About the Bank
Established in the early 1900s, the Bank is one of the largest Public Sector Banks in India and has a pan India presence of more than 6307 branches, 21 Circle Offices and 118 Regional Offices. Widely known for customer centricity, the bank is a forerunner in implementation of IT related products and services and continuously making efforts to provide the state of art technological products to its customers.
In order to cater to the exponential requirements from their customers, the Bank was looking for an innovative, composite and robust cards solution which would help it digitize its end-to-end cards processes and scale up its cards business rapidly. The bank had several custom-built in-house applications running to service its existing Card
management business which needed consolidation.
Apart from the Core card management system, Credit Card implementations usually require the creation of a vendor
ecosystem – it needs an embossing vendor, delivery vendor, printing vendor, ACS partner, back end office
management and so on. The Bank was looking for a partner who could be a single point of contact for them in this
ecosystem, handle end-to-end operations and processes themselves, and provide a comprehensive Cards-As-A-Service (CaaS) offering.
Leveraging Technology to Drive Growth in Credit Card Business
The end-to-end solution model enables the Bank to outsource and optimize workforce in such that it controls
the key business aspects while all the operational/process driven activities are taken care of by Intellect. The activities
managed by Intellect are as follows
- Implementation of iKredit360 Cards, a highly configurable and comprehensive Cards management system – Built on a completely modular architecture, the solution gave the Bank flexibility to choose the required modules for implementation based on its priorities and needs. Benchmarked by IBM to handle 10Mn Cards with 200,000 card authorization transactions per day, 450,000 merchant transactions per day & 1000+ concurrent users, iKredit360 Cards helped the Bank easily accommodate a forecasted exponential growth in volume of cards being serviced.
- Back Office Operations: Intellect manages the complete back office operation of the Bank
- Call Center Support: The entire Cards call center operations is supported by Intellect
- Embossing: The complete embossing process including cards procurement is managed by Intellect
The solution has been designed as a Cards-As-A-Service (CaaS) model with a per-card-fee structure without a licensing fee, which has now become a trend where Pay-As-you-grow is favoured by the market.
By rolling out innovative credit products rapidly for their customers with ease, the Bank was able to develop a competitive edge in the cards segment, enhancing their market share while continuing to be able to deliver best-in-class customer experience. iKredit360 Cards enabled the bank to
- Increase their Credit Card volumes from 0.3 million to 1 million.
- Support several variety of payment cards such as Corporate card, Retail card and Prepaid (Gift Card) Card. Scheme supported are MasterCard & Visa Card functionality (with EMV acquiring).
- Simplify their Operations and leverage a user-friendly system. Increasing organizational agility by reducing time to integrate with both internal as well as external product processors leveraging a lightweight Java-based integration platform.
- Handle high volumes with ease, reduce operation and maintenance costs.Upgrade their Monolithic, legacy FoxPro based in-house DBMS systems to a three tier J2EE (SOA) enabled architecture which is scalable and highly available.
- Launch multiple innovative credit products with a single card account relationship for their retail customers. The solution gives the provision of 15 distinct credit lines and enables the bank to provide flexible repayment options.
- Reduce delinquencies with the provision of an “Easy instalment scheme” which enables flexible credit restructuring.
- Enhance customer experience through a comprehensive loyalty program with multiple redemption options and the provision for customers the option to simulate, choose and book instalments online.
The Customer- Centric Bank
The Bank went live with the new cards platform in 2006 and has issued more than 48.5 million debit cards to their customers till date. The platform has enabled the bank to launch innovative credit solutions on the fly and also drive rapid customer acquisition with controlled risk and cross selling & up-selling abilities. With a provision of multiple customer friendly features such as comprehensive loyalty programs, MCP (Multiple cards in one plastic) and transaction level pricing, the Bank provides a superlative credit experience for their customers, enabling them to establish a leadership position in the Indian market.