 By Matías De Zan, Senior Teams Management at Xtendo Group |
In today’s dynamic financial world, Banks and Fintech face the challenge of providing high-quality and secure services to their customers, while adapting to the growing demand for remote work.
To achieve these goals, many of these institutions are turning to Business Process Outsourcing (BPO) and adopting security measures such as the Payment Card Industry Data Security Standard (PCI DSS). In this article, we will explore the benefits of BPO and how the implementation of the PCI DSS standard in remote work can offer a Remote and Secure Contact Center that meets the needs of Banks and Fintech.
Boosting Operational Efficiency
BPO has proven to be a valuable tool for financial institutions as it allows them to outsource certain functions and processes, including customer support and sales services. This allows Banks and Fintech to focus on their core competencies while benefiting from the expertise and resources of a specialized BPO provider.
1. Cost Reduction: Outsourcing contact center functions can result in a decrease in operating costs, such as infrastructure, equipment and personnel expenses. By removing these burdens, institutions can allocate resources to other strategic areas.
2. Flexibility and Scalability: With BPO, Banks and Fintech can easily adjust customer support capacity according to fluctuating demand. This ensures that there are enough agents to serve customers during peak activity without incurring additional costs in quieter periods, whether it’s inbound or outbound sales campaigns.
3. Access to Expertise: By relying on an experienced BPO provider, financial institutions can access trained professionals with specialized knowledge in the field of customer service and sales, which improves the quality of interactions.
4. Focus on Core Business: By outsourcing non-core tasks, Banks and Fintech can focus on activities that generate greater added value for their business, such as innovation and product development.
Implementation of the PCI DSS Standard: Security in the Sale of Intangible Products
The security of customer data is an unavoidable priority for financial institutions when selling intangible products, such as life insurance and banking services. This is where the Payment Card Industry Data Security Standard (PCI DSS) comes in.
1. Sensitive Data Protection: The implementation of the PCI DSS standard ensures that credit card data and other personal customer information is protected and ensures that contact center agents comply with security regulations.
2. Fraud Risk Reduction: The PCI DSS standard establishes security measures to detect and prevent fraud related to credit card data, increasing customer confidence in the company.
3. Compliance with International Standards: Complying with PCI DSS not only protects customers, but also helps financial institutions comply with international data security standards, which strengthens their reputation in the market.
Some technical guidelines that should be used to maximize information security.
1. Create and maintain secure systems and networks: Install and maintain a firewall configuration to protect cardholder data. Do not use vendor-supplied defaults for system passwords and other security settings. All passwords must be complete and secure with special characters, and maintain periodicity in the update.
2. Maintain a vulnerability management program: Protect all systems against malware and update antivirus programs or software regularly. Develop and maintain secure systems and applications.
3. Maintain an information security policy: Maintain a policy and processes that address information security for all staff.
4. Cybersecurity Tools: It is essential to have a firewall to meet this requirement as it will be the tool with the ability to inspect and compare your network traffic according to a set of configured rules.
For example, your firewall should limit traffic to only known services and ports. This way you will have a shield to protect all systems that transmit, process and / or store cardholder data.
This is possible, having correctly configured a VPN (Virtual Private Network), which secures information from end to end, to mitigate all types of cyber attacks.
In summary, the Remote and Secure Contact Center for Banks and Fintech is an achievable reality through Business Process Outsourcing and the implementation of the PCI DSS standard. By outsourcing non-core tasks and ensuring customer data protection, financial institutions can deliver an exceptional experience to their customers while optimizing their operational efficiency and security. With this strategy, Banks and Fintech are positioned to thrive in today’s competitive and challenging financial environment.
