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Call Center Services

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Predicting Success with Confie BPO

The foundation of any finance business is money management for a wide variety of clients, including companies and governments. Confie BPO has years of experience in the financial services call center industry.

We can provide the financial services support you need – from treasury reporting, accounts payable and claims processing to data entry and bookkeeping, while remaining vigilant about information security.

What is a Call Center for Financial Services?

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A call center for the financial industry allows your company to focus on managing your customers’ money successfully through banking, mortgages, credit cards, tax preparation and investing. Your BPO call center partner takes on tasks, such as handling and routing calls, pre-qualification paperwork, claims processing and vital customer care.

An experienced call center can help you manage risk and eliminate accounting errors, while ensuring the timely filing of important reports and documents. Your key people will be free to handle other demands as you grow your business. The call center agents are experts in the financial industry and will easily integrate into your day-to-day business.

BPO Functions in the Financial Industry

Acquiring new customers and retaining current ones is how you optimize your bottom line. The financial call center experts are available 24/7 to help you incorporate new customers, take care of existing ones and the mounds of paperwork associated with the highly-regulated financial industry. Here are some ways BPO can help companies in the financial industry:

Team discussing benefits of a financial services call center in an office meeting.
  • Customer Service: As you are well aware, the cost of acquiring new customers far outweighs the cost of customer retention. Implementing Finance Business Process Outsourcing strategies help you capture new leads, as well as provide excellent customer services that will leave your current clients smiling.
  • Processing Loan and Mortgage Applications: Perform the routine back office tasks of reviewing applications and verifying information, such as income, assets, debt, property and more. You’ll receive graded documents to easily process and approve or decline applications.
  • Data Entry: When you need help inputting information into your systems, BPO companies will step in to save you time and money. The financial industry deals with paperwork — it’s part of the job. Don’t get drowned in reams of paper when you have better things to do with your time.
  • Security Management Compliance: Security is of the utmost importance in the financial industry. Your BPO partner needs to be stringent about maintaining up to date security standards to protect against payment card fraud, while also remaining compliant with international standards for information security management.
  • Compliant with Federal and State Laws: As a heavily regulated industry,      Finance Call centers will keep you in compliance with rules from numerous agencies, such as the Federal Reserve Board (FRB), the Federal Deposit Insurance Corp. (FDIC), and the Securities and Exchange Commission (SEC).

In addition to these basic but vital tasks, a call center can set appointments, help clients who have questions, perform outbound calls to spread the word about your company and much more.

If You Have Questions, We Have Answers

Benefits of Using a Call Center for Financial Services

Whether your business is small, medium-sized or large, your goal is to continue growing. If you’ve recently had a successful marketing campaign, you may be overwhelmed with the number of calls coming in every day. While this may sound like a good problem, you’ll spend too much time vetting people who don’t qualify and not enough time engaging those who do meet the bar.

Your BPO partner will help you improve efficiency by winnowing through incoming calls, making outgoing calls to recapture clients who are leaving or have already left, beginning the application process and dealing with the mountains of paperwork. Benefits of working with a savvy BPO call center include:

Agent smiling while working at a financial services call center.
  • Saving money: Instead of recruiting, hiring and training new employees as you grow, you can save money by choosing a call center to handle functions you may have once done yourself.
  • Stay up to date on compliance: The industry answers to several big hitters when it comes to regulations. Let your BPO partner ensure you stay up to date on all guidelines and standards to make sure you do not fall out of compliance.
  • Better customer service: Most people want to hear a voice on the other end when they call a business. Having a real person on the other end eliminates customer frustration.
  • Data collection: There is a lot of information your callers will provide to help you make smarter business decisions. A professional call center will collect that data and present it in easy-to-understand reports so you make the best choices.

Challenges of Using a Call Center for Financial Services

As mentioned, your financial services industry is subject to heavy regulation, very high standards of security, as well as white-glove handling of clients. You may find it hard to turn some of these functions over to a third party. You’ve put in the time to ensure your company never falters when it comes to these important features, but as you grow, you may begin to realize you need help with some of the more routine tasks so you can continue to have a laser-focused approach on some facets. Letting go is one of the most challenging aspects of using a call center. Some others include:

  • Finding a partner you trust: There are many call centers out there. It’s a big decision so take your time and find a company that shares your values and will allow you to start slowly.
  • Ensuring agents are qualified: as part of your narrowing down process, you will want to explore how your potential BPO partner recruits agents who are versed in the financial industry. Recruiting should be happening constantly and consistently so you can be assured you have the best possible call center workers.
  • Making sure training is above average: Your industry is highly regulated and attention to detail is critical. Agents should have comprehensive training, as well as ongoing training in your industry, as well as your brand.

How to Choose a Call Center for Financial Services

Man and woman reviewing results on screens at a financial services call center.

You need to carefully scrutinize any potential BPO call center partner for how it will fit with you and your business. Considerations for choosing the right call center vendor include:

  1. A firm understanding of your needs: Between you and trusted stakeholders or core employees, map out exactly where you need help and what functions you are willing to turn over to a BPO partner.
  2. Experience in the financial sector: Find companies to vet with an extensive, proven history working successfully in the financial industry.
  3. Quotation models: Once you have narrowed down your quest to a few possibilities, request quotation models built around your specific needs.

Any potential call center partner should provide your company with a free trial so you can kick the tires to make sure the fit is right.

