Download PDF
Processes Turnaround Time Reduced by 30% for SUCO Bank
Technology Category
- Platform as a Service (PaaS) - Application Development Platforms
- Platform as a Service (PaaS) - Connectivity Platforms
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
- Human Resources
- Procurement
Use Cases
- Inventory Management
- Predictive Maintenance
- Process Control & Optimization
Services
- Software Design & Engineering Services
- System Integration
- Training
The Challenge
In addition to the core banking processes, SUCO Bank followed many other processes which were unique to its organization. For example, a monthly appraisal management system based on set goals and targets, lead management, procurement management and more. These processes were either email or paper-based, making them error-prone, slow, and non-transparent. The turnaround time for these processes was long because of the manual handling and the bank was looking for a solution to reduce this time. There were a number of ready-to-use software available in the market for every process, but being a non-IT organization, instead of buying a different solution for each process which may or may not be configurable as per the bank’s needs, SUCO wanted one general-purpose automation platform that could be used to automate all processes as per their unique needs and become their single source of truth for all the information. This would mean that the bank would have to manage only two platforms – one for core banking and another one for all remaining applications.
About The Customer
SUCO Bank is a financial institution that operates in the banking sector, providing a range of financial services to its customers. The bank has a large workforce and follows numerous processes that are unique to its organization, such as a monthly appraisal management system, lead management, and procurement management. These processes were traditionally managed through email or paper-based methods, which made them prone to errors, slow, and lacking in transparency. As a non-IT organization, SUCO Bank faced challenges in managing these processes efficiently and was in search of a solution that could streamline and automate these operations.
The Solution
After a thorough market study, SUCO decided to evaluate Quixy as a general-purpose no-code platform. They started with a PoC which was completed within a week to SUCO’s satisfaction. SUCO then adopted an agile approach to automate various processes on the Quixy platform. Each sprint either involved enhancements to the processes already automated in the previous sprint or new processes altogether. The implementation team involved Quixy platform consultant, process owners and citizen development team from the bank. So far, processes such as HRMS Appraisal System, IT Incident Management, Inventory Management, and Insurance Module have been automated and deployed. Processes such as Asset Management, HRMS Leave Management, CRM integration, IT Asset Management, etc have been targeted for implementation in the coming weeks. Using the role and access permission settings, process owners for each process have been given access to make necessary changes to the apps which may include changes to form data, workflow steps, business rules and access to information. The apps are seamlessly integrated to ensure no data redundancy, and Quixy remains the single source of truth for all data.
Operational Impact
Quantitative Benefit
Related Case Studies.
Case Study
Real-time In-vehicle Monitoring
The telematic solution provides this vital premium-adjusting information. The solution also helps detect and deter vehicle or trailer theft – as soon as a theft occurs, monitoring personnel can alert the appropriate authorities, providing an exact location.“With more and more insurance companies and major fleet operators interested in monitoring driver behaviour on the grounds of road safety, efficient logistics and costs, the market for this type of device and associated e-business services is growing rapidly within Italy and the rest of Europe,” says Franco.“The insurance companies are especially interested in the pay-per-use and pay-as-you-drive applications while other organisations employ the technology for road user charging.”“One million vehicles in Italy currently carry such devices and forecasts indicate that the European market will increase tenfold by 2014.However, for our technology to work effectively, we needed a highly reliable wireless data network to carry the information between the vehicles and monitoring stations.”
Case Study
Safety First with Folksam
The competitiveness of the car insurance market is driving UBI growth as a means for insurance companies to differentiate their customer propositions as well as improving operational efficiency. An insurance model - usage-based insurance ("UBI") - offers possibilities for insurers to do more efficient market segmentation and accurate risk assessment and pricing. Insurers require an IoT solution for the purpose of data collection and performance analysis
Case Study
Smooth Transition to Energy Savings
The building was equipped with four end-of-life Trane water cooled chillers, located in the basement. Johnson Controls installed four York water cooled centrifugal chillers with unit mounted variable speed drives and a total installed cooling capacity of 6,8 MW. Each chiller has a capacity of 1,6 MW (variable to 1.9MW depending upon condenser water temperatures). Johnson Controls needed to design the equipment in such way that it would fit the dimensional constraints of the existing plant area and plant access route but also the specific performance requirements of the client. Morgan Stanley required the chiller plant to match the building load profile, turn down to match the low load requirement when needed and provide an improvement in the Energy Efficiency Ratio across the entire operating range. Other requirements were a reduction in the chiller noise level to improve the working environment in the plant room and a wide operating envelope coupled with intelligent controls to allow possible variation in both flow rate and temperature. The latter was needed to leverage increased capacity from a reduced number of machines during the different installation phases and allow future enhancement to a variable primary flow system.
Case Study
Automated Pallet Labeling Solution for SPR Packaging
SPR Packaging, an American supplier of packaging solutions, was in search of an automated pallet labeling solution that could meet their immediate and future needs. They aimed to equip their lines with automatic printer applicators, but also required a solution that could interface with their accounting software. The challenge was to find a system that could read a 2D code on pallets at the stretch wrapper, track the pallet, and flag any pallets with unread barcodes for inspection. The pallets could be single or double stacked, and the system needed to be able to differentiate between the two. SPR Packaging sought a system integrator with extensive experience in advanced printing and tracking solutions to provide a complete traceability system.
Case Study
Transforming insurance pricing while improving driver safety
The Internet of Things (IoT) is revolutionizing the car insurance industry on a scale not seen since the introduction of the car itself. For decades, premiums have been calculated using proxy-based risk assessment models and historical data. Today, a growing number of innovative companies such as Quebec-based Industrielle Alliance are moving to usage-based insurance (UBI) models, driven by the advancement of telematics technologies and smart tracking devices.
Case Study
MasterCard Improves Customer Experience Through Self-Service Data Prep
Derek Madison, Leader of Business Financial Support at MasterCard, oversees the validation of transactions and cash between two systems, whether they’re MasterCard owned or not. He was charged with identifying new ways to increase efficiency and improve MasterCard processes. At the outset, the 13-person team had to manually reconcile system interfaces using reports that resided on the company’s mainframe. Their first order of business each day was to print 20-30 individual, multi-page reports. Using a ruler to keep their place within each report, they would then hand-key the relevant data, line by line, into Excel for validation. “We’re talking about a task that took 40-80 hours each week,” recalls Madison, “As a growing company with rapidly expanding product offerings, we had to find a better way to prepare this data for analysis.”
