Leading fast-growing bank cut service TAT 35% and gave platinum clients priority SLAs
01 Jun 2023
1 min read
A fast-growing private sector bank wanted to achieve a seamless servicing process by reducing servicing TAT which is emerging as a key differentiator in the banking and fintech space
Context
- A fast-growing private sector bank wanted to achieve a seamless servicing process by reducing servicing TAT which is emerging as a key differentiator in the banking and fintech space
Our
approach
- Onboarded all client servicing teams on one platform to ensure a single repository for all incoming queries
- Categorized all client queries into types and sub-types, identified top client queries across categories and defined Service Level Agreements (SLAs)
- Identified platinum clients (high-revenue clients) and set preferential SLAs for them across products
- Defined an escalation matrix in case of SLA breach and configured a messaging and notification system to alert respective users
- Created service dashboards for an aggregate view of the resolution process for various query types – unassigned queries, open / closed queries, breached / near-breach SLAs etc.
Praxis
value delivered
- Operational efficiency & capacity
- Enabled the service team to deliver an enhanced client experience by reducing process complexity and consolidating end-to-end client interactions on a single system, creating a lean service set-up
- Leadership monitoring and overview
- Significantly improved visibility for top management regarding the status of queries, enabling better decision-making, proactive management, greater accountability, performance measurement, and process optimization