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Financial Services
Designing and implementing a sophisticated transaction monitoring tool
01 Jun 2023
Context
  • A private sector bank wanted to enable and empower the client-facing service teams by providing them access to client and transaction information/resolution tools etc
Approach
  • Examined the challenges experienced by customer servicing teams when addressing diverse customer queries
  • Recommended creating an observatory tool in the form of a glass pane to offer end-to-end visibility of transactions to the relevant client servicing teams
  • Detailed the relevant features required in a transaction monitoring tool that enables client servicing teams to quickly respond to clients with the diagnosis of the issue
  • Suggested appropriate build type (complex vs simple) for the tool based on considerations such as development cost, system scalability, etc.
  • Developed wireframes and a journey flow for the transaction monitoring tool, taking into account feedback from relevant stakeholders 
  • Created a detailed implementation roadmap to ensure the timely execution and launch of the tool for all the relevant teams
  • Trained internal and external users about the usage of the transaction monitoring tool via product demos and self-serve manuals
Praxis value delivered
  • Seamless servicing experience 
    • Created real-time visibility of client transactions to servicing teams, leading to reduced TAT for query assessment/resolution and enhanced client convenience and experience
  • Increased productivity
    • High volume of queries could be resolved with the same bandwidth due to fewer hand-offs and reduction of manual interventions in the diagnosis and query resolution process
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