Banking BPO & Financial BPO (Business Process Outsourcing) Services

We provide a competitive advantage through our expertise in finance and accounting BPO services.

As a trusted provider of BPO services for banks and financial institutions, OracleCMS offers tailored outsourcing solutions to help clients reduce costs, maintain a consistent customer experience, and deliver increased value to stakeholders. Our flexible contact centre, back-office, and automation solutions adhere to stringent security standards for protecting customer data. Within our Centre of Excellence (CoE) in Accounting & Finance, industry experts lead the way, ensuring a valuable engagement for clients. This encompasses everything from sourcing the most qualified talent to streamlining processes through automation.

The financial services sector in Australia is highly competitive, making it essential to partner with a specialised contact centre outsourcing provider like OracleCMS, focused on strategy and compliance.

Advantages of Outsourcing for Financial Services Companies

Security & Compliance

The safety of customer data is paramount for any organisation. Issues like identity theft and credit card fraud can have significant financial implications, costing the financial services sector a substantial amount. Strengthening your bank customer support services with the highest international security standards has become more critical than ever. At OracleCMS, we prioritize information security by adhering to strict compliance protocols, including global PCI-DSS certification and SOC 1&2 attestations, to ensure the protection of your customers’ data.

Capability & Performance

In response to evolving industry requirements and changing consumer needs, financial services companies need the ability to rapidly scale their operations to support business growth with agility and excellence. OracleCMS brings a wealth of experience in successfully deploying high-performing outsourced teams for ASX-listed financial services organisations. This can be achieved through traditional site-based operations or a Work from Home (WFH) setup.

Technology & Innovation

This year, the Australian financial services industry is projected to invest significantly in technology, reflecting a 5.2% increase from 2019, amounting to $18.5 billion. OracleCMS’s specialist automation and intelligence teams can revolutionize bank back-office solutions using Robotic Process Automation (RPA), streamlining repetitive financial processes. We also offer top-notch technology solutions, including feature-rich contact centre software, enterprise-grade telephony systems, and a network with 99.999% availability to ensure clear ‘local call’ quality and uninterrupted service.

Finance and Accounting BPO Offerings

Within our suite of outsourcing solutions, we provide a comprehensive range of services, including but not limited to:

• Streamlining Application Processing
• Efficiently Managing Clearance and Settlement
• Effective Collections Services
• Expert Credit Approval Solutions
• Precise Credit Evaluation and Verification
• Skillful Default Management
• Meticulous Document Management
• Seamlessly Executing Document Processing
• Vigilant Fraud Mitigation and Detection
• Timely Loan Disbursement Services
• Thorough Loan Processing Support
• Reliable Payment Processing
• In-Depth Portfolio Analytics
• Seamless Product Renewals
• Reliable Records Management
• Precise Recoveries Processing
• Dedicated Regulatory and Program Compliance
• Swift Remittance Handling
• Proactive Risk Management
• Efficient Transaction Processing

Why Choose OracleCMS?

Expertise in the Industry

Our performance is driven by a talented team, backed by a global management team with in-depth knowledge of the Australian banking and financial services sector.

Leadership in Practice Management

OracleCMS houses a dedicated Centre of Excellence, overseen by Certified Public Accountants (CPAs) who cultivate a dynamic pool of finance-savvy professionals, providing a genuine competitive advantage.

Security & Compliance Assurance

We hold global PCI certification and adhere to stringent standards and best practices, including SOC 1&2, COPC, Australian Privacy Laws, the Australian Financial Services Regulatory Framework, and ISO/IEC 27001:2013, ensuring the utmost in security and compliance.

Seamless Client Experience

Experience a smooth transition with our risk-free approach, guided by hands-on dedication and a cultural alignment, facilitated by local Client Relationship Managers (CRMs) and PRINCE2-certified Project Managers.

Exceptional Network Reliability

With 99.999% network availability, OracleCMS boasts redundant infrastructure, onshore data storage in highly secure and stable locations, and a purpose-built design for real-time traffic applications, voice, and video.

Specialized AI Support

Enhance customer experiences, boost efficiencies, mitigate risks, and reduce costs through OracleCMS’s specialized AI support, automating repetitive finance and accounting tasks.

