CRM for Bank of India

Essar Group promoted Aegis, a global outsourcing and technology services player has entered into a five-year strategic partnership with Bank of India (BoI) to provide support for the bank's multi-channel customer lifecycle management. The company also launched a 250-seat delivery center in Mumbai purely focused around banking and financial services clients.

The partnership enables Aegis to provide support and manage BoI's end-to-end customer lifecycle value chain, including multi-channel customer on-boarding and service operations, data management and collections. It will also provide a customer relationship management (CRM) platform, including core banking features and the knowledge portal. The scope of the contract includes support for all banking products and services such as deposits operations, banking processes, lending services, insurance and investment banking, account and card services. The new delivery centre in Mumbai will provide customer contact management, marketing services, recovery function, fulfillment and transaction support among other services.

Bank of India (BoI), one of India's largest public sector banks with over 4,500 branches and presence across 22 countries.

According to VR Iyer, Chairperson and MD, Bank of India, "Entering into an alliance with Aegis will enable 65 mn customers of the Bank to avail services without having to visit or contact the branches. This arrangement will reinforce the continuous endeavors we have been making for enhancing customer excellence. We have taken a lot of initiatives in the last one year to reduce our non-performing assets. This partnership will be in addition to our efforts and will help improve our recovery process."

Sandip Sen, Global CEO, Aegis said, "The opportunity for customer relationship management BPO within the Indian banking and financial sector is large and Aegis has, within a short timeframe, built a strong BPO practice focused around Indian banking and financial institutions. With a singular approach of customer experience, Aegis will deliver higher-value services to help Bank of India drive operational excellence, and enable its management team to maximize customer experience."

Under the terms of the contract, Aegis will provide customer contact management, marketing services, recovery function, fulfillment and transaction support and other services through its new state-of-the-art delivery center in Mumbai. This engagement will initially have about 150 personnel, which would then be scaled up to 500 people across two centers-Mumbai and Bhopal. Aegis has earlier tied up with banks like Union Bank of India and Bank of Baroda to provide customer lifecycle management and other banking services.