Deploy data governance services for a bank’s agriculture business documents.
One of the top 5 private sector banks in India has a footprint of over 2000 branches across India. The bank caters to the Agriculture and Retail businesses of large, and mid-level corporates, and MSMEs.
- The Challenge
- Growing agriculture loan portfolio through a wide network of branches spread across urban as well as rural India
- No structured methodology for data capture and archival of loan documents especially for legacy data
- Local statutory documentation and multiple types of documents in local languages led to lack of control on agribusiness documentation
- Documents stored at their branches in an unorganized manner
- Audit of documents proved to be a challenge
- Customer services were impacted adversely
- The Solution
- Loan assets were segregated & inventoried at the Bank’s Branches and securely transported to two centralized locations as per the original location of these documents.
- WIMS’s Data Governance solution was implemented:
- Digitisation and tagging of Loan assets were carried out simultaneously, with over 1 lakh images processed daily, at both locations.
- InfoSearch, our e-retrieval and image repository solution, was deployed as a SaaS application.
- Images were uploaded into InfoSearch as per Customer’s SLAs.
- e-Hosting services for these Asset images in a Tier 4 Data Center was provided with DR option.
- e-Access and download facilities given to the Bank’s Teams across all branches.
- Daily reporting dashboards established
- Segregated and secure storage options for different loan asset classes. Large value and critical documents stored in our Secure Store fire-rated compactors at file level.
- Web-access to all loan assets in our system provided to the Bank.
Benefit to our Customer
- Bank was able to provide their complete inventory of Agriculture Loans in record time.
- Improved Customer services across all Agri Branches of the Bank.
- No CAPEX investments in any part of this deployment.
- All Info-Security parameters and SLAs of the Bank were addressed
- All the files centralized at two locations of Bank’s choice.
- Bank could achieve Image based audits thus minimizing the physical retrieval/touch of the files
- Reduced threat of loss in transit.
- Bank achieved their digitization, archival and cost optimization milestones.