Retail Banking: Maximizing Return on Financial and HR Activities
Retail banking organizations must not only deal with a rapidly changing regulatory environment, but the evolving demands of the consumers they serve. Optimizing back office efficiency will help them better prepare for and react to shifting compliance and customer requirements, but that is all but impossible to achieve using paper-based methods.
Because retail banking is a commoditized industry, banks must differentiate themselves beyond just their offerings and deliver an improved customer experience. In addition to customer-centric processes, there are regulatory requirements, including those of Sarbanes Oxley and other financial regulatory bodies, which must be continually managed to ensure compliance. Corporate and regionally managed offices need to be able to quickly communicate and share data in real-time to satisfy the demands on both the HR and financial sides of the business.
Merchandise Back Office Efficiency
Miria’s ActiveOps platform delivers our suite of financial and HR business process automation applications to retail bankers with speed and ease. These tools automate content capture and management workflows of business-critical data and processes, saving immense administration time and producing benefits like reduced processing cycle times, improved visibility into financial operations, and enhanced employee performance—all enabling banks to improve the service quality they provide to customers.
Ensure Complete Accountability
Miria’s automation solutions provide built-in rules-based workflows based on retail banking industry best practices for coordination between corporate and local management teams. Financial business processes are automatically tracked, to instantly generate a complete audit trail of each touch point an invoice, expense report, or other finance-related document goes through. Our suite of HR-related tools help provide greater visibility into staff effectiveness company-wide, to streamline the execution of follow-up actions like rewarding top service employees or intervening with underperformers.
With this level of insight and control, retail banks can ensure they are continually adhering to both financial and HR-related laws.
Learn how Miria deploys ActiveOps into centrally managed, geographically distributed retail banking environments to generate business value in as little as 30 days.