To offer a seamless banking experience to their customers, banks try to provide quick & responsive banking services to their customers. One such way of providing efficient service is the issuance of a welcome kit or cheque book as soon as the customer opens an account/ submits a request for cheque book issuance. This depicts the efficiency & capability of a bank for completing its customers’ requests within a short turnaround time.
Let’s review the chequebook issuance process in detail
- The customer opens an account & places a request for a new cheque book.
- The servicing team checks the eligibility of the customer. If the customer does not qualify then the request will be rejected and the relevant reason for rejection will be shared with the customer via e-mail & SMS.
- If the customer is eligible, then the request is accepted & an email is triggered to the printing & dispatch team for printing the cheque book & dispatching the same via courier.
- A summarized report for all such requests PAN India is generated by the servicing team. The report summarizes the issuance/rejection count based on the regional level of the bank.
- The request count is recorded daily & the updated status is mailed to all the stakeholders via email by EOD.
Based on the report, the bank’s administration comes up with various measures to ensure that cheque book requests raised should get resolved within the same day and efficient service to be provided to customers.
- All the cheque book request is recorded via net banking, customer support or through retail branches where customer physically places the request and all the request details get stored in the database.
- After this, the DB team downloads the data from the database and provides it to the servicing team.
- The servicing team reviews the request and checks the required eligibility before issuing the cheque book. After all processing, the approved & rejection status is updated in the file and sent again to the database team.
- The database team updates the entries the in database for all customers who fulfil the eligibility and the ones whose request is rejected.
- After this, the database team sends the approved status file to the printing and dispatch team for printing & dispatching the cheque book via courier.
- At the end of the day, a Cheque Book Issuance Summary Report is generated and sent to the relevant stakeholders via e-mail.
- This process was performed daily and took almost 5 hours to complete. The process involves manual intervention and gathering of data from multiple sources, hence the servicing team got in touch with SheetKraft to get this automated.
- After automating the process, the data is extracted directly from the database since all sorts of integrations are possible with SheetKraft. With help of set logic and validations, the request is approved or rejected and the entry is updated again in the database.
- All the approved request is consolidated in a file & sent via email to the printing and dispatch team for printing the cheque book and dispatching the same through courier.
- A summary report is also generated as per user requirements and is shared via e-mail to the respective stakeholders.
Benefits of Automating with SheetKraft
- After using SheetKraft, the reports are triggered automatically without any human intervention daily to all the stakeholders. It hardly takes 5 minutes for the entire process of fetching the data, summarizing the request status & sending e-mails to stakeholders i.e. 2 hours per month against 12 days per month when done manually.
- Also, validating the customer’s eligibility for the request is done efficiently with the help of predefined checks & logic set using Sheetkraft.
- Apart from the Summary report being sent to the stakeholders, the graphical trend of the count of cheque books issued and not issued is also generated. This enables the administration to come up with various measures to ensure that the chequebook requests raised should get resolved within the same day.
- Frequent updates of this report helped the bank’s servicing team to improve their efficiency and performance to resolve its service request. This in turn improved banks capability of resolving their service request significantly.