Overview

We help banks, financial service providers and insurers in technology modernization and deliver the following

  • Personalized embedded digital customer experiences
  • Value added digital interactions with improved process efficiencies
  • New revenue opportunities with market and competitor differentiation

Challenges

B2B Payments

B2B payments are not simple payment processes anywhere, anytime and on any device, so disruptions occur when payments are missed.

Trade Financing Fraud

Anti-fraud gaps due to information silos are causing trade financing frauds and impacting banking and financial landscape.

Legacy Core Banking Systems

Traditional CBSs hinder operational transformation and limit adding new digital capabilities and innovations.

Post-Trade Processing

Not having integrated customer data results inaccessible to insights for improved BFSI customer experiences.

Regulatory Hurdles

Without digitized systems, BFSI organizations face regulatory hurdles when existing/new regulations are updated/introduced.

Underwriting Accuracy

The quality of underwriting impacts insurers’ loss rations, so they need to improve underwriting accuracy leveraging data.

Who we serve

At Wavelabs, we help Banks, NBFCs, Insurance, Financial Markets, FinTech, Credit Unions, Wealth & Asset Management, and Cards & Payments organizations in adopting feature rich business applications, infrastructure modernization, intelligent automation, data analytics, AI capabilities, AR/VR immersive customer experiences, IoT efficiencies etc.

What we serve

We help BFSI organizations with simple and Elegant UI/UX Designs for:

  • All-in-one consumer banking apps
  • Entire card management apps
  • Business banking apps
  • Digital Wallets

We help BFSI organizations with customer-centric product designs for:

  • Loan apps with smooth loan workflow
  • Card management apps with entire management workflows
  • Buy Now Pay Later (BNPL) platforms
  • Premium calculator and comparison workflows on insurer websites and marketplaces

Our Software Development services for BFSI include:

  • Banking Software – Core Banking, Mobile Banking, ATM & Self-Service Banking, Loan Management, etc.
  • Securities Trading and Digital Brokerage Platforms
  • Insurance Management Systems – Customer Relations, Policies and Claims, Agent, Quotes and Commission, etc.
  • New Age Apps with AI, ML, IoT and Blockchain capabilities

We help BFSI organizations in tech stack modernization with no impact on business as usual:

  • Actionable data migration plan
  • Retaining integrated workflows with APIs
  • Modernizing system’s architecture

We help BFSI organizations to implement below use cases using Cloud and DevOps:

  • Integrate fraud detection into banking systems
  • Sensitive Data Discovery
  • Improved Risk Modeling in Insurance and Banking

Data Engineering

We help BFSI organizations with the following:

  • Automated data sourcing of diverse datasets such as KYC, Trading, Forecasting, etc.
  • Data pipelines from disparate systems
  • Cloud-based data lakes and data warehouses

Big Data

We help BFSI organizations with the following:

  • Forecasting financial trends
  • Modeling risk estimations for credit scoring, financial transactions, claims processing, etc.
  • Life value prediction

Data Science

We help BFSI organizations with the following:

  • Customer segmentation and personalized banking and insurance services
  • Personalized discount offerings through cards
  • Effective investigation during claims processing

Business Intelligence

We help BFSI organizations with the following:

  • Customer intelligence for personalized offerings – loans, cards, etc.
  • Real-time stock insights
  • Insights on identifying processes to automate
  • Investment analysis and insights

Machine Learning

We help BFSI organizations with the following:

  • Insurance claims adjudication with image and video analysis
  • Facial recognition enabled digital payments
  • Alerting suspicious financial transaction with high precision

Deep Learning

We help BFSI organizations with the following:

  • Insurance claims adjudication with image and video analysis
  • Facial recognition enabled digital payments
  • Alerting suspicious financial transaction with high precision

NLP

We help BFSI organizations with the following:

  • Classifying and structuring banking, financial and insurance documents
  • Genetic algorithms and deep neural networks for credit risk
  • Preventing unauthorized transactions and identity theft

Computer Vision

We help BFSI organizations with the following:

  • Classifying and structuring banking, financial and insurance documents
  • Genetic algorithms and deep neural networks for credit risk
  • Preventing unauthorized transactions and identity theft

Chatbots

We help BFSI organizations with the following:

  • Self-learning chatbots for financial, trading, investment advice, etc.
  • Intelligent chatbots for payment processing, process claims, applications, etc.
  • Lead generation chatbots for loans, credit cards, etc.

