Challenges

Remote scanning of cheques has significantly reduced the number of customers visiting the branches and also reduced the que at CCDMS. This also helped reduce the cost of checking checks.

Primary target

Which group does your product/service primarily target?

Description of Innovation

Ability to process upto 99 cheques and availability of bluk upload options to process more than 100 cheques. Ablity to manage PDCs and returned cheques without the need to contact the RM or branches. Allows to scan cheque remotely for early utilisation of funds

Results

The automation of elaborated in point #12 above has led to minimal human interaction and admin work, enabled remote processing for clients

Lessons Learnt

A robust Pricing and Billing Engine is what is required to ensure any fee income leakages are plugged as soon as they get reported.

Central Bank Regulation to receive the processed cheques within 2 business days it’s a challenge however it doesn’t hinder the success of the product.