Post-Merger: Improving efficiency, customer experience and operational excellence
Infosys spearheaded a groundbreaking initiative to optimize and streamline the digital account opening process for Truist following the merger of two banks, BB&T and SunTrust. By partnering with Infosys, the bank embarked on a transformative journey to bring in best practices, and efficiency to the overall client onboarding process.
This case study illuminates the collaborative efforts and strategies employed by Infosys to drive efficiency, customer experience and operational excellence in a complex post-merger scenario for account opening process.
Key Challenges
- Legacy on-premises application was used before merger
- Disjointed interface had many screens and manual data entry
- Inconsistent processes, broken interactions requiring manual assistance
- Same application was used for many lines of business (LOBs) and had a joint code base (code change for one LOB impacted codes for all other LOBs)
- Non-scalable and incapable to absorb higher volumes post-merger
Ready to discuss?
TALK TO EXPERTS
The Solution
Redefining processes with bespoke application for account opening
- Revamped the account opening process by streamlining operations
- Bespoke application hosted on cloud to support the merged entity
- Rationalized data entry improved efficiency and time effectiveness
- Synchronized tasks such as AML, KYC, Online Banking registration
- Integrated with bank portal, application supports banking center and online self-service clients
- Significantly improved user experience, Capable of scaling and handling much higher volumes at a faster speed
Innovating the future with customized solution approach
- Operational improvements
- Tailored application for end-to-end account opening, integrated with KYC, AML and Cards
- Code clean-up, scalability, ability to handle merged entity transactions
Benefits
Streamlined account onboarding experience
Reduced account opening time and lower client drop rate
Increased client satisfaction and experience
Segregated code with no impact on other lines of business
