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Why KYC & Onboarding Is Essential To Financial Service Providers & Their Customers?

Published at: October 6, 2020

Do you know what are the parameters that a customer usually uses to decide the experience with a new bank and insurance service provider? The answer is the onboarding process. To put it utterly, this process plays a vital role in setting the tone for the client’s overall experience with the bank or insurance service provider. Furthermore, in today’s time of important Know Your Customer or KYC norms, it is equally valuable to collect KYC data that will help for the ongoing maintenance and management of the account. Today, digital data banks like Aadhaar, NSDL, CKYC repositories, etc, and regulatory bodies make it compulsory for performing e-KYC via biometric authentication.

Significance of CRM For KYC and Onboarding For Financial Service Providers:

Different financial services providers, whether be it banking or be it insurance mandated responsibility to understand their customers and negotiate the risks they pose before offering services. When the prospective customers lack any kind of testimony, or when their identification is challenging to authenticate, it becomes tough for service providers to deliver the necessary Customer Due Diligence (CDD) on them. Then, this can appear in two restrictions on financial inclusion:

  • On the demand side: Lengthy or embarrassing onboarding systems can discourage potential customers from signing up for financial services, and
  • On the supply side: Expensive customer identification and due diligence systems can give low-income customers profitless, compelling the size of the viable market.

Effective and powerful CDD systems fix both these concerns. Here is where KYC and onboarding become the best solution to banks and insurance providers. Although more complicated to perform than conventional KYC, it encourages plenty of benefits in the long term like lesser man hours, cost reduction, developing the record-keeping system, and as a macro view, also advance financial inclusion.

Significance of CRM For KYC and Onboarding For Customer

KYC and onboarding of the customers come up with different aspects:

  • Require no paperwork or waiting time for accounts to be opened
  • No more queuing up at bank branches to submit paperwork
  • No wasting time and effort in multiple follow-ups and innumerable other processes that the customer had to undergo until some years ago.

Due to CRM for KYC and on-boarding, opening a bank account or applying for an insurance policy has become completely hassle. All it requires is just a few minutes and some basic details and you are all set to go.

Crochet Technologies:

If you are finding the CRM solutions for KYC and onboarding, Crochtech Technologies is what you need.  Crochtech Technologies is the silver partner of Pega and can help your business with the KYC or onboarding requirements. Crochet Technologies is a Global Information Technology (IT) Services and Solutions company that puts its hard efforts to streamline and automate your business processes.

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Three Pillars of Business Process Management Solutions (BPM)

Published at: September 3, 2020
Business process management or BPM software solutions assist organizations in numerous ways. These solutions work as process refinements and automation tools that can streamline the entire business system and come with great customer experience, improved productivity and higher ROI resultsts.

BPM Solutions – Connecting People, Processes and Technologies

Modern BPM drives digital transformation and keeps up with the latest trends of social, mobile and cloud-focused businesses. 

Pillar 1 – People

Employee-customer relations underpin just about every aspect of business success. Keeping customers satisfied and engaged has become an essential competitive differentiator between today’s businesses. And undoubtedly people are the center of these relationships. This is what you can achieve with BPM solutions as it helps in connecting people, processes and technologies.

BPM Software Capabilities:

  • Build process capabilities into apps 
  • Incorporate task management functionality into operations 
  • Provide visibility into both analytics and real-time data 
  • Route processes based on employee skills 
  • Positive interactions

These BPM software capabilities help organizations to build a people-focused environment. Employees will be well-positioned to meet the unique requirements of customers. This way you can offer great customer services and associate them with your business for a long time. Additionally, it can efficiently reduce many tedious operations and red-tape procedures. 

Pillar 2 – Technology

The significance of IT innovation is immediately connected with how strongly technology aligns with business-specific demands. BPM has always focused on people and processes and has advanced into a digital transformation enabler by computing technology to the equation. 

BPM Capabilities:

BPM involves technology in the following methods:

  • Organizing data into user dashboards
  • Aligning processes and application functionality 
  • Accelerating app delivery

All of the information feeding into BPM systems lets the software offer in-depth analysis into trends and patterns.

