Our Core Banking Solution (CBS) is structured around the most important components of our business: Customer service and Process efficiency.
In June, we completed the implementation of BR.Net, our core banking solution upgrade across all branches. The implementation was completed at 299 branches in a record timeframe of 11 months.
Our Core Banking Solution upgrade helps overcome operational problems faced by MFIs such as low bandwidth, large transaction volumes, vulnerable database security etc. It is platform independent and loan modules are fully integrated with financial accounting, also supporting mobile transactions at the field level. BR.Net is based on open delivery concept allowing a more secure interface to third party delivery channels such as ATM, SWIFT and Internet Banking.
Some of the major benefits are:
- Reduction in update errors
- Branch staff get updated information about the customer transactions at the branch
- Customer queries on their accounts are cleared immediately at the branch or in field
- Branch staff know exact pre-closure amount for customers willing to pre-close their loan
- Credit history of the customer can be checked at branch for repeat loan sanctioning
- Branch overdue report can be generated whenever required
- Various MIS reports can be accessed directly at the branch
- Quick and accurate implementation of policies
Diligent coordination with various departments (Operations, IT, SQ, Admin and Distribution), training branch staff, setting up infrastructure at the branches, and providing technical support helped in the seamlessly integrated implementation of CBS.
The results have already begun to show.
"Immediate follow ups can be done on customers who have overdue"
- CRM Anand and Cashier Uday Kumar, Belgaum branch
"Able to provide immediate information and maintain a good relationship with customers
- CRM Devi and Cashier Ramu, Magadi Road branch