Case Study

It is important for any business to sit back, analyse and put forth plans that can be executed in perfection. What really makes for a good retrospection, are case studies – they not only are a mirror to our work but a testimony by itself for our efforts. There cannot be a simpler way to understand the workings of our business minds, than to look at some of our geniuses’ efforts at play.

Chase Bank (Kenya) Limited

(Chase Bank (Kenya) Limited is a leading commercial bank head quartered in Kenya. Chase bank has over the past experienced exponential growth in virtually all its growth parameters. The bank offers Wholesale Banking and Retail Banking services to its retail and corporate customers)

Objective

  • Digitalise the customer on-boarding process for Bank and reduce the paper work and time for opening new accounts

  • Obtain a solution which reaches every pocket in the country where bank does not have a branch, also requiring an offline data uploader based on the network infrastructure available

  • Obtain better solution which is cost efficient, increases profitability, generated with augmented transaction volumes

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Approach and Solution

  • ModeFinServer Account Opening Solution - Mobile based on-boarding and KYC to help the bank staff to capture customer information face-to- face and instantly initiate the process at the back-office

  • Independent of Hosting Infrastructure. API for integration with any Mobile Banking vendor or custom platform

  • Ability to capture the KYC document in an Offline Mode and upload when connected with data

  • Maker and Checker Process to validate and authenticate every new account

  • Integrated with the Core Banking system and national database for validating the customer provided documents, which also helps the banks in classifying and managing bulk documents with ease

The Result

  • Better Productivity - Reduced Operational Costs and increased the number of accounts opened with 600+ new Accounts daily

  • Reduced Turn-Around - Time - Accounts are now processed in digital format saving time. The average time to open a new account has been reduced to 24 hrs

  • Compliance and Quality - Each and every Account Opened is audited by the Bank

  • Customer Experience - Exceptional customer service and improved relations leading to happy customers

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Equity Bank Limited (EBL)

(Equity Bank Limited (EBL) is a leading bank headquartered in Kenya with presence in Kenya, Uganda, Tanzania, Sudan and Rwanda. Equity Bank has over the past decade experienced exponential growth in virtually all its growth parameters. Equity Bank has launched its Mobile Banking services under the brand name of Eazzy247)

Objective

  • Setup a multi country mobile commerce system

  • Launch a mobile payment / transfer system as a competition to MPESA

  • Increase reach of bank to remote corners of the country through agents

  • Increase the number of customers & transactions with the bank

Approach and Solution

  • Single Interface for various delivery Channels. Supported Channels SMS, USSD, WAP, Mobile Internet, IVR and Downloadable Apps for J2me, iPhone, Android, BlackBerry Mobile and Tablets

  • Quick to Market

  • Independent of Hosting Infrastructure

  • Multi Institution, Multi Currency, Multi Country, Multi Language, Multi Operator, Multi Gateway & Multi Session support

  • Flexible Admin Interface for Configuration, System Monitoring Alerts and On the Fly service creation and Channel enablement

  • Readymade Handlers for financial services. Look & Feel and Branding as required along with Reporting Engine for easy creation of complex reports

  • Multiple ways for Customer Registration and self onboarding including maker / checker concept, web service for online and Import / Export Features

The Result

  • Rollout of a country wide agent platform with more than 6,000 locations serving 200,000 transactions per day with around 7 million Customers (Data - @ Launch 2011)

  • Seamless Integration with the bank’s Core Banking System - (Finacle)

  • Easy available Compliance Reports as mandated by Central Bank of Kenya to monitor transaction velocities and limits

  • User-friendly agent centric interface enables Bank to easily visualise structural hierarchies as well as complete customer details

  • Single Solution supporting 6 Countries

  • Integration with Utility Billers, Telecom Operators, Government Agencies, ATM Switch, Wallet Services etc.

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