Servosys Solutions | CASA & Digital Banking
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Current and Saving Accounts Customer Onboarding

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Project Overview

A fast growing and newly operationalized bank wanted to grow its customer base by bringing more customers on board through account opening services – Current Accounts and Saving Accounts. As the current accounts for that lender was good sources of profit margin, the lender approached Servosys Solution to streamline, fully digitized and paperless account opening processes.

The Challenges Faced Were

  • The number of new customer getting onboard per month was quite low as the bank was offering branch-based CASA (Current Account and Saving Accounts) opening services.
  • A very time consuming process was being followed to validate customer data and information.
  • The scanning, editing, storage of documents was manually being handled.
  • Information was being captured from the documents manually, no automatic mechanism for information capturing from e-document was there.
  • There were no mechanisms were in place to automatically deal with processes such as De-dupe check, AML check and other financial auditing.

Solutions Offered

  • A Tab/Mobile- enabled integrated platform allowed mobility and faster processing.
  • An automated system, same feet on street, enabled executives to streamline processes from document collection to customer profiling and the customer onboarding at their choice of location.
  • A high performance document management put in place to manage documents and read information from them.
  • Processes were made paperless by bringing automation integrated with document management system in place.
  • Automated De-dupe, AML check and other processing related to customer onboarding processes.

Major Benefits

  • Increase in margins as Current Accounts now form 70% share of its Liabilities.
  • Reached 1 million+ accounts within 18 months of banking operations.
  • Transactions increased 4 times within 18 months.