Tata Consultancy Services has implemented its Digital CASA Account Opening and KYC services platform at Federal Bank. This is expected to improve customer experience. As part of its transformation agenda, Federal Bank chose TCS to reimagine its account opening and KYC processes. Based on its Business 4.0 thought leadership framework, Machine First Delivery Model and Enterprise Agile framework, TCS deployed its CASA Account Opening Platform on a business utility model – tablet and web based – on the TCS Cloud. The platform enables account opening through STP as well as non-STP, using mobile, cognitive and optical character recognition (OCR) to improve turnaround time. With the use of OCR and automation, the customer’s documents along with the account opening form can be scanned and submitted electronically. The platform also seamlessly and automatically integrates with the Digital India ecosystem and the bank’s internal systems. With the deployment of this platform, Federal Bank has been able to improve the end to end turnaround time for account opening, thereby contributing to enhanced customer experience. The bank also recently piloted these services for their NRI customers. Shalini Warrier, COO of the bank, said the development of the unique account opening solution, in partnership with TCS, has transformed the account opening experience for customers.
