CHASE BANK (KENYA) LIMITED

(Chase Bank (Kenya) Limited is a leading commercial bank head quartered in Kenya. Chase bank has over the past experienced exponential growth in virtually all its growth parameters. The bank offers Wholesale Banking and Retail Banking services to its retail and corporate customers)

Objective

  • Digitalise the customer on-boarding process for Bank and reduce the paper work and time for opening new accounts.
  • Obtain a solution which reaches every pocket in the country where bank does not have a branch, also requiring an offline data uploader based on the network infrastructure available.
  • Obtain better solution which is cost efficient, increases profitability, generated with augmented transaction volumes

Approach and Solution

  • ModeFinServer Account Opening Solution – Mobile based on-boarding and KYC to help the bank staff to capture customer information face-to- face and instantly initiate the process at the back-office.
  • Independent of Hosting Infrastructure. API for integration with any Mobile Banking vendor or custom platform.
  • Ability to capture the KYC document in an Offline Mode and upload when connected with data.
  • Maker and Checker Process to validate and authenticate every new account.
  • Integrated with the Core Banking system and national database for validating the customer provided documents, which also helps the banks in classifying and managing bulk documents with ease.

The Result

  • Better Productivity – Reduced Operational Costs and increased the number of accounts opened with 600+ new Accounts daily.
  • Reduced Turn-Around – Time – Accounts are now processed in digital format saving time. The average time to open a new account has been reduced to 24 hrs.
  • Compliance and Quality – Each and every Account Opened is audited by the Bank.
  • Customer Experience – Exceptional customer service and improved relations leading to happy customers.
Come Lets Talk “Money On Demand – Your Mode of Payment.”