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Hostcomm's integrated CRM and hosted predictive dialler solution gives you a means to generate leads, win new business and deliver your service within FSA regulations. Unlike most other vertical sectors financial services is heavily regulated which can render a service provider uncompetitive due to the numerous 'hoops' it has to jump through. Using an integrated CRM and outbound call centre you can ensure that through clever workflow automation repetitive administrative tasks can be handled by the system within FSA rules. This will reduce or eradicate breaches, ensure that the cost of delivering your service is reduced and free up advisor time for selling.

The integrated service can handle the client interaction from start to finish, which is good news for the auditors. Here is an example workflow for a mortgage service sale:

  • A potential client fills in a web form which is automatically loaded onto the dialler database.
  • This 'lead' is called back 5 minutes later and qualified by the agent. The call is recorded.
  • Alternatively the dialler is loaded with raw data and a cold call is made to the potential client.
  • The potential client agrees to receive a loan application and introductory letter which are automatically sent once the agent sets the lead status (disposition code).
  • The client receives an automatically sent SMS text confirming that information is on its way and thanking them for their time.
  • The workflow engine sets a follow up call for 3 days time (unless the client calls in or the completed loan documents are received).
  • The client does not return the documents so a follow up call is automatically made which screen pops the client's CRM page.
  • An appointment is made and an appointment checklist is emailed to the client by the CRM system.
  • The Loan advisor places a call to the client using 'click to dial' on the CRM interface prior to the appointment. The call is recorded.
  • The client emails a scanned loan application to the CRM auto-doc loader address which sends an email confirming receipt.
  • The application is forwarded to the lender after being checked by the advisor.
  • The lender approves, the status is changed which flags the account for a follow up call to the client.
  • All information relating to the above transactions are stored on the client account, which the client has a login to.

Modern business processes are becoming increasingly complex, yet results have to be produced in shorter and shorter intervals. Thus, many insurance companies are working on implementing workflow management platforms in order to automate their business processes.

The automation of business processes has been an important topic in the financial services industry since the 1990s and is generally described by the term Straight-Through-Processing (STP).

Benefits of Workflow Automation:

  • Eliminates manual process steps and reduces cycle time.
  • Provides the simple, fast exchange of information you need for e-business processes and cuts down paperwork.
  • Distributes work according to business rules and ensures predictable handling of tasks.
  • Ensures a smooth flow of information throughout the organization.
  • Supplies performance metrics for continuous process improvement and simplifies status tracking.
  • Ensures the consistency of your business processes.
  • Actively monitors deadlines and permits exception handling.
  • Integrates and synchronizes cross-application processes.
  • Drives business applications.