The Problem: In order to comply with the ASBA requirements laid down by SEBI; an application had to be envisaged to capture application details of investors. The goal was to have in place a working model of Application Capture in the Cordys BPM application which can be used by the bank operations to capture the applications received for various IPO's/QPO's.
The Solution: A system based workflow solution was deployed for document movement and inter-team coordination. The data for stock exchange upload shall be generated in a similar form as single/bulk application modules.
The Result: It saved minimum 12 man-hours per day & per IPO announced. Also saved lot of office infrastructure costs with regards to communication & follow-ups on phone, email, etc. Reduction in time spent on o Follow-ups with different teams o File conversions/creations for uploads into FCR/Stock Exchange Minimization of errors and miss-outs, Efficient processing of FD creation, ASBA applications , Minimization of mail traffic between different teams were some other benefits.