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Partnered with a major NBFC in India to reduce the TAT for banking mandate registration process by 50% leveraging technology upgradation & process re-engineering

Customer Profile

Our client is a major NBFC in India that offers customer-centric, one-stop financial solutions to the retail, commercial, and SME customers via its comprehensive suite of product and service offerings.

Business Challenges
  • The TAT for banking mandate registration was high.
  • Physical files were used for data inputs

Solution

Technology upgradation & process re-engineering - Scanning of documents done at branch level & image based data entry done at central ofc

Banking expertise & penetration- Failed mandates are revisited & pushed via alternate modes to ensure maximum registration

Mandate registration modes were controlled as per success rates

Benefits

Process re-engineering resulted in 50% TAT reduction. TAT was reduced from 25 days to 12 days

Conneqt’s mandate success rate stands at 93% & market success rate stands at 82%

Successfully operating with 50% WFH model with reduced cost & ensuring BCP

Eliminating physical files for data input resulted in faster bank registrations of NACH & auto debit