Your BFSI Innovation with ALLSTARSIT
Bridging the Gap in BFSI Technology, One Expert Team at a Time
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At ALLSTARSIT, our suite of IT outstaffing solutions, including staff augmentation, dedicated teams, and EOR services, is meticulously designed to strengthen your BFSI technology capabilities. Choose the service that aligns with your vision and let us amplify your technological innovation journey.
At ALLSTARSIT, we understand the dynamic nature of your BFSI technology requirements. Our staff augmentation service offers you the flexibility to scale your tech workforce as your project demands evolve.
Swift access to seasoned tech specialists.
Flexibility to adjust team size based on evolving project needs.
Cost-effective alternative to full-time hiring and training.
On-demand expertise to tackle specific Ecommerce challenges.
Seamless integration with your existing workflows.
Our dedicated teams service offers a tailored approach for BFSI enterprises seeking comprehensive technology solutions. We assemble a team of expert tech professionals exclusively focused on your project needs.
Meticulously chosen team of tech virtuosos aligned with your project goals.
In-depth understanding of your technology requirements and challenges.
Continuous project monitoring, rapid issue detection, and responsive solutions.
Proactive technology planning and risk mitigation.
Long-term partnership and deep integration with your business ethos.
Navigating the complexities of hiring remote tech professionals across different jurisdictions can be challenging. We act as the legal employer for your remote tech team members, managing payroll, benefits, tax compliance, and administrative tasks.
Compliance with local employment regulations in different regions.
Streamlined onboarding of tech experts from diverse locations.
Simplified payroll management, tax withholdings, and benefits administration.
Risk reduction through legal compliance and minimizing potential liabilities.
Time and cost savings compared to establishing legal entities in multiple jurisdictions.
Uncover the potential efficiency gain for your BFSI operations with our intuitive calculator. Get a clear estimate tailored to your technology needs and make informed decisions to optimize your technology capabilities.
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19 years of dedicated service in IT outstaffing for Ecommerce
Trusted by 100+ major tech companies, including leading online retailers
Over 1000 employees professionals spanning the globe
Strategically located IT expertise centers for tailored solutions
Notable 90% client retention rate reflects consistent value
Access to a global talent pool reduces implementation timelines
Worldwide coverage across all time zones for seamless partnership
Competent back-office team ensuring streamlined project management
Personalized Relationship Managers for each project
Transparent reporting to keep you informed of advancements
Comprehensive solutions to enhance your Ecommerce technology capabilities
Acknowledged industry as Best Employer, Friendly Workplace, and Top IT Consultancy
When you outsource BFSI functions, you may cede some control to a third-party vendor. While they may be experts, their procedures and processes might not be perfectly aligned with your organization's regulatory requirements and business goals.
With outstaffing, you have greater control over your BFSI operations, as you can directly manage financial and operational experts. This allows you to retain ownership of your business policies, data, and systems, ensuring they align with your industry-specific needs and regulatory standards.
Outsourcing often provides standardized solutions, which may not fully cater to the unique demands of the BFSI industry. These off-the-shelf solutions might lack the specificity required for comprehensive financial services in a complex environment.
Outstaffing allows for a high degree of customization. You can build a dedicated team of BFSI professionals who are aligned with your industry's culture and objectives, ensuring that your financial services are tailored to meet the unique demands of your customers.
Outsourced BFSI services might have response time limitations, as they serve multiple clients. This could lead to delays in adapting to regulatory changes or addressing operational issues in a timely manner.
With in-house or outstaffed BFSI experts, you can enjoy faster response times in the event of operational issues or regulatory changes. Your team is on-site or readily available to address challenges promptly, ensuring compliance and efficient operations.
An outsourced team may encounter challenges when integrating with your existing systems, potentially causing operational friction and compatibility issues in the highly regulated BFSI sector.
In-house or outstaffed BFSI experts can seamlessly integrate with your existing financial systems, making it easier to implement and maintain industry-specific policies and practices that align with your technology infrastructure.
Outsourcing in the BFSI industry often involves fixed or variable costs, which can be less predictable. This may lead to unexpected expenses, particularly when responding to regulatory changes or expanding service offerings.
While outstaffing BFSI experts may appear more expensive initially, it offers better cost control in the long term. You can allocate resources as needed and directly manage costs, optimizing your investment in compliance, risk management, and customer service.