Pillar 3 – Process

A business process is a set of activities or transactions that are completed consistently. Or we can define the process that:

  • Potentially include internal and external users
  • demand input from multiple stakeholders 
  • Require a variety of data types 
  • Incorporate repetitive workflows that can be automated

BPM Software Capabilities:

  • Identify what processes a business is performing 
  • Map out how those processes communicate 
  • Recognize opportunities for automation 
  • Determine the required scripts and data engines essential for automation systems 

BPM solutions empower companies to build internal policies/rules and implement them.

When businesses efficiently bring the people, processes, and technology together, they can streamline different operations. It allows users to access all data they need to better collaborate, which results in quicker decision-making with diminished risk. 

Our leadership team has more than 100 years of combined BPM Software experience.

We at Crochet Technologies streamline & automate business processes driving digital transformation to deliver value. 

We are partners for leading BPM Solutions PEGA & APPIAN. 

Crochet Technologies:

Crochet Technologies is a Global Partner of world’s renowned PEGA & APPIAN platforms. It has offices across EMEA & APAC and serves across the globe. Crochet provides its core specialized business process management (BPM) consulting and advisory services to worlds leading Fortune 500 & UK FTSE 100 companies. With focus on driving digital transformation through lean & technology-driven approach, Crochet has gained popularity with its Cloud Services offering.

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It’s A Mobile-First World. Is Your Organization A Part Of It?

Published at: September 1, 2020
The target of every organization is always to boost its brand reputation, audience base, sales, and revenue generation. But the real challenge comes when you have to seek the method that is actually helpful in performing all these and find multiple growth opportunities and generate hefty revenues. And, here comes mobile applications. 

Undeniably, today mobile has become a buzzword in the world. According to a survey, approximately 99% of the total population prefer to perform their crucial tasks through mobile devices. It simply depicts if you will provide them  with engaging mobile apps that can ease their burden and come up with seamless user-experience, it will help you in observing the results in business you really wish to achieve. Thus, the secret to grow your business beyond expectations is agile and instant business mobile applications.

Appian Mobile Development – Capitalize Your Organization On Mobile Revolution: 

Appian helps you to build native mobile applications quickly that work across devices. It will help your organization to go mobile directly and align with the mobile expectations of employees and customers. This way you will be able to intensify the pace of business and generate heavy revenue. 

Salient Features Of Appian Mobile Development Platform:

Appian mobile app development platform comes up with the following features that allow you to  utilize many significant benefits:

Low-code developer tools
With visual drag-and-drop and point-and-click design tools, you can develop the apps 20 times quicker than the traditional development process.

Real-time testing
Appian applications come with build it & go features. When testing performs as you design, your apps can be in the hands of users quickly.

Run-on any device
Appian’s patented-pending SAIL technology depicts you never have to build for iOS and Android individually. Just build once, and your app works natively and as expected on virtually any device.

Centralized UI functionality
The centralized User Interface feature also makes the Appian mobile apps best to use. You can manage and apply style sheets and branding, with UI frameworks that assure a steady look and feel in no time flat.

Crochet Technologies

Crochet Technologies is a Global Information Technology (IT) Services & Solutions company. With the partnership of Appian, Crochet is helping the organization to have mobile-first mentalities by leveraging Appians secure, powerful low-code platform. You can roll more user-friendly mobile applications for your organizations now without the need to code.

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“ITS A YES” To Pega Low Code Development Platform

Published at: August 28, 2020

Until now, enterprises had to code from scratch or purchase a packaged app and then customize it as per unique business requirements. This in turn ends up with a greater cost and time-consuming development process.

With Pega Low Code Development platform you can create a standard in your business application and drastically cut down the cost of traditional app development and other related operational expenses.

What is Pega Low-Code App Development Platform:

This platform is a low-code factory approach that enables developers to develop enterprise apps with low or zero coding stress. Business users, developers, and IT can collaborate, build, and deliver brilliant applications from one comprehensive environment. It provides leverage to organizations to build apps quicker and smarter. It additionally speeds up the customization process of app development and support to the most complex enterprise use cases.

