A Leading Bank Deploys Nividous Platform to Automate Bank Guarantee Closure Process
Reduction in operational cost
Reduction in process handling time
Improved compliance
Industry
- Banking
Processes Automated
- Bank guarantee closure process
- Daily closure process for letters of credit
Automation Highlights
- On-demand and/or scheduled Bots
- A detailed audit report on each automation
- Execution on multiple systems
One of the fastest-growing banks in India
The customer currently services over 6.5 million customers through a network of over 300 branches and ATMs and 200 banking outlets spread across India. The customer was looking for a cost-effective and efficient solution for its labor-intensive and error-prone bank guarantee closure process.Nividous platform was deployed to automate the complete process that enabled faster customer communication and a 45% reduction in process handling time.
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The bank guarantee closure process is highly time-sensitive. The automation has helped us in sending timely intimations to our customers by effectively streamlining the tracking of each bank guarantee record.
The flexibility and control provided by Nividous platform allowed us to process all pending bank guarantees on-demand and serve the customers significantly faster.
A Leading Bank in India
