Digital First-Iserve Qorus-Infosys Finacle Banking Innovation Awards 2024

Recognizing the challenges faced by its valued customers in performing various banking activities through mobile banking and internet banking, despite the presence of robust systems, the bank has taken proactive steps. Customers encountered issues such as forgetting login passwords/PINs, difficulties in application downloads, and challenges in dispute resolution.

To address and minimize the failure rate of transactions, the bank has introduced an application-less banking services platform called I-serve, accessible at https://iserve.nicasiabank.com. Through this platform, customers can access a diverse range of banking services, including customer services, teller services, card services, bank guarantee verification, account blocking, cheque requests, cheque stoppage, cash deposits, cheque deposits, online account opening, video KYC, IPO and lien marking application, CASBA registration number requests, and linking bank accounts.

Furthermore, the platform offers services such as bank guarantee issuance, balance inquiries, balance certificate requests, statement requests, scheme transfers, blacklisting service requests, TDS certificates, and online loan account opening against fixed deposits, providing an end-to-end solution. The list of services is continually expanding to enhance customer convenience and streamline banking transactions.

Impact of initiative-KPI

1. Customer service TAT decreased. 2. Increase in Efficiency of Branch’s operation unit. 3. Time savings of customer 4. Branch visit hassle eliminated. 5. End to end automation 6. Digital transformation for customer as well as bank 7. Adoption of digital platform 8. Change in business module for certain banking operational services part