Key Features Of Pega Low Code Platform:

  • Enhance productivity in one agile environment
  • Cosmos design system
  • Higher quality application
  • Quick and powerful integration
  • Earlier business value realization
  • Greater Transparency & visibility
  • Greater Agility
  • Case management & BPM for regular flawless operations

Critical Challenges Fixed By Pega Low Code Platform:

In most general cases, the low-code application development software supports two types of users

  1. Business/power users who remain in search of the software that makes it simple to design & build simple applications.

This group of users faces the following challenges:

  • Not fluent in a programming language
  • An accurate translation of business requirements into functional capabilities
  • Ability to respond faster to changing product, market, or campaign requirements
  • Limited knowledge of governance, control, and policy management 
  1. IT departments who need software that assists develop more complex processes and integrations while support to automate the app development process. 

This group of users faces the challenges:

  • Modification of legacy systems
  • Collaboration with stakeholders timely
  • Enterprise-wide governance
  • Software toolkits that limit collaboration
  • Project overload/restrictions on IT staff availability

Pega low-code app development platform provides a simplified, graphical UI commonly supported from limited functions and basic apps to complex enterprise app development. On the other hand, Pega low-code app factory strategy leverages visual tools that let business experts build the applications faster and without writing code. It offers governance frameworks to leverage, reuse, and collaborate with IT in order to assure quality, security, and sustainability. 

Benefits Of Using Pega Low Code Platform:

  • Helps organizations to build agile applications quickly
  • Reduce 1/10 app development cost
  • Speed up x10 times the app development process
  • Enhance productivity to build more apps in less time
  • Better customer experience
  • Efficient risk management & governance
  • Faster digital transformation
  • Give end-to-end developer experience

Success Stories:

An American leading  scientific research organization Air Force Research Laboratory has built a powerful platform with the help of Pega Low Code capabilities that help them to improve data quality for empowered decision-making.

Siemens AG is a German multinational conglomerate company that has created a new Global Master Data Management solution with the support of the Pega Low Code. This solution helps them in reducing 65% of customer onboarding time and automating data validated at initial data entry points. 

With Pega’s low-code platform, Optum, a part of UnitedHealth Group, was able to move the lead business architect to the business side. It drastically enhances the delivery due to subject matter expertise. By connecting data across the enterprise, Optum also designed a chargeback model to track spending down to a clinician-level with Pega assistance.

Crochet Technologies

Crochet Technologies is a Global Information Technology (IT) Services and Solutions company. With the silver partnership of Pega, Crochet helps organizations in streamlining and automating business processes.  Crochet offers end-to-end services from business consulting, development, design, and managed support in Pega space. With Crochet’s deep business acumen, world-class project delivery and leadership capabilities, we are supporting companies in building the most powerful application quicker and with low code capabilities. These applications help them to drive powerful outcomes in business.

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Appian Intelligent Contact Center – A Revolutionary Platform For Smart Enterprises

Published at: August 28, 2020

Customers come with expectations and businesses have to innovate newer ways of handling customer queries with more personalised and seamless experience. 

Customized experiences, quick response and absolute engagement are the factors that customers expect in return for their loyalty. But contact centers are saddles with manual processes that consume lots of time, disconnected channels, and siloed data. 

All these end up with poor customer experience!  

Business leaders are expected to drive the daunting tasks of meeting these customers demands with speed, empathy & success. How do you achieve that?

The answer is pretty simple: Automation 

If you want to deliver a fantastic customer experience, you must transform your contact center with an innovative platform that lets you swiftly deliver an integrated customer experience across channels and customer touchpoints. This is where Appian Intelligent Contact Center can help you.

Who is APPIAN?

Appian is a recognized global leader in multiple enterprise technology markets. Markets called intelligent business process management systems (iBPMS), dynamic case management (DCM), digital process automation (DPA), and low-code development.

Who is Crochet Technologies?

