Fintechs

Fintech Outsourcing Philippines: Cynergy BPO – Next-Level Front and Back-Office Customer Support

As the fintech sector continues its rapid evolution, companies are facing increased pressure to provide seamless, efficient customer support while managing the complexities of both front and back-office operations. For fintech companies in markets like the US, Canada, Australia, and the UK, outsourcing these critical functions to the Philippines has emerged as a strategic solution for maintaining competitiveness. Cynergy BPO, a leading outsourcing advisory firm, connects fintech companies with award-winning BPO providers in the Philippines, offering comprehensive customer support that takes front and back-office operations to the next level.

The Importance of Front-Office Support in Fintech

Customer experience is paramount in financial technology, where trust, security, and efficiency are non-negotiable. With consumers increasingly relying on digital financial services, fintechs must ensure that every customer interaction is handled with precision. From account management and loan applications to payment disputes and fraud detection, front-office operations are often the first point of contact between fintech companies and their customers. Ensuring that these interactions are seamless, efficient, and secure is key to maintaining customer loyalty.

Cynergy BPO works with fintech firms to connect them with outsourcing providers in the Philippines that excel in delivering customer-centric front-office support. With a highly-skilled, English-speaking workforce, the Philippines is well-known for its exceptional customer service culture. Contact centers in the country are adept at handling complex customer queries, managing sensitive financial data, and ensuring that fintech companies can deliver personalized, secure, and efficient support across all touchpoints—whether via voice, chat, or email.

Streamlining Back-Office Operations for Fintech Firms

While front-office operations are critical to maintaining customer satisfaction, back-office support plays an equally important role in ensuring the smooth functioning of fintech companies. Functions like payment processing, reconciliation, fraud detection, regulatory reporting, and compliance management are integral to the fintech industry. However, these processes are resource-intensive and can divert attention from core business objectives.

Outsourcing back-office functions to the Philippines allows fintechs to focus on their core offerings—such as product development and innovation—while leaving the operational intricacies to experts. Cynergy BPO partners with industry-leading BPO providers that specialize in back-office solutions tailored to the unique needs of fintech companies. By automating processes, improving accuracy, and ensuring compliance with local and international regulations, these providers help fintech firms streamline their operations and reduce costs, all while maintaining operational integrity.

The Cynergy BPO Advantage: Tailored Solutions for Fintech

Cynergy BPO offers fintech companies a unique advantage by providing no-cost, high-impact advisory services. The consultancy works closely with fintech firms to understand their specific operational challenges and customer service needs, and then matches them with the right BPO providers in the Philippines. These providers are equipped with cutting-edge technologies, such as AI-driven automation, advanced data analytics, and real-time fraud detection systems, ensuring that fintech companies can offer world-class customer support while maintaining the highest standards of security and efficiency.

In addition to providing expertise in both front and back-office functions, Cynergy BPO’s network of partners brings deep domain knowledge of the fintech landscape, allowing them to handle everything from high-volume customer interactions to complex back-office processes with ease. This end-to-end support ensures that fintech companies can scale their operations without compromising on service quality or compliance.

Why the Philippines?

The Philippines has long been recognized as a global leader in business process outsourcing, particularly in customer service and financial services support. The country’s BPO providers are known for their cultural alignment with Western markets, proficiency in English, and deep understanding of the financial services sector. These attributes make the Philippines an ideal outsourcing destination for fintech companies looking to enhance both front and back-office support.

By partnering with Cynergy BPO, fintech enterprises can tap into the Philippines’ rich talent pool and advanced technological infrastructure, ensuring they have the tools and support they need to succeed in a fast-paced, highly competitive industry. Whether it’s delivering personalized customer experiences or automating back-office processes, the Philippines offers fintech firms a cost-effective and scalable solution to meet their operational goals.

The Future of Fintech Outsourcing

As the industry continues to grow and evolve, the need for scalable, efficient, and customer-centric support solutions will only increase. Fintech players must remain agile, ensuring they can handle growing customer demands while maintaining operational efficiency and regulatory compliance. Cynergy BPO’s expertise in fintech outsourcing positions it as a key partner for companies looking to thrive in this dynamic landscape.

With its deep industry experience, no-cost advisory services, and partnerships with 28 of the Philippines’ leading BPO providers, the advisory firm offers fintech companies the tailored solutions they need to elevate their front and back-office operations. By outsourcing to the Philippines, fintech companies can not only enhance their customer support capabilities but also streamline back-office processes, driving growth and innovation in a rapidly changing market.

For financial technology companies looking to take their customer support to the next level, Cynergy BPO provides the expertise, partnerships, and technology needed to succeed in the fintech business process outsourcing (BPO) landscape in the Philippines.

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Equasens: 2024 half-year results

2024-09-27T16:00:00Z

Villers-lès-Nancy, 27 September 2024 - 6:00 p.m. (CET)

PRESS RELEASE

2024 half-year results

  • Group results impacted by weaker economic conditions and continuing investment efforts in H1:
    • Revenue: €108.0m, -4.1%
    • Current Operating Income: €20.9m, -24.1%
  • Net Profit attributable to the Group: €17.2m, -21.8%
  • Though with a profit margin that continues to be very positive:
    • Ratio of Current Operating Income (COI) to Sales: 19.3% on a reported basis and 20.0% like-for-like
H1 RESULTS (€M)2023
reported basis
2024
reported basis
Change / Reported basisExternal growthChange / Like-for-like basis
Revenue112.6108.0-4.6-4.1%-3.7-8.3-7.4%
Current operating income (COI)27.520.9-6.6-24.1%0.0-6.7-24.3%
Net Profit22.918.1-4.8-21.0%0.0-4.8-21.1%
Net Profit attributable to the Group22.017.2-4.8-21.8%   

The financial statements for the six-month period ended 30 June 2024 were reviewed and adopted by EQUASENS' Board of Directors, chaired by Thierry Chapusot, on 27 September 2024. These interim consolidated financial statements were subject to a limited review by the Statutory Auditors.

