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Financial Services
Creating ‘Service’ as a key differentiator and owner of client experience in a private bank
01 Jun 2023
Context 
  • A fast-growing private sector bank wanted to achieve a seamless servicing process by reducing servicing TAT which is emerging as a key differentiator in the banking and fintech space
Our approach
  • Onboarded all client servicing teams on one platform to ensure a single repository for all incoming queries 
  • Categorized all client queries into types and sub-types, identified top client queries across categories and defined Service Level Agreements (SLAs)
  • Identified platinum clients (high-revenue clients) and set preferential SLAs for them across products
  • Defined an escalation matrix in case of SLA breach and configured a messaging and notification system to alert respective users
  • Created service dashboards for an aggregate view of the resolution process for various query types – unassigned queries, open / closed queries, breached / near-breach SLAs etc.
Praxis value delivered
  • Operational efficiency & capacity
    • Enabled the service team to deliver an enhanced client experience by reducing process complexity and consolidating end-to-end client interactions on a single system, creating a lean service set-up
  • Leadership monitoring and overview
    • Significantly improved visibility for top management regarding the status of queries, enabling better decision-making, proactive management, greater accountability, performance measurement, and process optimization
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