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Case Study

Digitize your Onboarding Processes

We made it possible through

7+

Team Members

05

Months of development

Reduced TAT from

30Days to 3Days

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React JS
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Java Springboot
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Oracle

Technologies we used

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About the client

A world-class bank, guided by ethics, powered by technology, and to touch the lives of millions in a positive way by providing them high-quality banking services. It also offers high-quality technology-enabled corporate banking solutions, contemporary cash management solutions, fleet cards, FASTag solutions, and wealth management solutions.

Understanding the Challenges

01

Manual onboarding procedure for businesses was a hustle and time-consuming.

02

The chances of making a mistake when recording crucial information were very high.

03

The process encompassed numerous agencies, increasing the risk that resulted in the loss of information.

04

The major challenge was that Turn Around Time (TAT) for a single request's implementation took one and a half months.

05

They needed an optimized platform so that multiple users can work on the same request at once. 

How SynoFS solved it

  • In order to arrive at the most optimized and effective solution, the SynoFS team effectively collaborated with the business team and IT team of the bank.

  • The SynoFS team managed every step of the  SDLC(Software Development Lifecycle), from gathering project requirements to project maintenance which created and managed the onboarding process efficiently. 

  • To make it simpler for the stakeholders to comprehend the solution, we have developed visualizations, which speed up the decision-making process.

  • Every individual involved in the process was given access to a single platform, preventing information loss.

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  • The entire Cash Management Services (CMS) onboarding process has been completely digitalized.

  • We improved the user experience and efficiency of the onboarding procedure.

  • Turn Around Time (TAT) for implementing a request has been reduced from 30 days to 3 days.

  • We have demonstrated our aptitude for technology and our familiarity with banking platforms and working, due to which we could provide an efficient solution.

  • Along the way, the SynoFS team has been proactive, upbeat, and disciplined.

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With SynoFS, Digitize your Banking Processes

Provided the best digital solutions to more than 10+ clients including banks and other financial institutions

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