“Recently we recruited a Polish team with the help of ALLSTARSIT. We are very pleased with the recruitment process. How we work together as a team is very important for us going forward. We are setting the roads for the subsequent recruitment and hoping to keep recruiting such great-level professionals with ALLSTARSIT.”
Yaniv Mazor
R&D Group Leader at Yotpo
"Opening to ALLSTARSIT revealed that the Polish market has an excellent talent pool, and we get outstanding candidates who precisely fit our needs, which is impressive. Our partnership is a great success. It increased our velocity of hiring above our expectations."
Assaf Liebstein
Data Platform Team Leader at Yotpo
“For us, ALLSTARSIT team members are full-right members of our team, which is why we needed to find the right fit. What we love about ALLSTARSIT team is how fast they act. For us, it is very important, and this is exactly how we work. Of course, we can make mistakes, but what matters to us is how fast we can fix them. With ALLSTARSIT we are counting that in minutes.”
Mirit Valenci Nakash
Chief People Officer at Juganu
“For over five years now, we have enjoyed a successful partnership with ALLSTARSIT, and my impression is that they are a team of excellent individuals who foster a great working environment. Despite having team members located in different countries, our collaboration has always been seamless, without any hiccups or issues. ALLSTARSIT has demonstrated an outstanding commitment to the welfare and security of its employees.”
Yechiel Portal
Head of Release and Support at Netafim
“ALLSTARSIT helped us build the entire team, and recruit high-quality candidates. The process of filtering and interviewing was really successful. They take care of the day-to-day welfare of our employees, and we feel that this is done well, both from the feedback we’re getting and what we see. The peace of mind that we have that the team is in good hands is very precious for us.”
Ron Liberman
Co-Founder & VP R&D at Authomize
“We are super happy with our cooperation with ALLSTARSIT. It’s always a dynamic and positive relationship. Their results are impressive and delivered timely. We have become more than just colleagues — we keep our communication informal and can discuss not only work, but anything else. Our cooperation is both productive and fun, and we hope to keep it this way and grow together.”
Boaz Jacobi
CEO of Motiv8AI
“We needed engineers with knowledge of JavaScript and good communication skills, and ALLSTARSIT has met our requirements and recruited an effective remote team. They have also helped us employ the engineers and handle the ongoing management.
ALLSTARSIT works efficiently with us and listens to feedback, which has helped us have a fluent process. We have open communication with them.”
Eli Zakashansky
Software Development Group Leader
“Imagry is a software provider for autonomous vehicle. I worked with ALLSTARSIT at least ten years ago even with my previous company. They are very professional in terms of recruiting and retaining the employee, which is very important.
The recruitment is always with a nice attitude to the candidates and all the employees are telling me only good stuff about ALLSTARSIT and the way they treat their employees, the way they maintain their motivation and the way they retain the employees themselves.
The recruitment team of ALLSTARSIT managed to recruit around 20 engineers in about two months, which is very fast.
We are planning to increase the team to be around 40 in 2024 and 2025 even more.”
Lior Margalit
VP R&D at Imagry
BFSI business process outsourcing is a highly specialised recruitment strategy used by banking, insurance, and lending institutions to facilitate business acquisition and account servicing activities associated with the customer lending life cycle.BFSI outsourcing involves delegating services or tasks typically managed within financial institutions to third-party providers with the help of recruitment and staffing intermediaries like ALLSTARSIT. Using banking BPO services is a strategic approach that helps support industry expansion and optimise account servicing functions.BFSI customer service staffing is a strategic way for organisations to provide better service and improve customer experience (CX), increase industry operational efficiency, reduce costs, and gain a competitive advantage. In the banking, financial services, and insurance industry (BFSI), outsourcing also allows the industry to leverage the knowledge and experience of financial accounting outsourcing services to improve customer service and other services. By using staffing services, they can also focus on strengthening their core banking business.
Staffing for BFSI is carried out by an external supplier rather than one of the employees. So, when using bookkeeping outsourcing, you pay an outside banking specialist, accountant, or accounting firm to handle your accounts rather than staffing an accountant to draw your payroll or handle the accounts yourself.
Several types of banking staffing and recruitment have become incredibly common.
IT specialists outsourcing (ITO) is an external service provider that takes responsibility for managing the financial applications of a BFSI institution. Headhunters are looking for server management and infrastructure solutions, network administration, isolated cloud centres, and software development specialists in the industry. Finance and accounting outsourcing companies usually help BFSI in ITO implementation to save time and money while providing flexibility in terms of financial data storage, product offerings, and speed of service.
