The ABC of Smart Supervision and how to implement it in your financial institution
Digital transformation is today a “must” in every company. With it came understanding the customer through data. This made it more clear than ever that people are at the center of the company and that customer experience is key to business growth.
This transformation had been happening some years ago at a rapid and constant pace. In 2020, with the start of the pandemic, the digitalization process we are currently in accelerated to such a scale that what would normally have taken 3 years was implemented in 40 days. Governments, entities, universities, companies, entrepreneurs and individuals interact every day with new tools and generate digital capabilities quickly.
In this process, Smartsupervision of the Financial Superintendency (SIF) was born, as a way for financial companies to take advantage of this digital transformation.
What is Smart Supervision?
La Circular 023 of 2021 consists mainly of migrating all information to Smartsupervision technology. This will provide adequate monitoring of the process of dealing with and reporting information related to the management of complaints or complaints by supervised entities.
To put it in easier words, it is the mechanism provided by the SIF to monitor in detail the PQRs provided by users in the financial sector. This in order to be answered in the right time and in the right way.
This circular orders to standardize “the classification structure of the reasons for complaints or complaints by product and industry, and implements a technological development called Smartsupervision”.
Why is its implementation important?
Currently, only 8% of financial sector complaints are monitored. The idea of this technology is to focus on the Superfinance function through Artificial Intelligence and an exhaustive analysis of the data.
It is important to highlight that, by the end of June 2022, all entities supervised by the SuperFinancier must implement and operate the entire Smartsupervision process. Failure to comply with this circular by June 30, 2022, will result in reprimands and sanctions.
How can we help you from Bidda?
Bidda, as a specialist in Customer Experience, understood the requirement and developed a system that allows financial institutions to carry out these PQRs properly and to report properly to the SuperFinancier, complying with the requirements of circular 023.
Smartcatch by Bidda was born as a solution to Smartsupervision. This is a tool that streamlines customer service in entities, without adding processes and using each entity's own platforms. This, in the end, translates into a shorter resolution time for PQRs for the user and the Superfinancier.
Today, Bidda is certified by the SuperFinancier to carry out this process successfully in supervised financial institutions.