Segments / Financial Services

Financial: Discover the Paragon partnership

The volume of clients, especially individuals, creates challenges of monumental dimensions for the financial industry. Digital operations increasingly incorporate branch services. But what about this migration and what are the service levels like?

The financial industry, in addition to being part of the economic infrastructure, is the only one permeating all other segments with its essential role in managing the receipts, payments and investments of individuals and companies and guaranteeing monetary stability.

This is also the industry that feels the deep changes that have been taking place in recent decades, especially in technology, with the greatest impact. 

Modern clients increasingly seek independence in the financial and banking management of their money, with practical and agile solutions, especially when using cell phones, which are their main means of relationship with the market.

This relationship is quite intense and rich in volume of data that can be mathematically modeled and provide countless possibilities for interpretation, individually or related to other processes.

It is possible to simulate scenarios with all the variables that the dynamics of a banking service requires and win with tested and safe decisions. How to do this?

Come and see the value that the PARAGON CONSULTING will add to your decisions towards growth!

Challenges in the financial sector

How we solve your problem

The PARAGON team is formed by experts in decision-making tools. Said tools include statistical, modeling, management and data visualization software and methodologies. We use the most modern simulation, optimization, scheduling and data visualization technologies. Our main goal is to offer security for decision making, presenting results and simple alternatives for complex problems that help reaching the productivity and profitability targets through cost reduction and investment optimization.

Optimization of presential service

It may sound strange when we talk about service at branches if, for a few years, we have been in a scenario where automation exists and works efficiently and securely in practically all banking and financial operations

On the other hand, the use of physical branches is still a strong culture within the country due to several factors – and with this is one of the major challenges in banking services: the queues. After all, wherever the face-to-face relationship is, there are the largest risks of failures and image deterioration.

In addition to the queues, there is management and back-office service, multiplying contact points and risks. At the same time, this working dynamic – where no two days are the same – produces a wealth of data that helps to optimize the operation.

In a single day of operation, the banking routine can show a series of values that, if tested in scenario simulations, deliver the required answers.

These are just some of the data and that can be broken down into further details if we use a mathematical data modeling tool to evaluate the results from the most diverse possible causes.

With a data simulation system from PARAGON, all this mass of data will be stressed in different possible scenarios to reach the one that will serve more efficiently and bring more benefits to the operation and to the company’s image.

Continuous process improvement

The financial industry is one of those that best respond to the incorporation of new technologies into your day-to-day activities and its relationship with clients. We can say, without a doubt, that the banking industry is particularly a pioneer in the use of innovations.

On the other hand, the internal structure of processes is one of the most complex, with high government regulation for several services, operations with many analysis variables, approval levels and time to generate a result to the client.

In no other industry does the motto time is money make so much sense and the time required to approve a loan can delay a client’s investment – not to say a lost sale to a competing bank.

The improvement of processes is a goal that must be constantly pursued by the industry so that the institution can understand the expectations of consumers and provide faster answers, using technology.

Historical results across the financial ecosystem provide a valuable range of data that can help identify bottlenecks and opportunities for process improvement, especially in the strong interrelationship that exists between them and their common data.

The use of tools for handing large amounts of data with PARAGON is essential for each occurrence and for its data to be integrated into the most comprehensive scenario possible and where it is possible to analyze improvements even in other processes.

For example, sales of financial products are down because management spends too much time on client issues that they present. What alternatives can prevent this from happening?

In the simulation of scenarios of  PARAGON, we analyze the banking operation in a broader manner, with the relationship between the processes to find possible solutions and test them in virtual environments before implementing them, reducing internal and client risks.

Financial: Paragon Clients

In the digital age, adding an extra attendant or deploying an inefficient chatbot is simply not enough. You need to test and measure alternatives to ensure operational excellence. Demanding clients and the ease of spreading information in the event of a bad service are tangible and intangible costs that can damage a company’s reputation and risk millions in lost sales. A digital twin is fundamental to test alternatives and generate effective planning.

Do you want to bring data excellence to your project to make the most assertive and secure decisions about your financial operation?

PARAGON can be your ally!

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