New Delhi, January 21, 2014: Bank of India (BoI), one of the leading nationalized banks in the country, has deployed Microsoft SharePoint Solution to automate the loan and application deposit process in its 4,100+ branches and 50 zonal offices across India. The automation of 15 different loan application forms have reduced the turn-around time for filling up applications by 50%, improved customer satisfaction and increased operational efficiency.
Pushpinder Singh, General Manager – IT, Bank of India stated, “Customer satisfaction is our utmost priority and we want to cater all generation of customers irrespective of the location they reside in. To fulfill this goal, we wanted to digitize the application process, automate MIS reporting, and set up a collaborative portal for information sharing within the organization. We decided to choose Microsoft SharePoint for its familiarity, ease of use and out-of-the-box functionalities that allow collaboration with cross-functional teams in branches all over India. We have been successful in enhancing customer satisfaction by easing the loan application process, reducing the turn-around time by 50% and serving customers of all age groups.”
Bank of India is an early adopter of Microsoft SharePoint and has set this as a benchmark for other nationalized banks to increase efficiency and collaboration, especially for customers who prefer online transactions and access their bank accounts over the internet. Key benefits experienced by the bank include:
- Reduced turn-around time: The automation of 15 different loan application forms have reduced the turn-around time for filling up applications by 50%, thus enhancing customer satisfaction. It has been a boon for NRI customers as they can avail the services from any part of the world.
- Increase in customer base: Within a week of launching the online form facility, the bank received over 250 applications. This has opened a new avenue for the bank to increase its customer base by reaching out to people who do not have the time to visit the bank to submit their loan applications.
- Built new collaborative portal: With the help of SharePoint, Bank of India has set up a portal called StarDesk, which has enabled a collaborative environment for knowledge and information sharing. The bank can now keep all its employees on the same page with respect to important developments and news.
- Digitization of processes: The bank has digitized all its board meeting proceedings with the help of SharePoint. It also uses the technology as a document management platform, which gives the bank more time to focus on its core business processes and avoid repetitive tasks.
“Bank of India is a fine example of how technology can be leveraged to provide customers a hassle free and quick service regardless of the location. With the help of Microsoft SharePoint, it has embarked on a journey to automate processes, use intranet, host discussion forums, leverage document management system and manage their employee portal,” said Ramkumar Pichai, GM – Microsoft Office Division, Microsoft India.
Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential. Microsoft set up its India operations in 1990. Today, Microsoft entities in India have over 6,000 employees, engaged in sales and marketing, research and development and customer services and support, across nine Indian cities – Ahmedabad, Bangalore, Chennai, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi and Pune. Microsoft is committed to touching and transforming lives and businesses in India through technology.