Organizations today face a significant challenge of transforming their business models and switching from legacy technology-driven systems to meet the diverse demands of the new era in payment processes and operations. Historically, payment processes have been labor-intensive and yielded poor results. Traditional collections and reconciliations involve longer life cycles, low ROI, and ever-increasing frustration between the multiple calls made to customers, the return calls with long holds, and the back-and-forth exchange of documents and payment negotiations. Due to increasing competition and digitization, organizations today realize the necessity of an agile process and modernization towards Payments to add value. Virtusa’s payment process and operation services combine the strategic vision and a thoughtful approach towards providing a smooth, cost-effective, and flexible process to manage payments and operations.
Virtusa's distinguished KPO services and innovative technology combine decades of industry-specific experience with leading-edge functionality that maximize insight, streamline efficiency, and boost profitability.
Our solutions include:
- KYC reconciliation – fast-tracking banks and financial institutions KYC reconciliation processes and updating relevant policies.
- Dispute management - help businesses refine customer communication by resolving issues and disputes and offering various customer-oriented feedback.
- Issue resolutions – assist companies in understanding their issues and develop practical solutions through targeted guidance.
- Payments and invoice verifications – add more control over internal processing functions with tracking functionality and improve the processing speed of vendor payments and invoices.
- Cards and rewards points – formulate and develop point-based customer loyalty programs, engagement, and referral/reward programs to keep valued customers happy and satisfied.
- Gift cards and deals management – manage all gift cards and deal programs, including production, customer service, fraud control, and compliance.