BPM in Financial Services Industry
By Sanjeev Sharma on Apr 15, 2012
The following series of blog posts discuss common BPM use-cases in the Financial Services industry:
- Financial institutions view compliance as a regulatory burden that incurs a high initial capital outlay and recurring costs. By its very nature regulation takes a prescriptive, common-for-all, approach to managing financial and non-financial risk. Needless to say, no longer does mere compliance with regulation will lead to sustainable differentiation.
- Payments processing is a central activity for financial institutions, especially retail banks, and intermediaries that provided clearing and settlement services. Visibility of payments processing is essentially about the ability to track payments and handle payments exceptions as payments flow from initiation to settlement.
For details, check out the 2 part series on improving visibility of payments processing (part 1 / part 2).