New Delhi: 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.
In a release, Pushpinder Singh, GM – 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 fulfil 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, Increase in customer base, Built new collaborative portal and 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.
Kerala IT News