The client is one of the new-generation, fast-growing, and tech-savvy private-sector banks in India. They have a robust technology platform supporting multi-channel delivery capabilities. The client has received a series of accolades commencing with the prestigious award in the private and foreign bank category from the Indian Banks’ Association (IBA). They offer a new level of banking such as better services, a better understanding of unique needs, and better management of ﬁnances.
The client was looking for a solution to become customer-centric, scale up their operations, and at the same time maintain cost efﬁciencies and targeted service level. Some of the major challenges were as follows:
- High transaction volumes coupled with a high annual growth rate
- Multiple services across wide geography through separate operating models
- High Turn-Around-Time (TAT)
- Manual monitoring of operational metrics
- Signiﬁcant redundancies around data capture, work forwarding
- High cost of operations and nonstandard customer service
Newgen proposed a solution comprising its Business Process Management (BPM) suite – OmniFlow TM, Enterprise Content Management (ECM) suite – OmniDocsTM, and Centralized Bulk Scanning System – OmniScan TM. Newgen implemented the BPM and ECM suite to automate the Account Opening Process, Trade Finance Process, Accounts Payable Process, Insurance Processes, HR, and Employee Processes. The Account Opening Process was implemented in a record-breaking time of 3 months which involved setting up scanning HUB at 30 key locations and training and initiation from all 230+ branch networks.