Another common type of banking staffing is business process outsourcing (BPO). Bank BPO is an established methodology for reducing inefficient internal operational processes and instead engaging in banking outsourcing services to manage all BFSI business processes such as accounting, insurance, financial, customer service, or human resources. Financial BPO offers a compelling business proposition regarding increased operational efficiencies and cost reductions and is independent of economic cycles.
A new trend in financial outsourcing solutions in the banking industry is the relatively new concept of "full product outsourcing." In many cases, full-fledged product outsourcing is product development, operations, compliance, regulatory infrastructure, and IT to a third party. At the same time, the BFSI institution retains ownership of tasks and instead focuses its time on customer interactions and its balance sheet.
This banking services outsourcing trend allows the BFSI industry to gain a competitive advantage and establish lean and flexible operations across the entire value chain to deliver products and services faster and cheaper.
BFSI (banking, financial, and insurance) outsourcing refers to contracting out standard business functions to be performed by a party outside the company.
Banking BPO professionals can provide this support due to their deep understanding of organisational processes and solutions, similar to most BFSI companies.
The most common BPO services and functions are:
By outsourcing a specialised banking task, such as payroll, to a specialised BPO company, BFSI organisations can save money and time. Some banking institutions even use outsourced CFO services.
In times of rapid technological advancement and changing consumer expectations, the BFSI is undergoing an unprecedented metamorphosis. As the digital era dawns, BFSI must be more flexible, innovative, and customer-centric. At the core of BFSI industry transformation is the workforce that fuels the industry.
With customers demanding a seamless digital experience, the role of the digital product manager is becoming critical. This role requires IT specialists skills, UX/UI knowledge, and a deep understanding of customer behaviour in the BFSI segment. ALLSTARSIT headhunters are in constant search for the best IT specialists.
In the era of big data, the BFSI industry is sitting on a gold mine. Data scientists and analysts play a crucial role in identifying meaningful patterns, from analysing customer financial information to detecting fraud.
As the industry of cryptocurrencies gains acceptance and broader applications of blockchain technology are realised in BFSI, the need for experts in the field will only grow in the banking industry.
In an industry of evolving financial regulation, ALLSTARSIT professionals will play a crucial role in ensuring compliance when using technology.
As digital transactions grow, protecting sensitive financial data from hacks has become a top priority in the BFSI industry. Cybersecurity experts with advanced IT skills recruited by ALLSTARSIT will be the guardians of this digital era.
You can gain a lot by outsourcing your accounting function in BFSI.
This is usually the biggest attraction of BFSI services outsourcing. If you have a small team that does its bookkeeping, outsourcing the financial work to another firm is a good solution that frees you up to spend more time growing the business. And if you're a larger BFSI company, it can save you the time it takes to hire, train, develop, and manage an internal accountants team.
Finance and accounting outsourcing is often cheaper than having a full-fledged in-house department. You save on employee-related costs such as national insurance and pension contributions, benefits, and training. You also save on overhead costs because you won't have to worry about providing accounting software, equipment, and office supplies. If you use an overseas supplier, labour costs and exchange rates may work in your favour.
The accounting industry naturally does accounting. As specialists, they can provide a much more skilled and efficient service than those for whom accounting is not their primary role. They bring a wealth of financial knowledge and practical experience that adds significant value, whether simply the time it takes to complete reports or the additional information they can provide.
BFSI outsourcing also dramatically reduces the risk of making a costly financial mistake or choosing the wrong employee. And it can give you access to top talent that would otherwise be unavailable.
There are many solutions in which BFSI outsourcing can make your business more efficient and productive. Suppose you outsource financial accounting services to the ALLSTARSIT financial team. In that case, you will benefit from business continuity benefits as you will never have to worry about vacation or sick leave affecting your work.
Additionally, most finance outsourcing companies, including ALLSTARSIT are also up to date with the latest BFSI standards and technologies. They're happy to help in recruitment, following your processes, and working as part of your team. BFSI Staffing companies implement new technology processes to improve service levels, reduce costs, and make you more competitive, creating growth opportunities you might otherwise receive.
ALLSTARSIT can even offer additional services, such as assistance with strategic planning and meeting your standard requirements.
Ready to embark on the next phase of enhancing your BFSI technology? Kindly complete the form, and our specialists will be in touch promptly.
