Banking, Financial Services & Insurance (BFSI)

Transform customer journeys & automate core processes

Rising expectations of users, legacy systems & infrastructure, adoption of emerging technologies following ever-changing compliance requirements are the challenges of BFSI players – which we focus on solving through our below offerings.

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BFSI Segments We Served

Health Insurance

Handled claim digital lifecycle creating front- office apps, back-office integrations, and EDI batch transfers

Property Insurance

Developed personal real-time portfolio monitoring applications with inbuilt risk management tools

Investment

Designed AI driven investment advisory assistant with proprietary formulas and financial modelling

Credit Union

Implemented a cloud-based collaboration & insights platform for corporate banking relationships

Small Finance Banks

Developed open banking digital ecosystem and APIs for seamless integration with third party services

Rating Agencies

Built an auditing platform to import sample test data, streamline rating process and analyst workflows

FinTech

Built a decentralized blockchain platform for exchanging the sensitive information between partners

Revenue Cycle Management

Automated eligibility verification, payment reconciliation, denial analysis, data aggregation and reporting

What’s the next big thing in BFSI ?

We assess your digital maturity and help you modernize your digital strategy to withstand the
market competition, adopt new business models and delight customers.

Our Offerings for BFSI Players

Platform Development

Create secured and user-friendly platforms to support complex financial operations across banking, investment, wealth management, asset management, and insurance

Data Analytics

Extract valuable insights & patterns from vast amounts of financial & customer data for risk assessment, investment strategies, personalized services, and fraud detection

Software Testing

Identify and fix the security vulnerabilities, performance issues, data integrity compromise areas, non-compliance of BFSI regulations to meet the highest quality standards

Mobile App Development

Enable on-the-go financial services over user friendly mobile apps to access accounts, make transactions, access personal information, and receive alerts

Artificial Intelligence

Build AI-powered virtual assistants for financial planning, NLP-driven chatbots for customer support, intelligent algorithms for fraud detection, risk assessment and accurate predictions

Process Automation

Automate data entry, claims processing, invoice reconciliation, accounts payable & accounts receivables compliance reporting, customer query resolutions, and data transfer between systems

Legacy Migration

Consolidate repeated solutions or sunset hard to maintain solutions or eliminate the technical debt through application and data portfolio rationalisation and recommending the best fit modern solution.

API Management & 3rd Party Integrations

Facilitate integration with Open Banking APIs & Systems for efficient data exchange, enhanced collaboration, and the ability to leverage external services, expanding the capabilities

Cloud Adoption

Design scalable cloud storage, disaster recovery solutions, backup multi-zone host mechanism for enabling BFSI applications and data accessible securely from anywhere

Blockchain Audit Solutions

Build Hyperledger blockchain connected web applications for secured partner contracts, immutable log mechanism, decentralized payments & financial tracing information

Solutions we have delivered across BFSI Industry

PalTech has delivered the below core financial systems and customer self-support solutions for our BFSI industry clients to enhance their customer experiences, optimise operations, and drive business growth.