Crochet Technologies (www.crochetech.com) is a Global Information Technology (IT) Services provider and a trusted partner of Appian that offers strategic technology partnerships to support the clients with Intelligent Contact Center needs for a better future. With years of BPM experience, Crochet leverages its technical skill sets in driving digital transformation goals through delivery & implementing BPM consulting, advisory & tech solutions shaping the  organisations to achieving their ROI on existing investments efficiently & effectively.

Regardless of what you call it, we work for the same goal

We’re here to simplify what it takes to turn great ideas into powerful business applications that deliver significant value.

What APPIAN Offers:

Low-Code Cloud Platform

Design brilliant applications that match advanced security features, confidentiality, and compliance controls by embracing a cloud strategy with a low-code application development platform.

Intelligent Automation

Automate work, integrate systems, orchestrate processes and apply business rules with key technologies – Artificial Intelligence (AI), Business Process Management (BPM) and Robotic Process Automation (RPA)

Omni-Channel Engagement

  • Turn multi-channel support into an omnichannel environment by integrating email, chat, voice, SMS into a single interface
  • Enable agents to handle multiple digital channels at a time. 
  • Provide agents a broad view of the customer journey, create rewarding experiences, and promote lasting customer loyalty.

Dynamic Case Management

  • Use case management to unify the interactions between people, processes, data, and content.
  • Get a consistent view of the customer and support problem solving for complex interactions.

Salient Features of Appian ICC:

  • Unified Customer View for personalized customer interaction
  • Universal Agents for Fast First Call Resolution
  • Omni-channel communication for seamless customer engagement

Managers Dashboard View:

  • Unified Agent Information
  • KPI Monitoring
  • Sentiment Analysis

Agent’s Dashboard View:

  • Unified Customer View
  • Universal Agents
  • Omni-channel Communication

Appian ICC Technology : Success Cases

British multinational investment bank and financial services company Barclays plc has observed a 64% increase in customer satisfaction services by adopting Appian ICC technology.

Similarly, Target , a reputed American retail corporation experienced 80% improved customer service levels with Appian ICC platform.

Aviva Insurance UK

Aviva Insurance UK claimed 40% of cost-saving results with Appian advanced Intelligent Contact Center feature.

In a nutshell with the right implementation of your Appian ICC Platform, Crochet Technologies can help you create Long Term Business Impact by Reducing Cost, Increasing Customer Satisfaction & Delivering Customer Success.
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American Bank FINED by Regulator for Lapses in Digital Transformation

Published at: August 25, 2020

Digital Transformation is the use of new, fast and frequently changing digital technology utilizing process, people and automation to solve business problems. It is about transforming processes that were non digital or manual to digital processes to enhance business performance through DATA. However, often digital transformation when not implemented correctly could lead to potential disruption in business and result in playing puppets in the claws of the Regulator.

This is exactly what happened on August 6, 2020 when the Regulator Office of the Comptroller of the Currency (OCC) fined an American Bank with multi-million dollars as penalty for failure to implement cyber security and digital transformation efficiently before migrating their IT to the cloud environment.

Data in excess of 100 MN individuals in the US & almost 6 MN individuals in Canada was exposed to a security breach by an unauthorised access as admitted by the Bank. Millions of American Dollars & the ugly encounter with the regulator for violating strict data privacy laws led to the organisations reputation at stake, all which could have been avoided.

There are innumerous automation product softwares available just a click away at the disposal of the organisational leaders. These software not only mitigate the risks by identifying, assessing, monitoring and generating threats alerts but also provides suggestions to further tighten and improvise policies, processes, and controls.

 

Crochet Technologies (www.crochetech.com)  is a reputed partner with PEGA & APPIAN BPM Softwares who believes in creating “Cloud First” mentalities. They have unmatched capabilities and claim more than 50 years of combined BPM experience. With their thorough understanding of the regulatory process, it’s not a surprise to see most of their clients in the Banking & Financial Services Industry trusting them with their BPM needs. Having historical heritage partnerships with Pegasystems who has great engineering expertise, Crochet has immense consulting experience helping oransationsations evaluate their cloud needs and then recommend best practises to migrate in a Cloud based environment to meet their digital transformation goals. Carefully managing the process risk capabilities, mitigating regulatory operational risks & implementing best practices timely makes them different from the crowd in the Cloud.