_____

Results at 30 June 2024

H1 Current Operating Income / Division2023
reported basis
2024
reported basis
Change / Reported basisExternal growthChange / Like-for-like basis
Pharmagest18.414.1-4.3-23.5%-0.1-4.4-24.0%
Axigate Link4.64.4-0.2-4.9% -0.2-4.9%
e-Connect3.62.5-1.1-29.9% -1.1-29.9%
Medical Solutions1.30.0-1.3-100.0%0.1-1.2-92.5%
Fintech-0.4-0.10.369.3% 0.3-69.3%
Current Operating Income27.520.9-6.6-24.1%0.0-6.7-24.3%
  • PHARMAGEST division: a contraction in earnings reflecting lower sales and reinforced teams in Europe (COI/Sales: 17.2%)

The decline in the Division's operating income is mainly attributable to a reduction in sales in France in the configuration and hardware segment. In a persistently challenging economic environment, the Division continued to focus its commercial strategy on acquiring new customers and regularly rolling out new software and hardware solutions.
Despite this, recurring revenues were bolstered by the combined contribution of new SaaS offerings and contract indexation.
To accelerate the deployment of solutions in Europe, the R&D and sales teams continued to be strengthened.

  • AXIGATE LINK division: the profit margin remains high (COI/Sales: 28.6%)

Strategic investments to support the roll-out of SaaS solutions such as TitanLink for Nursing Homes in Europe, and the extension of homecare services, have temporarily weighed on the Division's results.

  • E-CONNECT division: current operating income declined in response to lower sales (COI/Sales: 45.4%)

As previously reported, H1 2023 sales and earnings were boosted by the announced discontinuation of sales of Application Reader Terminals.
The downturn in business in the first half of 2024 thus reflected the corresponding decline in sales.
Despite this unfavourable environment, the Division demonstrated its ability to adapt by maintaining a healthy profit margin based on tight cost controls.

  • MEDICAL SOLUTIONS division: a year of transition between the Ségur digital healthcare investment programme and a new software solution (COI/Sales: -)

Preparations for the Division's future involving the development of a new software platform and optimising the sales organisation led to significant investments which, in conjunction with lower sales following the end of the Ségur programme roll-out, weighed on the Division's results. Recurring revenues rose 13.7%, resulting in a gross margin of 72.8%.

  • FINTECH division: efforts to stabilise the business paid off in H1, with an improvement in earnings of €0.3m (COI/Sales: -)

Consolidated balance sheet highlights

  • Cash flow after interest and tax maintained a positive trend at €20.8m.
  • Financial investments, through acquisitions as well as capital expenditures, in particular for the EQUASENS private healthcare cloud, continued, with more than €16.0m committed in H1.
  • The net financial surplus at 30/06/2024 of €87.9m takes into account a change in presentation of IFRS 16 lease liabilities and put options for minority shareholders of €10.8m (recognised under other liabilities versus financial liabilities previously).

2024 outlook

  • The Group maintains its forecast for a return to revenue growth starting in the second half of 2024, and an acceleration in 2025 driven by current investments and an economic climate that looks set to improve, particularly for pharmacies in France.
  • The Group will continue to invest in R&D, infrastructure and sales forces in France and Europe in the second half of 2024. And while this will have a temporary impact on profitability in 2024, it should generate a return on investment from 2025 onwards.
  • With a strategy focused on patients and interoperability, the Group is ideally positioned to seize opportunities for external growth in France and Europe.

Financial calendar:

  • 1 October 2024: Presentation of H1 2024 results
  • 7 November 2024: Publication of Q3 2024 revenue
  • 6 February 2025: Publication of f Q4/FY 2024 revenue

About Group Equasens

With more than 1,300 employees, Equasens Group is today a key player in the European healthcare sector, providing software and hardware solutions to all healthcare professionals (pharmacists, primary care practitioners, hospitals, hospital-at-home programmes, retirement homes, health centres) in both primary and secondary care sectors.

With operations in in France, Germany, Great Britain, Belgium, Ireland, Italy, and Luxembourg, Equasens Group today brings together healthcare professionals within a unique ecosystem in France and Europe benefiting people by making available the very best of technology.

Listed on Euronext Paris™ - Compartment B

Indexes: MSCI GLOBAL SMALL CAP - GAÏA Index 2020 - CAC® SMALL and CAC® All-Tradable
Included in the Euronext Tech Leaders segment and the European Rising Tech label

Eligible for the Deferred Settlement Service (“Service à Réglement Différé” - SRD) and equity savings accounts invested in small and mid caps (PEA-PME).
ISIN: FR 0012882389 – Ticker Code: EQS

Get all the news about Equasens Group www.equasens.com and on LinkedIn

CONTACTS

Analyst and Investor Relations:
Chief Administrative and Financial Officer: Frédérique Schmidt
Tel: +33 (0)3 83 15 90 67 - [email protected]

Financial communication agency:
FIN’EXTENSO - Isabelle Aprile

Tel.: +33 (0)6 17 38 61 78 - [email protected]

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