Business Process Optimization with Financial Software from Bosch Software Innovations: for greater Efficiency, lower Costs, and higher Quality

Banks and other financial service providers are constantly having to face up to new challenges, including regulatory changes, a swelling flow of data, and lower returns on investment coupled with the obligation to maintain a high level of capitalization and available cash flows. Growing competitive pressure makes it imperative to update existing business models as a means of attracting new customers and maintaining a stable customer base.

Sustained Optimization of Business Processes

The majority of financial institutions counter this pressure by taking steps to cut costs and improve efficiency. A key element in this context is the optimization of existing business processes. Bosch Software Innovations offers a modular set of software tools that you, too, can use to streamline your workflows, reduce operating costs, and thereby free up time for other activities. Our many years of experience and broad-based expertise are values you can trust. Since our company was formed in 1997, we have successfully implemented projects for banks and financial service providers around the globe, dealing with diverse issues such as:

• Compliance
• Fraud
• Risk management
• Client onboarding
• Client data management
• Sales & management processes
• Advisory
• Administration
• Multifunctional templates

Swifter Response to Regulatory Changes

Basel II and III, MiFID, FATCA, SEPA, anti-money laundering laws, bilateral withholding tax arrangements – there are few areas of the economy more strictly regulated than the financial sector. Today’s tangled web of rules and regulations already represents a major hurdle for banks and financial service providers. And the list keeps growing longer. In order to cope with these constantly changing requirements, there is a need for flexible and rapidly adaptable systems – such as those that make up the Bosch Software Innovations portfolio. Our technologies, which comprise the inubit Suite of business process management software and the Visual Rules platform for business rules management, are based on a clear concept: modeling instead of programming. This allows specialist users such as members of the loans department or compliance officers to design processes and define decision rules suited to their purpose.

Automation frees up Capacity

Informed experts advise banks and financial service providers to automate their processes, because by streamlining and standardizing their workflows they will be able to save costs and free up valuable time for other activities.

Whether making loan decisions, advising clients, or dealing with compliance issues, financial software from Bosch Software Innovations supports the (end-to-end) automation of your business processes. In this way you can increase the proportion of fully automatic processes and ensure that only truly relevant cases are forwarded to a supervisor for manual checks.

Minimizing and Monitoring Credit Risk

When it comes to loans, banks and financial service providers are faced with a real dilemma. On the one hand, the institution needs to be able to assess the risks associated with granting a loan as accurately and transparently as possible. And on the other hand, the process needs to be automated to a high degree to allow efficient use of the available human resources. The solutions provided by Bosch Software Innovations enable you to automate the processing of up to 90 percent of your loan requests. The underlying rules and processes are so clearly structured that you can easily adapt them to any situation and respond flexibly to changes in the macroeconomic environment or legal framework.

Improved Quality through Standardized Processes

In many cases, structured workflows enable you not only to save time and money, but also to improve the quality of your processes. For instance, the use of standardized, IT-based consulting processes can enhance your company’s professional image in areas such as client onboarding, private banking, or wealth management. They will also have a positive impact on customer satisfaction and on your close rate.

Modular Platform Architecture for greater Flexibility

The days of giant, monolithic, all-in-one banking systems are over. Modern banks and financial service providers prefer to supplement their core banking system with powerful, modular IT systems that allow them to respond immediately and flexibly to any new developments that might arise.

The open architecture approach employed by Bosch Software Innovations in its financial software gives you all the flexibility you need. This holds true in more ways than one: we have special templates for many typical banking activities that you can use to optimize your workflows in areas as diverse as compliance, risk management, client onboarding, advisory, or client data management. Moreover, our financial software incorporates numerous connectors, standard interfaces, and adapters which enable it to be integrated easily into your existing IT environment. Last, but not least, all Bosch Software Innovations technologies are highly scalable, which makes them eminently suitable for the processing of massive data flows.