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Unlock The Secret To Everlasting Customer Relationship through CRM Solutions

Published at: August 24, 2020
Well-said by a great businessman, “There is only one boss, The Customer.” Any company can find unpredictable obstacles in their path, but those who place their customers’ on top priority can handle them successfully. One of the lessons 2020 has taught businesses is the importance of developing sound relationships with customers. With the strength of strong customer relationships, businesses can stand in the market even in the COVID-19 like situation. This simply depicts to drive successful outcomes in your business, you need to be focused on improving customer services.  When it comes to improving customer services, the CRM system is considered the most effective tool to keep the businesses organized and customers satisfied. The system helps the business to engage their potential customers from anywhere, anytime, or on any device rather than just making them wait over the phone. 

How CRM helps in improving customer services:

CRM tools are specially designed with a number of advanced features and functionality that help the business to improve productivity and build a sound relationship with the targeted audience. In addition to this the most business CRM systems have case management functionality that enables agents to track & manage professionally:Customer Service Software for Small to Enterprise Businesses
  • Customer Contact Information
  • Correspondence
  • Documents
  • Conversations
  • Billing Information
CRM system offers many leverages like LIVE chat or more to the service agents that help them in making a good relationship:

Engagement Through Different Social Media Platforms:

One of the best benefits agents can utilize with CRM software is social engagement with customers. Agents can distinguish the key social media influencers within their customer community, and get vital marketing insights applying the built-in analytics that are usually given by CRM systems.

Knowledge Management Portals

Another remarkable feature of CRM systems is knowledge management portals for customer self-service. These portals allow customers to reach FAQ or troubleshooting items(usually articles) without the help of an agent. Some CRM solutions also allow organizations to provide customers with their online communities where they can invite each other for help, provide feedback, and even voice their plans for new services or products.

Crochet Bespoke CRM Solutions

Crochet Technologies is a Global Information Technology (IT) Services and Solutions company. Crochet’s helps streamline and automate business processes across industries. Crochet offers end-to-end services from business consulting, development, design and bespoke CRM & enterprise solutions. With Crochet’s deep business acumen, world-class project delivery and leadership capabilities, we assist companies in making the most of digital transformation CRM  investments for driving their business value. We have clients across Banking and Financial Services, Manufacturing, Telecom and Public affairs. We create AI-powered CRM applications that  helps small and large enterprises to revolutionize their customer engagement with end-to-end automation.
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Don’t Waste Time! 3 Facts Until You Reach Your Case Management Needs

Published at: August 24, 2020

Whether it’s a small business or an enterprise, everyone faces the common challenge of maintaining lengthy, time-consuming documentation track of records. 

For instance, 

  • In the finance industry, customer needs are addressed, cash flow is managed, inventories are conducted, among other things.
  • In the field of medical industries, patients must be partnered with the correct physician, provided reliable services, supplied medication, and given accurate documentation of their medical history. 
  • In law firms, they have to answer client questions, refer clients to a suitable lawyer, handle simple to complex cases, schedule court cases, and perform required documentation of all cases.

Well, all these are quite complicated processes that are extremely collaborative and information comprehensive. For smooth and correct implementation of these tasks, you have to choose a system that can complete them in an automated and efficient manner. Case management is the perfect solution to this.

1. What Is Case Management Software?

“Case management” is a subjective term that indicates various things to different people. It can be as easy as a contact management and organization application. Or, it can be as complex as an end-to-end legal platform which allows you to investigate every action on a case. Basically, case management software is driven by data the information you collect from multiple sources. This comprises:

  • Case documents
  • Clients
  • Third parties, or more 

Or in technical words, case management software is a data-driven solution that lets you efficiently implement your legal processes by managing each step on a data level.

What actually case management performs for the companies?

Case management comes up with a dynamic structure for implementing non-routine unpredictable business processes that lack coordination of multiple tasks and difficult decision-making.