Boosting Growth with Tailored Communication Solutions for Banking & Financial Services

Just as we’ve engaged with finance professionals to identify effective solutions, we also understand that the banking and financial services sector faces its own distinct set of challenges.

Do you offer 24/7 customer support services?

In the banking and financial services industry, accessibility and constant availability are crucial. When clients’ financial interests are on the line, having a 24/7 support system in place is vital to address their needs promptly.

How do you ensure a personalised customer experience while assisting clients?

In financial matters and emergencies, clients often seek a reassuring and supportive voice on the other end of the line. Steering clients towards automated systems, especially during critical financial situations, can leave them feeling less comfortable with you as their financial service provider.

Do you frequently deal with a high volume of clients in person or through direct inquiries?

Direct access to financial professionals has been proven to effectively reduce unnecessary in-person or phone inquiries. This approach not only diminishes wait times but also delivers swift responses to those with financial concerns that don’t necessarily require in-person visits.

How do you manage your work-life balance, given the demanding nature of your profession?

In an industry where you handle clients’ financial well-being, it’s common to neglect your own work-life balance. Finding ways to disengage from work when necessary while remaining easily reachable when clients require assistance is essential

Frequently Asked Questions (FAQs) – Banking & Financial Services BPO in Australia

What is Banking & Financial Services BPO, and how does it apply to Australia?

Banking & Financial Services Business Process Outsourcing (BPO) in Australia involves outsourcing non-core financial and banking operations to specialized third-party service providers. This includes functions like customer support, data entry, account management, and mortgage processing.

What types of banking and financial services can be outsourced in Australia through BPO?

In Australia, Banking & Financial Services BPO commonly includes services such as customer support, credit card processing, loan origination, mortgage servicing, risk management, compliance, data analytics, and more. These services enable financial institutions to enhance efficiency and customer service.

Why do banks and financial institutions in Australia opt for Banking & Financial Services BPO?

Australian financial institutions turn to BPO to streamline operations, reduce costs, and improve compliance with financial regulations. Outsourcing allows them to access specialized expertise, manage fluctuations in workload, and focus on core financial services.

Is Banking & Financial Services BPO in Australia compliant with local financial regulations?

Yes, reputable Banking & Financial Services BPO providers in Australia adhere to strict financial regulations, including those set by the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC). They prioritize data security, compliance, and confidentiality.

What are the key benefits for banks and financial institutions in Australia from Banking & Financial Services BPO?

Australian banks and financial institutions benefit from Banking & Financial Services BPO through cost savings, enhanced data accuracy, improved customer service, risk mitigation, and the ability to allocate more resources to strategic financial activities.

Is Banking & Financial Services BPO cost-effective for financial institutions in Australia?

Yes, Banking & Financial Services BPO in Australia is often cost-effective. BPO providers leverage technology, automation, and skilled professionals to reduce operational costs, improve processing efficiency, and enhance compliance.

Which types of Australian financial institutions can benefit from BPO services?

A wide range of Australian financial entities, including banks, credit unions, insurance companies, wealth management firms, and investment firms, can benefit from Banking & Financial Services BPO. Essentially, any institution seeking to streamline non-core operations can explore BPO solutions.

What risks should Australian financial institutions be aware of when considering Banking & Financial Services BPO?

When considering Banking & Financial Services BPO in Australia, data security, and regulatory compliance risks should be addressed. Collaborating with a reputable BPO provider with financial industry expertise and strong security measures is essential.

How can Australian financial institutions select the right Banking & Financial Services BPO partner?

To choose the right Banking & Financial Services BPO partner in Australia, institutions should assess experience within the Australian financial sector, regulatory knowledge, data security practices, scalability, and client references. Detailed proposals and thorough due diligence are crucial.

What trends are shaping the future of Banking & Financial Services BPO in Australia?

The future of Banking & Financial Services BPO in Australia is influenced by trends such as digital transformation, the integration of fintech solutions, regulatory adaptations, and the expansion of data analytics. BPO providers are also focusing on enhancing customer experience and risk management for financial institutions.