Technology and customer behavior have changed dramatically in recent years. Digital banks and FinTech companies are growing rapidly and expanding into markets where they compete with commercial banks. The commercial banks still have an advantage in terms of experience and expertise, but digital competition reduces this advantage. To remain successful, commercial banks must increase their efforts to continuously improve the customer experience and develop new products and services. It is of high strategic importance for any commercial bank to focus on its core competencies and expertise and to work with an experienced service provider that supports them in their efforts to outperform the customer experience and the efficiency level of their digital competitors.
Common challenges of Commercial Banks
- High management effort and cost. in implementing non-core business functions (e.g. call center, back-office data processing).
- Inefficient comprehensive transaction quality assurance, even with an automated system.
- Excessive Operational overhead to meet high standards of compliance and accountability to the regulatory authorities.
- Slow product and service development resulting in poor customer experience.
How Payreto Supports Commercial Banks
We deliver custom solutions for the banking industry. We care about all stages of your operations and understand your needs to get the best results. Take advantage of our modular services and get only what you need!
Respond to any customer in any country or time zone of your choice with 24/7 availability.
Manage your customer application processes from data-handling (data capture from documents, error-checks, validation, and indexing), up to underwriting workflows.
KNOW-YOUR-CUSTOMER (KYC) PROCESSES
Gather and validate information about your customers in a manner that meets the financial industry’s data security standards.
Manage the expectations and deliver high-touch service to your merchant or consumer accounts.
Accounts Payables, Accounts Receivables, Reconciliation, Reports and Statement Generation
RISK MANAGEMENT AND AML COMPLIANCE
Conduct fraud risk review, AML monitoring, account verification, regulatory reporting, and other due diligence processes to ensure compliance with industry and government regulations.
We are here to help
By utilizing Payreto’s competence, you can establish a more flexible operations team because you can now focus on strategically relevant tasks. We can help you reduce your internal organizational headache on the HR, operations, training level, etc. by taking over your additional workload.
With Payreto, you can achieve a reasonable cost to performance ratio at full cost calculation and ideally improved service quality because we have a level of service focus in-house staff usually does not match. You can also take advantage of our Finance as a Service for your finance department.