Why is Confie BPO Different?

Guiding your business to success means navigating that fine line between risk and reward. With Confie’s BPO services, we can help you mitigate financial risks by helping you better manage your balance sheets. We can help provide more accurate forecasting while ensuring your business is entirely compliant with all relevant laws and regulations. What makes us unique? Here are a few ways you can find a better partner with us:

Three agents answering calls at a financial services-focused call center.
  • Transactional and Financial Accuracy: In conjunction with the latest in automated technology, our dedicated teams of well-trained agents ensure accurate and efficient handling of financial paperwork, maintaining strict security and compliance throughout.
  • Excellent Customer Service: Your clients want to talk to a real person with empathy and active listening skills. We believe the human touch is still vitally important. We help your customers find solutions to their challenges, as well as employing new technologies.
  • Optimized Productivity: We optimize the handling of loan applications, claims and data entry to achieve a vastly improved productivity gain. We will help you streamline your services, allowing for advanced foreplaning and budgeting with improved accuracy.
  • Targeted Industry Compliance: Our compliance teams use an active, ongoing system to ensure your business always meets all regulatory guidelines, so you never face a fine for non-compliance. We keep you updated on new and proposed changes to your industry.

Confie BPO Experience Record

Confie BPO has experience in the financial industry, with many years of helping decision makers find ways to decrease operating expenses with increased productivity and efficiency.

To truly grow your business, you must make it more efficient. At Confie BPO, we’re here to help you create streamlined processes that can reduce your operating costs in a major way.

In the financial industry, your business is only as good as the accuracy of your data. Confie BPO can help with real-time reporting, data collection, and data reporting. Our nearshore agents are professionals in the finance industry and we don’t rely on “scripts” to handle your clients, making natural and organic resolution much smoother.

Businesspeople in a meeting discussing metrics of having a call center for financial services.

Some of the financial services we support  with BPO assistance include:

Mortgage Brokers
Retail and Commercial Banks
Financial Advisors and Planners
And More!

Strictly focused on maintaining the integrity and security of your data, we stay on top of new and innovative methods for saving you money, while increasing customer satisfaction. Our nearshore shared services center employs working with a vast range of professional skill sets. Our agents are multi-lingual and fluent in both English and American customs. Our transparency and customized options have won us numerous accolades with our B2B endeavors.

The Future of Calls Centers for Financial Services

The call center industry in regards to financial services will only continue to grow. Future trends in your industry include leaders who are no longer content with making decisions based on incomplete or inaccurate data, learning how to use AI and other innovations to increase value per cost and an increased focus on making long-term decisions concerning their industry.

The finance industry is always evolving and has experienced sharp disruption in recent years. This leads decision makers to embrace instigating innovative technology to encourage stronger strategic decisions and mitigate risks. A call center will jump in to help you steer your business by taking some of the routine work off your plate, as well as provide critical information about data to help you plan more accurately.

Call centers embrace and employ new technology to give your customers a better experience, keep you in compliance with regulations, protect your data security and handle back office paperwork. Call centers will continue to hire trained professionals, such as accountants and tax experts, so you can offer top of the line services to your clients.

Your clients, both current and future, hold the key to your company’s success. Future financial services call center trends enable you to cultivate your customers while using cutting edge technology to handle routine chores.

Additional Aspects We Provide in Our Financial Service Call Center 

Male and female specialists reviewing the security of a financial services call center.

Our BPO services scale to suit your needs as you expand, and we can help you automate much of your business.  Our call center will help you achieve your goals of providing best-in-class service to your customers, while maintaining security and regulatory compliance. Our mission includes:

  • Comprehensive and ongoing training for our call center agents in your brand, products and services.
  • Reviews and practices for successful handling of difficult calls and challenges.
  • Investigating new technology for advantages in your industry and sharing that information with you.
  • Reports analyzing how your business is doing with regards to customer satisfaction.

Efficiency in Financial Services Made Easy with Confie BPO

Financial services call center team organizing tasks.

As a financial services professional, you have many irons in the fire. Every minute you spend answering the phone and completing necessary paperwork means one less minute spent growing your company. Let Confie BPO help you handle the routine and non-core tasks, while you beat your competition with a renewed focus. Give us a call today to see what we can do for you.

Take Advantage of What Confie BPO Has to Offer Today

FAQs about Financial Industry Call Center Services

Comprised of inbound calls services, outbound calls services, back office and administrative duties, as well as IT help, a financial services call center lets you focus on growing your company while a third-party handles the routine and non-core activities. Call Centers can handle customer inquiries concerning balance and transaction information, process loan and mortgage applications, help with financial and tax preparedness and accounting while remaining in compliance with federal and state regulations.

All types of growing financial services companies will benefit from turning over non-core tasks to a third party, including, banks and credit unions, insurance agencies, mortgage brokers, and financial advisors and planners.

Some of the benefits you will realize by turning over your non-core tasks to a call center include saving money in overhead, improved efficiency and productivity since your core employees will be able to focus on their own tasks, and new and improved data to help you make confident decisions and long-range plans.

One of the biggest challenges of outsourcing for any company is learning to let go and trust your BPO partner will provide the services they promise as well as keeping you in compliance with federal and state regulations, while maintaining vital security. This happens when you begin slowly, understand what exactly you want and need and work with a company with experience.

Take Your Business to the Next Level with Confie BPO