.png){kind=logo}
How a leading bank reduced corporate customer onboarding time by 90%
Bank sought to transform its outbound customer onboarding process by introducing Xpress Connect, an innovative platform designed to simplify and accelerate onboarding for corporate clients utilising the e-Collections and iSurePay product lines. Incorporating advanced automation and seamless integration capabilities, Xpress Connect aimed to reduce onboarding durations from 3–6 weeks to just 2 days, offering a smoother experience for customers and enabling real-time API testing and deployment.
Tech used
Automation
Corporate Banking
Data Reconciliation
API Management
India
Challenge
The existing onboarding process presented numerous inefficiencies and obstacles:
Reliance on Manual Processes: A significant portion of onboarding activities was manual, leading to prolonged timelines and a higher risk of errors.
Complex Integration: Mapping customer APIs to the bank's internal systems required laborious manual configurations, delaying onboarding completion.
Inadequate Testing and Deployment: The absence of an automated testing framework extended UAT cycles and necessitated repetitive tasks during production deployment.
Limited Scalability: As the number of corporate clients increased, the manual process became unsustainable, adversely affecting customer satisfaction and service quality.
These issues underscored the urgent need for an automated, scalable platform to streamline onboarding, improve accuracy, and significantly reduce turnaround times.
Solution
The bank implemented Xpress Connect, a state-of-the-art customer onboarding platform offering the following capabilities:
Automated Workflow: Key steps, including registration, API mapping, UAT testing, and code deployment, were automated, significantly reducing manual intervention.
Seamless API Mapping: Customers could upload WSDL, XSD, or Swagger files to map their API parameters to the bank's systems easily, enabling precise one-to-one field mapping.
Real-Time Validation: The platform facilitated real-time API validation and end-to-end transaction testing for customers and bank teams, ensuring flawless integration.
Efficient Code Deployment: UAT-approved code was automatically migrated to production using DevOps methodologies, eliminating redundant configuration tasks and expediting go-live.
Comprehensive Product Support: The platform enabled onboarding for both payments and accounts information & notification, supporting transaction types such as RTGS, NEFT, IMPS, and Fund Transfers.
Stakeholder collaboration and adherence to the bank's high performance standards ensured the platform’s successful implementation.
Result
Xpress Connect revolutionised the bank's customer onboarding process, delivering tangible benefits:
Reduced Onboarding Duration: The average onboarding time dropped from 3–6 weeks to 2 days, with a target of 2 hours for future phases.
Enhanced Scalability: The automated solution enabled multiple corporate clients to be onboarded simultaneously without compromising quality.
Improved Accuracy: Automation and real-time validation greatly minimised errors during API mapping and integration.
Increased Customer Satisfaction: Corporate clients experienced faster, smoother onboarding via an intuitive interface, significantly enhancing satisfaction levels.
Operational Efficiency: The streamlined process allowed the bank to optimise resource allocation and reduce operational overheads.
