Case Study
Stay ahead with reduced cost-to-serve: Firstsource delivers cost savings of $3million for top UK Bank
Stay ahead with reduced cost-to-serve: Firstsource delivers cost savings of $3million for top UK Bank
Stay ahead with reduced cost-to-serve: Firstsource delivers cost savings of $3 million for top UK Bank Case study Background The client is one of the largest banks in the UK and provides commercial financing solutions to businesses including factoring, invoice discounting, asset-based lending, asset financing and more. As a market leader in the commercial finance segment, the client has a 16% market share that translates to £3.7 billion. The client faced challenges of legacy systems that impacted customer experience and resulted in a high cost of service and exceptions management within their invoice factoring and discounting function. Post deliberations with several market players they reached out to Firstsource for a solution. Business challenge ? Cost-to-serve was high and there was an