Agencies, New Delhi
Global IT services Tata Consultancy Services and Federal Bank announced the deployment of TCS’ Digital CASA Account Opening and KYC Services Platform, resulting in improved customer experience.
"As part of its transformation agenda, Federal Bank chose TCS to reimagine its account opening and KYC processes. Based on its Business 4.0™ thought leadership framework, Machine First™ Delivery Model and Enterprise Agile framework, TCS deployed its CASA Account Opening Platform on a business utility model – tablet and web based – on the TCS Cloud," a statement here said.
"The platform enables account opening through Straight Through Processing (STP) as well as non-STP, using mobile, cognitive and optical character recognition (OCR) to improve turnaround time," it added.
With the use of OCR and automation, the customer’s documents along with the account opening form can be scanned and submitted electronically.
The platform also seamlessly and automatically integrates with the Digital India ecosystem and the bank’s internal systems.
With the deployment of this platform, Federal Bank has been able to improve the end to end turnaround time for account opening, thereby contributing to enhanced customer experience. The bank also recently piloted these services for their NRI customers.