Newgen A Fortune 500 Global Banking Leader Upgrades its Customer Service Request Management with Newgen (1).pdf
- 1. A Fortune 500 Global Banking Leader Upgrades its Customer Service Request Management with Newgen Transforms service delivery across 600+ request types, spanning 30+ lines of business
- 2. Overview Our customer is a global leader in financial services, operating across multiple geographies and serving 40 million customers worldwide. The organization offers a wide gamut of services, including personal, commercial, global, and private banking. Despite its strong market presence, the bank faced challenges in efficiently managing the large volume of service requests and customer complaints. To address these challenges and transform its operations, the bank selected Newgen as its digital, dynamic, and dependable technology partner.
- 3. Challenges Faced by the Bank The financial institution faced several challenges due to limitations in its existing tech infrastructure. The key concerns included difficulties in storage, management, and effective utilization of diverse requests and complaints. Additionally, the bank’s conventional approach led to other barriers, including: No automated workflows Manual request processing Multi-channel integration Core system limitations No real-time request tracking or turnaround time (TAT) function Incomplete information or delayed processing Requests being assigned and sent to inaccurate back-office departments Inconsistent experience across contact centers, in-branch services, social media, and digital mediums Lack of consistent service across all customer touchpoints System complexities Multiple systems (ERP, CRM) with no unified work-desk interface High IT dependency for addition/changes in service processes Transparency & agility Non-transparent workflows and manual hand-offs Limited real-time visibility into request status
- 4. Regular Industry Approach Newgen implemented a unified, platform-based approach with its Financial Service Request Management Solution (SRM) solution for tracking both complaints and requests. Built on an AI-enabled low-code platform, the solution combined the capabilities of business process management (BPM) and enterprise content management (ECM). This enabled the institution to streamline, track, and resolve service requests/complaints seamlessly from customers and internal stakeholders. Transformative Steps Taken by Newgen delayed response time inconsistent customer experience escalation in number of complaints increased IT dependency Many financial institutions have tried to ‘slay the beast’ of service inefficiencies with point solutions. While these disparate solutions automate specific tasks, such as processing simple inquiries and resolving transaction disputes, they result in disjointed systems with scalability and integration issues. The consequences are: To overcome these roadblocks, a future-proof, unified system that combines robust automation capabilities across all service areas is essential. Such platforms allow banks to integrate and modernize end-to-end workflows—from customer inquiries to compliance processes, enabling faster response time and a digital-first customer journey.
- 5. Dynamic Customer Service Desktop: A personalized single-screen admin module was implemented, providing a holistic view of each customer Dedicated Portal: RMS requests were exclusively raised by in-house users via a dedicated RMS portal hosted internally Intelligent Routing and Prioritization: Routing was streamlined with a business rule management system, ensuring accurate and efficient handling of requests Real-time Analytics and Transparency: Users could monitor request statuses and performance in real-time, delivering faster resolutions and ensuring proactive management Multi-level Escalationss: The system triggered burst notifications for pre-TAT and post-TAT escalations Compliance and Reporting: Compliance with service-level agreements was maintained, while improving TAT management through MIS reports and alerts Solution Highlights The solution delivered agility, scalability, and seamless integration with the bank’s existing system. Key features included:
- 6. Qualitative Improvements Seamless multichannel interaction Complete process visibility & transparency Improved decision-making Reduced turnaround time Maximized operational efficiency Enhanced customer experience and satisfaction Better compliance adherence
- 7. About Newgen Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, communication management, and AI/ML capabilities. Globally, successful enterprises rely on Newgen’s industry-recognized low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and for many more use cases across industries, Newgen unlocks simple with speed and agility. For Sales Query AMERICAS: +1 (202) 800 77 83 CANADA: +1 (202) 800 77 83 AUSTRALIA: +61 290 537174 INDIA: +91 11 407 73769 APAC: +65 3157 6189 MEA: +973 1 619 8002, +971 445 41365 EUROPE: +44 (0) 2036 514805 [email protected] www.newgensoft.com https://newgensoft.com/platform/omnichannel-customer-engagement/ https://newgensoft.com/platform/omnichannel-customer-engagement/ https://newgensoft.com/platform/content-services-platform/ Dec 2024 Quantitative Business Impact Disclaimer: This e-mail and any attachment may contain confidential, proprietary or legally privileged information. If you are not the original intended recipient and have erroneously received this message, you are prohibited from using, copying, altering or disclosing the content of this message. Please delete it immediately and notify the sender. Newgen Software Technologies Ltd (NSTL) accepts no responsibilities for loss or damage arising from the use of the information transmitted by this email including damages from virus and further acknowledges that no binding nature of the message shall be implied or assumed unless the sender does so expressly with due authority of NSTL. Streamlined Processing Volume 30,000 cases/month 1,751 active users, covering 26 request types in 203 categories and 233 subcategories Scalable Support 3,000 call center agents and back-office users Coverage Offered Empowered Engagement 600+ request types across 30+ LOBs (deposits, lending, wealth management, etc.) Conclusion Newgen's integrated solution transformed the bank's approach to customer service, addressing inefficiencies and enhancing operational performance. By streamlining workflows and integrating multiple channels, the deployed solution significantly improved customer satisfaction and simplified service delivery. The deployment optimized the bank’s day-to-day operations and provided a scalable foundation for future growth.