Omnichannel Digital Banking and Experience Transformation

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Overview

We at Mindtree understand the complex challenges Banks and Financial institutions face. Mindtree leverages its extensive domain and technical expertise, to deliver solutions for the world’s leading banks and financial institutions. We help banks in leveraging the latest technology to derive insights from historical data and provide 24/7 support for mission critical infrastructure and applications with stringent SLAs.

Choosing the right digital partner is one of the most important decisions facing today’s businesses. Mindtree has quickly become a preferred digital transformation partner for Global 2000 companies. Mindtree was “Born Digital” and continues to bring extraordinary depth across the entire digital value chain. With a strong blend of expertise and execution, Mindtree delivers remarkable customer experiences while driving greater efficiency and modernizing business operations – programs that result in real value for our client’s business and their customers. Digital is in our DNA. With passion for digital and using technology as an enabler, we transform business strategies to seize new and emerging opportunities

Digital Banking platform helps banks and financial services to focus on transforming the banks into a digital platform, which serves as a catalyst for product and channel innovation leveraging all available internal/external capabilities. It enables banks to plug into the digital economy and co-create products and services with new and diverse revenue streams. Digital banking focuses on using digital innovation to provide superb customer experience across all channels physical and digital.

Mindtree has proven expertise in Lending and its loan origination solution is a market-proven, fully integrated platform that transforms the way banks appraise, approve, and track corporate loans. The Solution enables banks to improve operational efficiency and minimize loan decisioning turnaround time; Ensure loan-processing predictability and transparency; Comply with stringent audit and compliance requirements and Empower relationship managers to focus on consultative selling, rather than managing data.

Mindtree engineered its lending solution using advanced business process monitoring (BPM) technology that integrates seamlessly and securely with virtually any existing business or technology infrastructure, including risk scoring engines, loan management systems, and collateral management systems. The result is a convenient centralized platform that integrates and automates the entire corporate loan lifecycle, from sourcing to appraisal to disbursement. Easily accessible to every stakeholder involved in the loan approval process, the Mindtree platform comes with pre-built activities and business rules that can be configured to replicate the business process intrinsic to each bank.

Digital Banking Platforms

  • Banks as a platform - Open API structure, enable Fintech payment providers to host products on banking platform.
  • Connected banking - Personalization framework built by understanding the customer's 'digital body language' and constructing a unified view of customer profiles, preferences, purchase and behavior .
  • Data Analytics platform - Storing, analyzing and leveraging customer insights and leveraging this to help customers make better financial decisions.
  • Omni-channel delivery - Target offerings on a channel most preferred by the customer-based on big data analysis.
  • Blockchain - Distributed ledger technology.
  • Chatbots - Artificial intelligence (AI) and machine learning (ML) based computer programs.
  • Biometric authentication - Enhanced security for mobile banking.
  • Retina and voice recognition - Enhanced security for mobile banking.
  • Internet of things - Sending account related alerts on wearables.
  • Risk and Compliance - Integration of risk management and compliance. Integration and digitization of risk management processes.

Key Features

Digital Banking platform

  • Allows customer segmentation by creating interfaces between legacy corporate banking platform and the next-gen banking platform.
  • Wide range of new functional capabilities including an out of band authentication for high-risk transactions.
  • Holistic approach to integration and in-house development to meet Business needs.
  • Integrated with risk analytics tools by channeling real-time application usage data for ongoing risk monitoring, fraud detection and forensics.

Loan Origination

SOURCING

  • Access detailed customer information
  • View risk exposure for customer, business units, and products
  • Enable in-principle approvals

ASSESSMENT AND APPRAISAL

  • Collate data from multiple sources
  • Capture customer and facility risk ratings
  • Create and review loan proposals
  • Link counter-parties and collateral to proposal

DECISIONING

  • Access customer, proposal and exposure data
  • Define covenants, terms and conditions as traceable rules
  • Drive individual and committee approvals based on Approval Matrix

PRE-DISBURSEMENT

  • Maintain checklist of required tasks and documentation
  • Create central repository to store all scanned and uploaded documents

POST-DISBURSEMENT

  • Create facilities
  • Review before future disbursals at defined points in time
  • Track exposure across accounts
  • Track customer and account performance and take action

Key Benefits

Digital Banking platform

  • Innovate with products and channels: Design and build useful and usable services that fulfill unmet demand.
  • Transform operations: Apply new approaches to software development and delivery, conceptualize existing systems in new ways, and lay the groundwork for more comprehensive core upgrades.
  • Transform bank into a platform: Harness the latest FinTech innovations using “API-first” approach to add capabilities to existing systems; augment CRM with a transformational layer to enable contextual and consistent personalized interactions, effectively exchange its business operations with partners and vendors.

Loan Origination

  • Faster processing of the loan origination cycle right from lead management to closing.
  • Real time monitoring of loan process.
  • Reduced training requirements and costs for bankers, borrowers, agents, etc.
  • Earlier and higher ROI realization by leveraging existing Salesforce platform.
  • Eliminate sources of human error for faster, better-quality evaluation decisions.
  • Establish predictable, repeatable, and auditable processes that support compliance

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