Banks can leverage the potential of fintech by identifying opportunities and aligning their overarching business strategy. Fintech consulting services enables the customer to improve their top line while controlling their bottom line.
In the broader banking ecosystem, fintech innovation has brought about a fundamental shift, placing the customer at the core of everything. Fintech is reimagining the entire banking space, with banks moving to digitization and has taken this a step forward making them paperless, presence less and cashless.
SJM banking collaborates with clients to not only address their current needs but also future-proof their digital transformation initiatives. It is aimed at bridging the gap that has arisen due to what the customers want and what the bank has to offer. Throughout this journey, we co-innovate with our customers and fintech partners to deliver cutting edge solutions.
Our rapidly growing fintech partner ecosystem augments our innovation; through incubation of Use Cases in SJM’s Banking Virtual Labs.
They provide niche components for our larger solution construct and aid in faster value realization for the client. Sample partner synergy areas are: Digital Customer Onboarding, Digital Client Management, Digital Lending, Collateral Management, Loan Underwriting, Enterprise Reconciliation, Digital Collection, Fraud Management, Anti Money Laundering, etc.
Our strategy to service our banking clients includes banking partnerships and fintech collaborations; incubating working prototypes in the banking virtual lab
Digital Client onboarding with real-time KYC integration; taking the customer through Product Selection; IDV; Decision Making, Contract Signing & Account Opening in a matter of minutes. Ensuring seamless new customer acquisition, in a new normal world.
RPA based integration, auto-generation of corrective entries, N-way matching; for ATM On-Us Debit/Credit & Acquirer Reconciliations – thereby achieving 94% automation of the end-to-end transaction recon processes. Smart Recon brings higher efficiency & lowers the risk to the reconciliation process.
AI/ML and NLP; for enhanced decision- making accuracy & higher productivity; to reduce the Checker effort on Continuous KYC – thereby reducing the total cost of ownership by 30-40%. AI, not only speeds the KYC and due diligence process, but helps to improve it continuously.