We help BFSI organizations leverage Intelligent Automation for the following:

  • Automated customer onboarding, KYC, account opening/closure processing, etc.
  • Automated loan origination and document processing
  • Automated claim processing
  • Automated credit card application processing
  • Automated trade processing, Trade allocations, settlement and reconciliation

We help BFSI organizations leverage IoT for the following:

  • Alerting and reminders on financial transactions on wearables
  • Virtual piggy bank services
  • IoT enabled ATMs to identify usage patterns, malfunctions, cash shortages, etc.
  • IoT enabled monitoring for insured objects help in damage analysis and damage prevention

We help BFSI organizations leverage Blockchain for the following:

  • Decentralized cryptocurrencies and Decentralized finance in banking
  • Decentralized crypto hedge fund management
  • Tracking process and settlement global financial transactions
  • Decentralized records to buy or sell digital assets
  • Enabling P2P transfer globally

5G combined IoT enables telematics for Auto Insurance and telehealth for health insurance

5G and wireless networks enhances physical branch experience at banks

5G, high speed networks and edge computing enables real-time big data processing for banks, insurers, trading and finance companies.

5G enabled self-serving banking kiosks to facilitate banking services at remote locations.

We help BFSI organizations with simple and Elegant UI/UX Designs for:

  • All-in-one consumer banking apps
  • Entire card management apps
  • Business banking apps
  • Digital Wallets

We help BFSI organizations with customer-centric product designs for:

  • Loan apps with smooth loan workflow
  • Card management apps with entire management workflows
  • Buy Now Pay Later (BNPL) platforms
  • Premium calculator and comparison workflows on insurer websites and marketplaces

Our Software Development services for BFSI include:

  • Banking Software – Core Banking, Mobile Banking, ATM & Self-Service Banking, Loan Management, etc.
  • Securities Trading and Digital Brokerage Platforms
  • Insurance Management Systems – Customer Relations, Policies and Claims, Agent, Quotes and Commission, etc.
  • New Age Apps with AI, ML, IoT and Blockchain capabilities

We help BFSI organizations in tech stack modernization with no impact on business as usual:

  • Actionable data migration plan
  • Retaining integrated workflows with APIs
  • Modernizing system’s architecture

We help BFSI organizations to implement below use cases using Cloud and DevOps:

  • Integrate fraud detection into banking systems
  • Sensitive Data Discovery
  • Improved Risk Modeling in Insurance and Banking

Data Engineering

We help BFSI organizations with the following:

  • Automated data sourcing of diverse datasets such as KYC, Trading, Forecasting, etc.
  • Data pipelines from disparate systems
  • Cloud-based data lakes and data warehouses

Big Data

We help BFSI organizations with the following:

  • Forecasting financial trends
  • Modeling risk estimations for credit scoring, financial transactions, claims processing, etc.
  • Life value prediction

Data Science

We help BFSI organizations with the following:

  • Customer segmentation and personalized banking and insurance services
  • Personalized discount offerings through cards
  • Effective investigation during claims processing

Business Intelligence

We help BFSI organizations with the following:

  • Customer intelligence for personalized offerings – loans, cards, etc.
  • Real-time stock insights
  • Insights on identifying processes to automate
  • Investment analysis and insights

Machine Learning

We help BFSI organizations with the following:

  • Insurance claims adjudication with image and video analysis
  • Facial recognition enabled digital payments
  • Alerting suspicious financial transaction with high precision

Deep Learning

We help BFSI organizations with the following:

  • Insurance claims adjudication with image and video analysis
  • Facial recognition enabled digital payments
  • Alerting suspicious financial transaction with high precision

NLP

We help BFSI organizations with the following:

  • Classifying and structuring banking, financial and insurance documents
  • Genetic algorithms and deep neural networks for credit risk
  • Preventing unauthorized transactions and identity theft

Computer Vision

We help BFSI organizations with the following:

  • Classifying and structuring banking, financial and insurance documents
  • Genetic algorithms and deep neural networks for credit risk
  • Preventing unauthorized transactions and identity theft

Chatbots

We help BFSI organizations with the following:

  • Self-learning chatbots for financial, trading, investment advice, etc.
  • Intelligent chatbots for payment processing, process claims, applications, etc.
  • Lead generation chatbots for loans, credit cards, etc.

We help BFSI organizations leverage Intelligent Automation for the following:

  • Automated customer onboarding, KYC, account opening/closure processing, etc.
  • Automated loan origination and document processing
  • Automated claim processing
  • Automated credit card application processing
  • Automated trade processing, Trade allocations, settlement and reconciliation

We help BFSI organizations leverage IoT for the following:

  • Alerting and reminders on financial transactions on wearables
  • Virtual piggy bank services
  • IoT enabled ATMs to identify usage patterns, malfunctions, cash shortages, etc.
  • IoT enabled monitoring for insured objects help in damage analysis and damage prevention

We help BFSI organizations leverage Blockchain for the following:

  • Decentralized cryptocurrencies and Decentralized finance in banking
  • Decentralized crypto hedge fund management
  • Tracking process and settlement global financial transactions
  • Decentralized records to buy or sell digital assets
  • Enabling P2P transfer globally

5G combined IoT enables telematics for Auto Insurance and telehealth for health insurance

5G and wireless networks enhances physical branch experience at banks

5G, high speed networks and edge computing enables real-time big data processing for banks, insurers, trading and finance companies.

5G enabled self-serving banking kiosks to facilitate banking services at remote locations.

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