2. Remarkable Benefits Of Case Management Software:

Effective resolution of cases

Case management software gives one solution to manage multiple cases. This improves productivity and efficiency. 

Enhanced transparency

Its workflow elements contribute to enhanced transparency in all processes.

Customized customer care

Customers are given a more customized experience through various means like analytics, live chat software, or messaging apps. Customer profiles can be pulled out so customer service reps can accurately fix the queries of the customer.

Prompt access to information

An integrated system advances up searching for information required to solve a case.

Self Service Portal

Some case management systems can be utilized to give customers self-service portals that allow them to fix issues on their own.

3. What To Look For In The Case Management System?

As there are many case management systems available in the market, but it’s essential to choose the one that exactly meets your business’s tracking, communication, and reporting requirements. And while features are valuable to look at when selecting which system to choose, there are vital questions to analyze:

  • Does the provider give quality, ongoing support?
  • Can the system be configured to match your industry’s unique demands?
  • Can the software grow and adapt to your industry?
  • Is it accessible to recover and report on the data you gather?
  • Can you make minor system modifications without having to go through the provider?

The Best Case Management System Provider:

We compared many softwares and basis the above-mentioned factors, we found Pega is the best award-winning case management solution that has multi industry niche experience handling complex processes quite smoothly. The solutions are specially designed to address the challenges companies are facing nowadays with a simple low code approach.

In a nutshell, if you want to run your business smartly through a reliable case management software, you can consider Pega! We are silver partners for Pega and can help you assist your business with your Case Management needs.

Crochet Technologies is a Global Information Technology (IT) Services and Solutions company. Crochet’s Pega competency helps streamline and automate business processes across industries. Crochet offers end-to-end services from business consulting, development, design, and managed support in Pega space. With Crochet’s deep business acumen, world-class project delivery and leadership capabilities, we assist companies in making the most of BPM investments for driving their business value.

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Does Your Sale Need A Lift? Try Pega Sales Automation

Published at: August 24, 2020

Mobile devices are emerging as a powerful tool providing phenomenal opportunities to the sales team. These devices offer fantastic opportunities for sales representatives and managers to automate different processes and perform an array of work like checking email and schedules tasks, sharing files, accessing documents and collaborating with their co-workers effortlessly.

That’s why every well-developed organization considered mobile applications the most reliable and efficient platform to achieve success in lifting sales.

The purpose of providing mobile devices to the sales team is usually getting the deft and diligent performance. Improvement in sales performance depicts that you’re saving the time it takes to get things completed that ultimately ends in financial savings for the business.

But, the substantial fact is that you don’t have to settle for just boosting productivity. You have to look for solutions that can aggressively drive more sales and energize your sales teams. And, for this purpose, Pega Sales Automation which works equally seamlessly on mobile can be a game-changer.

The Pega Sale Automation application is specially designed for the mobile sales rep or manager and gives an intuitive user experience to automate and streamline common sales activities. In addition to that many other features of this application make it a perfect tool to choose.

Salient Features Of Pega Sales Automation:

  • Automate & accelerate the sales process
  • Less time on updating system or hunting content
  • Instant access to important sale info
  • More time with potential customers
  • Keep progressing sale efforts 24×7
  • Online & offline access to sale reminders
  • Informed actions in real-time
  • Seamless customer experience
  • Improve sales management performance
  • As responsive as on the desktop version
  • Easy to use application

Crochet Technologies (www.crochetech.com) is a trusted silver partner with PEGA and has successfully delivered on Sales Automation requirements in Banking, Financial Services, Insurance, Government & Telecom clients. While building the application, their primary focus is always gathering information about clients’ current objectives and then applying the best practices to action.

More About Crochet Technologies

Crochet Technologies is a Global Information Technology (IT) Services and Solutions company.

Crochet’s Pega competency helps streamline and automate business processes across industries. Crochet offers end-to-end services from business consulting, development, design, and managed support in Pega space. With Crochet’s deep business acumen, world-class project delivery and leadership capabilities, we assist companies in making the most of BPM investments for driving their business value.