Bank of India leverages Microsoft SharePoint to automate loans and applications

Bank of India leverages Microsoft SharePoint to automate loans and applications

Bank of India, the leading national bank in India, has deployed Microsoft SharePoint, a web application platform to automate the loan and application deposit process across 4,100 Indian branches and 50 zonal offices.

Adopting this technology in 15 different loan application forms, Bank of India has reduced the turn-around time by over 50%. This improvement will gradually lead to customer satisfaction, and increased operational efficiency, the giant believes.

"Customer satisfaction is our utmost priority and we want to cater all generation of customers irrespective of the location they reside in. To fulfill this goal, we wanted to digitize the application process, automate MIS reporting, and set up a collaborative portal for information sharing within the organization." said Pushpinder Singh, GM - IT, Bank of India.

Bank of India has reduced the turn-around time by over 50%

So why did the Bank of India choose Microsoft SharePoint? The reasoning has to do with the familiarity, ease, and out of box functionality that comes with Microsoft SharePoint.

"We decided to choose Microsoft SharePoint for its familiarity, ease of use and out-of-the-box functionalities that allow collaboration with cross-functional teams in branches all over India. We have been successful in enhancing customer satisfaction by easing the loan application process, reducing the turn-around time by 50 percent and serving customers of all age groups," he added.

Employees now have access to a portal called "StarDesk" which provides collaboration for knowledge and information sharing, along with important developments and news. Not only that, the bank has now digitized all its board meeting proceedings with the help of Microsoft SharePoint. 

This adoption will help the company save turn-around time, something that will obviously make customers happy. The bank has received over 250 applications within a week, which suggests that more customers will be flocking their way soon. Besides, by using SharePoint, the company will be able to establish a more sophisticated system among its employees and customers.