Workflows, Document Management and Decision Support for Banks!
Banks have been a key customer segment for SP and eDGEVANTAGE over the last 10 years. Over the last 3 years we have grown from servicing One Bank in Sri Lanka to servicing Five.
This case study allows us to show case the different Focuses and the Thrust of each solution provided to the Banks we work with. This is an integral part of the value add we deliver to our clients through eDGEVANTAGE.
The Banking Industry in Sri Lanka
The Banking Industry in Sri Lanka is a mature industry, with most Commercial Banks offering the same range of products. There is fierce competition between Commercial Banks to differentiate themselves through service delivery and customer experience.
Therefore Banks need tools that help them monitor the service they deliver to customers. This is where eDGEVANTAGE fits in.
|Clients||Commercial Banks in Sri Lanka|
|Solution Designers||Jehan Bastians
5 Banks - 5 Different Requirements
The flexibility of the eDGEVANTAGE solution can be best articulated based on the different solution provided to the Five Commercial Banks we currently support in Sri Lanka.
Standard Chartered Bank – The requirement was to manage customer requests received at the bank and improve the responsiveness of the bank to customer requests by improving Turn-Around times, and to improve visibility of the requests and see where they were pending and how long each team took in processing these requests
Union bank – The Bank has over 60 branches and since the re-launch of the bank and the brand in 2015 there has been a move towards increasing the scope of operations. This required the Bank to manage hard copy documents faster and more efficiently.
Seylan Bank – The main thrust of the requirement at Seylan Bank was to help the bank improve its card and loan delivery, as well as several other requests such as cheque books. There were also several specific requirements to deliver;
- A complaint management system which enabled all staff to be able to contribute towards the gathering and resolution of issues customers faced with the Bank
A lead management system that allows the Bank to Track and Convert the large volume of leads generated from within its own Network.
DFCC Bank – The requirement was to deliver a front-end platform which would help the Bank track and manage customer requests from its 100+ Branch Network and to provide visibility and control to the Central Processing Teams and to have same linked closely with its Core platform
Pan Asia Bank – To automate the Processes the Bank uses to manage customer requests and to deliver the Bank’s services to customers faster.
It will be a game changer for Seylan Bank
The ability to see customer applications, the ability to track the progress of applications within our process, and the enhanced visibility for managers to view these on graphical dashboards
Solutions delivered via eDGEVANTAGE
One platform – many solutions. The flexibility of the eDGEVANTAGE platform is highlighted in the varying solutions we have provided our banking customers. This has also enabled to create a holistic understanding and an all-encompassing Solution to many problems faced by banks in Service Delivery.
Standard Chartered Bank – In the case of Standard Chartered the solutions delivered center around automation of tasks. Converting Big data into Smart data to support Decision making, improving visibility of the Processes, and providing Leader-boards to understand Sales Achievements. Some of our functional modules at SCB include modules for Credit Rating, for data mining, data matching, and several underwriting functions and activities, including eye balling and verification.
Union Bank – with Union Bank the main thrust of the Solution were the Workflows to manage the documents integral to the process. There are several functional Elements included in each workflow, however the solutions include document-centric functions such as document undertakings, hard copy requests, boxing, lodgement and retrieval of documents, and re-lodgement.
Seylan Bank – At Seylan we have delivered several AI panels and functions to automate manual activities such as the Credit rating. We have also provided Workflows to handle underwriting functions such as eye-balling, call back verifications, Credit scoring, and disbursement of funds. All transactions are then integrated to the core banking platform, to ensure there is no need for data duplication.
- Complaint Management – the solution provided enables every employee to log a complaint which can be assigned to the relevant team. The system will track and enforce a 2 day TAT for resolution of any customer complaint and provide a report on complaints where the SLA is violated. Complaints once resolved can be re-opened if the customer is dissatisfied with the Solution provided.
- Lead Management – with 3000 plus employees, the bank generates a significant number of leads internally. The solutions allow employee to generate leads, and also leads received via other channels to be uploaded and tracked until leads are converted. The System provides reporting on lead generation champions and lead conversion champions.
DFCC Bank – For DFCC, Visibility and Control were the Key value adds in the Solution provided. We had leveraged the graphical reporting module to deliver Workflows using Micros Flows. This ensures that all the steps are followed every time, however it also ensures that that DFCC can exercise a greater degree of control over the Process. All details in the Account Opening Workflow are handled on the eDGEVANTAGE platform and then integrated to the core platform.
Pan Asia Bank – We are in the process of providing both an underwriting solution and a project management solution to Pan Asia – this will be the first Project Management solution for a bank.
Results Delivered & Value Added
Across the Banking Sector – we have delivered and continue to deliver value using the platform.
Visibility Enhancement – The ability to see all requests received, where they are in the process, how long it takes across the process, how is the TAT distributed between the different departments and stakeholders. This is achieved using the Task Pad Filters, Graphic Dashboards, TAT reports, EOD reports and Rework Reports.
Automation of Mundane tasks – We have built and deployed a few AI components to crunch data and automate tasks that would normally be done by Underwriters and Verificators: Matching information extracted from CRIB reports with data entered into various interfaces for Verificators and underwriters and the automatic grading of the CRIB reports based on the banks defined credit policy
Track & Trace – the ability to search for and retrieve data on any process on stance and view all data entered, checklists completed, and documents attached. This is delivered via the Scoreboard
Search for and Retrieve documents based on Permissions – The ability to search for and view documents based on a file structure, set index criteria, and permissions defined for each Workflow. This is further enhanced by the ability to manage the boxing, archive, retrieval and re-lodgement of hard copy documents.