
  • Delivered value in 10 weeks
  • Supported to allow the client to select external vendors that could best support into the future
Advising on ways to enhance existing products and grow market share with new offerings, culminating in a cost-effective, compliant, digital bank account geared for mobile use

Do you need to balance customer experience and compliance risk?

BSG has the knowledge and experience to support your business to achieve it’s long-term strategic goals, incorporating data, customer experience and compliance.

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