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Banking, Financial Services & Insurance (BFSI)

Transform customer journeys & automate core processes
BFSI
Rising expectations of users, legacy systems & infrastructure, adoption of emerging technologies following ever-changing compliance requirements are the challenges of BFSI players – which we focus on solving through our below offerings.

BFSI Segments We Served

BFSI
Health Insurance
Handled claim digital lifecycle creating front- office apps, back-office integrations, and EDI batch transfers
BFSI
Property Insurance
Developed personal real-time portfolio monitoring applications with inbuilt risk management tools
BFSI
Investment
Designed AI driven investment advisory assistant with proprietary formulas and financial modelling
BFSI
Credit Union
Implemented a cloud-based collaboration & insights platform for corporate banking relationships
BFSI
Small Finance Banks
Developed open banking digital ecosystem and APIs for seamless integration with third party services
BFSI
Rating Agencies
Built an auditing platform to import sample test data, streamline rating process and analyst workflows
BFSI
FinTech
Built a decentralized blockchain platform for exchanging the sensitive information between partners
BFSI
Revenue Cycle Management
Automated eligibility verification, payment reconciliation, denial analysis, data aggregation and reporting

What’s the next big thing in BFSI ?

We assess your digital maturity and help you modernize your digital strategy to withstand the
market competition, adopt new business models and delight customers.

BFSI

Our Offerings for BFSI Players

BFSI
Platform Development
Create secured and user-friendly platforms to support complex financial operations across banking, investment, wealth management, asset management, and insurance
BFSI
Data Analytics
Extract valuable insights & patterns from vast amounts of financial & customer data for risk assessment, investment strategies, personalized services, and fraud detection
BFSI
Software Testing
Identify and fix the security vulnerabilities, performance issues, data integrity compromise areas, non-compliance of BFSI regulations to meet the highest quality standards
BFSI
Mobile App Development
Enable on-the-go financial services over user friendly mobile apps to access accounts, make transactions, access personal information, and receive alerts
BFSI
Artificial Intelligence
Build AI-powered virtual assistants for financial planning, NLP-driven chatbots for customer support, intelligent algorithms for fraud detection, risk assessment and accurate predictions
BFSI
Process Automation
Automate data entry, claims processing, invoice reconciliation, accounts payable & accounts receivables compliance reporting, customer query resolutions, and data transfer between systems
BFSI
Legacy Migration
Consolidate repeated solutions or sunset hard to maintain solutions or eliminate the technical debt through application and data portfolio rationalisation and recommending the best fit modern solution.
BFSI
API Management & 3rd Party Integrations
Facilitate integration with Open Banking APIs & Systems for efficient data exchange, enhanced collaboration, and the ability to leverage external services, expanding the capabilities
BFSI
Cloud Adoption
Design scalable cloud storage, disaster recovery solutions, backup multi-zone host mechanism for enabling BFSI applications and data accessible securely from anywhere
BFSI
Blockchain Audit Solutions
Build Hyperledger blockchain connected web applications for secured partner contracts, immutable log mechanism, decentralized payments & financial tracing information

Solutions we have delivered across BFSI Industry

PalTech has delivered the below core financial systems and customer self-support solutions for our BFSI industry clients to enhance their customer experiences, optimise operations, and drive business growth.

BFSI

Featured Insights

BFSI

BLOG

The ROI of Automation for Credit Unions

Automation is rapidly reshaping industries worldwide, and credit unions are no exception. In an increasingly competitive financial landscape, automation promises to streamline processes, reduce costs, and improve member experiences. The return on investment (ROI) from automation can be substantial, often translating into significant financial gains and improved service delivery.

7 minutes read | Feb 05, 2025

BFSI

TECHNOLOGY

Features Comparison: Playwright vs. Cypress

Cross-Browser Support Playwright: Supports a variety of browsers, such as Chromium, Firefox, and WebKit. This makes it ideal for comprehensive cross-browser testing, allowing teams to test on different platforms, including Safari and mobile browsers. Cypress: Primarily supports Chromium-based browsers (like Chrome and Edge), with only experimental support for Firefox and no support for WebKit or […]

4 minutes read | Jan 17, 2025

BFSI

TECHNOLOGY

Evolution of Deployments: From Physical Servers to Container Orchestration

In the swiftly evolving domain of IT, the journey from physical servers to advanced container orchestration has fundamentally reshaped our approach to software deployment and infrastructure management. This transformative progression addresses past limitations and ushers in new paradigms, redefining operational strategies and practices. Let us explore evolution of deployments and how these technological advancements have […]

6 minutes read | Dec 27, 2024

BFSI

TECHNOLOGY

Migrating from Legacy FCM APIs to HTTP v1 API

Introduction: Why the Migration is Essential?  Google Firebase is deprecating legacy Firebase Cloud Messaging (FCM) APIs, encouraging developers to migrate to the HTTP v1 API. This shift brings improved security, greater control, and enhanced capabilities. If your application relies on FCM APIs for messaging, and your deadline is over, we can reach out to Firebase […]

3 minutes read | Nov 01, 2024

Why Choose Us?

Up to 40% faster time- to-market using frameworks

Technical Debt & Product Scope Creep eliminated

Partnerships and Support plans with Cloud providers

Products backed by Solution Architect + Functional SME