Enabled a private bank to process over INR 200 Cr in transactions via a new corporate mobile app
14 Apr 2023
2 min read
A digital-focused Indian private sector bank wants to build a diversified and stable franchise For this, the client wanted to develop a corporate app to meet customers’ growing mobile banking adaptation and ensure business competitiveness and create superior digital experiences
Context
- A digital-focused Indian private sector bank wants to build a diversified and stable franchise
- For this, the client wanted to develop a corporate app to meet customers’ growing mobile banking adaptation and ensure business competitiveness and create superior digital experiences
Approach
- Proposed concept architecture options for mobile app development along with the design of the journey and wireframes
- Collated recommendations and requirements & brainstormed with relevant stakeholders to wireframe features that go beyond traditional account balance fun
- Identified key enablers including new architecture capabilities such as micro-services modules, APIs, etc., required to build a scaled offering
- Conducted a thorough analysis of the build versus buy option, go-to-market time, cost, and other internal factors and benchmarked each vendor's offerings against our bank's aspirations and helped in zeroing in on the best suited vendor
- Created and monitored a detailed implementation roadmap including activities of all internal and external stakeholders to ensure smooth development and an on-time product launch
- Developed app performance framework and a corresponding analytics dashboard to measure adoption and usage
Praxis
value delivered
- Personalised client interactions
- Developed the mobile application that improved client engagement by providing customized products, personalized interactions, focussed messages, and specific business insights
- Lower service and operational costs
- Service and operational costs were reduced by processing >INR 200 Cr worth of transactions via the app due to the availability of features like chatbots and push notifications
- Enhanced client servicing
- The mobile app opened new channels of communication for client servicing that helped in better tracking of requests, reducing TAT, and improving the satisfaction level of key customer decision-makers
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