State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is the 43rd largest bank in the world and ranked 221st in the Fortune Global 500 list. It is also the fifth-largest employer in India with nearly 250,000 employees.
SBIEU had more than 11000 members making them one of the largest unions, thus compelling to personalize the relationship between employees and their finances, giving them more control over their money. They came with the idea to develop a user-friendly website that offers complete financial transparency and operational hierarchy along with security.
Mobility, Digital Transformation
Earlier, the client had been processing and maintaining financial data in the usual manner. During that time, they faced a number of challenges, including the following:
- It was a challenge for the employees to effectively manage their finances from anywhere, anytime
- The client was unable to view a log, balance sheet and account data hassle-free
- No protection aspect was there thus, it was challenging for the client to secure their business data from an unauthorized person
- No solution was available concerning life feeds, dynamic news feeds, updates on the latest events, and union activities
After analysing the requirement of a client digital, experts at KCS has provided the following solution to them:
- Through a user-friendly mobile application, employees can now easily access and handle their finances from anywhere and at any time
- KCS’s experts created individual members login processes while integrating them with external management tools
- Developers have incorporated various features that streamline the daily activity of the client such as loan deduction, generate balance sheets, mechanically generate interest each month, and much more
- The client is now able to keep the customers up to date about the new events or latest news
Fix Deposit Statements
Food Loan / Loan against TDR Statements
Ordinary/Special/Vehicle Loan Statements
Regular News & Updates
About the Bank
Our study required a thorough understanding of the client’s requirement, transforming every step of the manual process to an automated process, essential analysis or organizational functioning and hierarchy, research of various systems present in the organization, data management etc. KCS and SBIEU worked diligently to set up the new digitized system with simple yet powerful features which their employees can access from anywhere with problems and acts as a communication tool for them to stay connected.
After striving through a lot of creative, strategizing exercises, KCS finally digitally reformed the SBIEU working system. Automation was introduced in each process. Members who did the same type of work were connected via a single click, rendering transparency to each employee about their finances. Team KCS totally automated the finance management application for the members of the SBIEU. We rendered a stellar and secure platform that aggregate wallets, savings, loans etc. allowing the members to customize their experience according to their requirements.