One stock that falls into this category for Pavelec is Fiserv, which provides financial companies with information management tools for Internet commerce, back-office operations and transaction processing.
In the technology sector, that leads him to outsourcing providers like Affiliated Computer Services, which offers back-office systems integration and transaction processing.
Disciplined, standardized business processes, where appropriate, ensure the accuracy and security of core transactions and back-office processes.
The BPO segment, which generated 14.7% of revenues, utilizes similar methods to provide outsourcing solutions that handle critical middle and back-office functions such as processing transactions, claims and payments; servicing loans; and administrating policies.
BNY Mellon, like other trust and custody banks, manages cash for companies and handles back-office processing of securities and banking transactions for fund managers, among its other businesses.
Each bank designed and introduced its own credit cards, acquired and maintained its own customer relationships, and handled all the back-office processing for every credit card transaction (while relying on MasterCard and VISA to establish general protocols for those transactions).
By having a powerful platform to ensure efficient, high-quality transaction processing and back-office activities, management can stop firefighting and instead focus attention on innovation and customer intimacy.
Fidelity National is a leading provider of technology to banks, and its services and software handle credit card transactions, loan processing and back-office systems.
Financial firms have back-office functions that are there to confirm transactions are above board, but such is the volume that the only way they can keep up is with increasingly advanced technology.
Fiserv helps thousands of regional banks offer bill-paying and electronic-payment services, in addition to handling the back-office functions of credit- and debit-card transactions.
