Financial Services
Leading private bank built wholesale portal, cutting onboarding TAT by 60%+
14 Apr 2023
Context- A
fast-growing private sector bank in India wanted to deliver a superior digital
experience by creating a DIY onboarding portal for wholesale banking customers
to streamline their mandate creation process
Our
approach
- Conducted
an end-to-end analysis of the manual onboarding journey and identified pain
points and improvement areas to make it more efficient
- Created
a custom-built DIY onboarding portal journey for wholesale banking clients to
enable end-to-end digital process across products and transaction channels
- Detailed
front-to-back ‘To-be’ information and process flow design and designed
wireframes of the entire journeys
- Identified
a suitable vendor for the development of the portal analyzing factors like cost, time to
market, reliability and vendor capabilities
- Created
and monitored a detailed implementation roadmap to ensure timely execution and
product launch
- Educated
internal and external users about the usage and benefits of the portal via trainings, product demo and self-serve
manuals
Praxis
value delivered
- Improved
customer experience
- Created
a DIY onboarding platform that streamlined the client onboarding process
achieving a >60% TAT reduction
- Lower
service and operational cost
- Improved
operating efficiency by eliminating manual onboarding processes, decreased
hand-offs, and reduced service costs through chatbot and push-based
notifications on the portal
- Improved
business engagement
- Personalized
interactions and holistic client engagement over the portal increased the
cross-sell opportunity
Do you want to turbocharge your business using digital technologies and processes? Write to us below.