Chase Bank Case Study | Modefin

Chase Bank (Kenya) Limited is a leading commercial bank head quartered in Kenya. Chase bank has over the past experienced exponential growth in virtually all its growth parameters.

The bank offers Wholesale Banking and Retail Banking services to its retail and corporate customers.

Situation

Digitalizing the customer on boarding process for Bank.

Reduce the paper work and time for opening new accounts

Need a solution which will reach to every pocket in the country where bank does have a branch

As network infrastructure is not good in Kenya, the bank requires a solution which will upload the data offline as well.

Looking for Better solution which is cost efficient, Increases profitability, generated with augmented transaction volumes

SOLUTION

Mobile based on-boarding and KYC helps the bank staff on-the-move, to capture customer information while he is face-to-face with the customer and instantly initiate its processing at the back-office.

Independent of Hosting Infrastructure. API for integration with any Mobile Banking vendor or custom platform.

Ability to capture the KYC document in an Offline Mode and upload the data when connected with data.

Maker and Checker Process to validate and authenticate every new account.

Integrated with the Core Banking system and national database for validating the customer provided documents.

It also helps banks in Classifying and managing the bulk documents with ease.

The Result

Better Productivity

Reduce Operational Costs and increase the number of Accounts opened. Chase Bank is opening daily 600+ new Accounts.

Reduced Turn–Around-Time

Accounts are processed in digital format saving time. The average time to open a new account has been reduced to 24 hrs

Compliance and Quality

Each and every Account Opened is audited by the Bank.

Customer Delight

Provide Exceptional customer services at door step. Improve in Customer Delight.