Banking

The banking sector is one of the most competitive sectors as far as customer service is concerned. Competitiveness in this sector is contingent upon turnaround times to serve the customer, which is in turn dependent upon the productivity of the employees and the speed of process execution. Key business processes such as client approval, opening of new accounts in the system often slow down the customer response time. Regular tasks such as change of address, fee reversal, account maintenance and new account opening require speedy process execution and maintenance.

The hands off time (transit time) for any activity in such an operation may be as high as ninety percent (90%). Also such systems demand flexibility so that you don't have to indulge in expensive programming frequently

The pressing needs of the banking sector are as follows -

1. A customer friendly system, which has minimal turn around times / decision making times.
2. A system that enhances productivity of its employees with a focus on delivery.
3. A system that is scalable to accommodate new processes and new users as the organization expands its operations.

The tangible benefits of such a process automation solution could be -

- Reduce customer waiting times
- Realization of a 24 hour online service

To put in a nutshell such a system would bring in robust automation and exploit all scope for a paperless office, zero time lag office.

How does Flow-briX help you achieve these goals ?

	Business Process modeling and management - Flow-briX with its unique Business Process Definition Editor can be employed to uniquely define and model business processes. The Flow-briX Business Process Definition Editor automatically generates the XML script for the business processes. The XML script can be plugged in directly to a workflow engine so that it may execute a workflow process. The Business Processes defined in the BPDE is capable of accommodating dynamic changes and changes made of the fly.
	Synchronization of customer inputs and information across channels - Customers could be interacting with the bank from a number of channels such as the ATM, Internet or across the counter. To offer reliable customer services, one needs to synchronize across channel operations. Flow-briX with the help of other vertical focused application's would interpret the user input from any channel (ATM/ALM/Branch office etc) and invoke the right process for timely customer service. Since Flow-briX is WfMC (Workflow Management Coalition) compliant, it would facilitate easy integration with partners and customers.
	Increase productivity -Automation the review and approval process - Flow-briX's routing and approval process eliminates the hands off time in any business process. Typically the hands off time in any process could be anything between 40 % and 90%. Elimination of the hands off time reduces the response time to any customer request and increases significantly the productivity of the organization. Hands off time is also eliminated by suitable coordination mechanisms such as messaging, escalation, and minimal employment of paper and manual intervention.
	Expanding as your business expands - Flow-briX provides you with the scalability required to add more processes and reliably serve an increased number of users that load the system. Flow-briX being a loosely coupled modular framework, it is easy to add more components to develop a solution suitable enough to cater to your latest requirements. The J2EE architecture helps achieve enhanced transaction capabilities.