Optimizing Efficiency, Reducing Overhead, Better Decisions
The past several years have been especially difficult for the financial marketplace due to changing economic conditions, security concerns and the increasing number of government and industry regulations.
More than ever, financial-services firms need to demonstrate the value of technology purchases, while reducing overhead and improving efficiency, accuracy and customer satisfaction and retention. And it’s not enough just to have access to individual elements of data about customers and transactions and policies and assets and debits—you also need to know how all the different pieces of information are related, which transactions should be considered routine and which transactions are suspicious or otherwise outside of normal limits.
The solution that can deliver the information executives need in the most cost-effective way—while meeting the combined challenges of understanding the data and the connections between multiple data sources, as well as distinguishing between normal and. abnormal transactions—must include all of the following functions:
- Information delivery
- Data access, analysis and visualization
- Rules technology
- Reporting
In addition to all of these functions, CA’s CleverPath family provides built-in templates, KPIs and business metrics. Because it is modular, CleverPath can be deployed when and where you need it, to address the problems of an individual business unit or across the enterprise. CleverPath addresses problems in functional areas like transaction processing, marketing, customer service and relationship management, claims processing, risk management, compliance, underwriting and fraud management.
CA customers have successfully deployed CleverPath to:
- Save $2 million (US dollars) per year in fraudulent insurance claims
- Automate 2500-3000 banking transactions per week
- Save $3 million per year in reporting, printing and mailing costs
- Reduce the underwriting process from several days to several minutes
- Predict risky investments with 95% accuracy
Example Case Studies
- A large commercial bank is using CleverPath to provide self-service banking for customers over the public Internet. Prior to implementing the CleverPath solution, customers were dissatisfied with the telephone-based customer service and there was a large issue backlog
- An auto insurance underwriting company uses CleverPath to provide instant assessment of insurance eligibility for customers. On the front end, CleverPath is the point-of-sale auto underwriting system. On the back-end, CleverPath instantly assesses insurance eligibility by applying the rules and processes for qualification. If the customer is approved, he/she gets an instant risk assessment and insurance quote.
- A credit union transformed themselves completely from a paper-based system to a totally automated web-based system for banking business as well as HR paperwork for hourly bank employees. This CleverPath-based solution has provided 100% uptime for nearly two years.
For more information about how Computer Associates’s (CA) CleverPath™ solutions can optimize your efficiency, reduce your overhead, improve your business decisions, and pay for themselves.
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