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Building Resilience & Agility in Financial Services

3 minute read, posted on 01/09/2025, by David Holton

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How do you create more resilience and growth in your business — at the same time? This is a question that many financial service startups have been asking for several years. Is it even an achievable ambition? 

The emergence of financial technologies (fintech) has led to new brands entering the financial service sector with a wide variety of services that go beyond traditional banking and insurance. Once these brands move beyond their initial phase, how do they manage risk and resilience? 

The usual answer is to bring in some outside expertise. Services such as customer onboarding, customer service, and compliance can be agreed with specialist providers. Bringing in these experts immediately creates a robust framework of compliance around all the client-facing processes and therefore helps to reduce risk. 

But sometimes there is an increased business risk because of the chosen supplier. 

In the past year and a half, the top six major business process outsourcing (BPO) brands globally have become the top three. Clients of all these companies have expressed dissatisfaction as they slide down the scale of “most important client.” 

Fast growing and innovative financial service companies really need to work with a partner that will respond in an agile way to their needs. Or, to put it another way, a partner that appreciates how they need to keep moving and changing just to survive. 

Greater diversity in your choice of suppliers is not just a social imperative — something that is great for the communities where your suppliers operate — but it is a business imperative that helps to reduce risk. You should either identify a partner that is mid-market and able to flex and grow with you or, if you already have a contract with a major BPO, then bring a flexible additional partner on board. 

Look at the VXI Impact Hub initiative for insight into what is possible. 

This is not just about hiring a BPO or a contact center. Our Impact Hubs are making a huge difference in the communities where they are located. This leads to a diverse team that is truly focused on success. They know the value of this business in their community, and they will do their best to make it work. They are hungry to succeed. 

Financial services brands ranging from startups to mid-market need this intense focus on customer success. What you don’t need is a BPO telling you what customers are going to expect five years in the future and then designing a service level agreement that sets this in stone. 

Our Impact Hubs promote diversity. They are social initiatives and community focused. It is because of this that they are also so good at what they do. The people who work in these teams deliver the best customer experience because they are fired up by success. 

If you are thinking about how to increase the diversity of your team, or how to increase the resilience of your customer service and back-office operation, or just how to reduce risk in your supplier community, then take a look at the VXI Impact Hubs.  

They offer a compelling vision of how a supplier can not only be more socially responsible but can help you to be more innovative and ready to react to fast-moving financial service trends. 

For more information on purpose-driven outsourcing at VXI please click here. 

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