Overview
Formerly Continental Acceptances Ltd and Cal Merchant Bank, CalBank provides world-class financial solutions to Ghana’s banking sector. With 29 branches in Ghana, CalBank, headquartered in Accra, provides a wide range of services to both large corporations and individuals. Ever since its founding in 1990, the bank has continued to offer specialized retail banking services with its customer-centric approach in line with its ‘Forward Together’ slogan.
Challenges
With the growing customer base and an ever-increasing volume of transactions, the lack of a proper queue management system has posed some challenges for both CalBank and its customers. On the customers’ side, they faced long queues and wait times before they can transact with the bank teller even for transactions that should not require teller interaction. As for the bank, the long queue of customers took over much-needed branch space. The over-crowding at the branch proved a challenge to manage. The use of transaction slips for each transaction resulted in not only slowing the time taken to service the customers, but it also created additional paperwork for the bank staff, which proved inefficient and unproductive.
Goals of the Project
Based on the current problems faced by CalBank and the desired improvements required to alleviate some of their challenges, a set of goals were identified:
To reduce the turnaround and waiting time it takes to attend to a customer per transaction.
To increase transaction volumes by providing faster and easier interaction with customers.
To improve the efficiency and productivity of the bank staff by digitizing manual processes and managing each transaction they have.
To reduce or completely remove in-branch queues through pre-booking of transactions.
The Solution
After a rigorous assessment of available solutions offered by vendors, CalBank selected Bank-Genie’s Genie-Q as the solution to the challenges they faced. Genie-Q is a Smart Queue Management Solution that enables customers to pre-book their transactions on their mobile devices or at a branch kiosk. With customers only receiving a queue number after pre-filling their transaction request, when the customer is in front of the teller, the teller has on hand, the validated details of the transaction to be processed thereby shortening the interaction time between the teller and customer. Genie Q’s other features include Pre-Booking of Appointments, Predictive Analytics, Multi-Factor Authentication, and System Integration. By working closely with CalBank, Bank-Genie delivered the solution in a span of a year with a team size of three.
What’s in it for our clients
Pre-Set Appointments
Reduced Wait Times
Shorter Interaction Time with Bank Tellers
Improved Customer Service
Better Customer Experience
Results
Through the implementation of a Smart Queue Management solution or Genie-Q, CalBank has reduced the turnaround time for each customer by more than 50% — resulting in a greater volume of transactions processed and customers served per branch, per day. In addition, Bank-Genie digitized several manual processes for CalBank like Funds Transfer, Balance Inquiry, Check Book Requisition, and other requests that could be done without any intervention by bank staff. To date, the implementation of Genie-Q has been rolled out to 21 branches and the bank has already increased its daily volumes by more than 5,500 transactions. The increase in transaction volumes has not impacted the bank staff’s workload. In fact, staff productivity has increased due to the digitization of manual processes as tellers needed only to focus on transactions that needed their attention.
Meanwhile, the customers’ service levels and overall satisfaction increased as they acknowledged the quicker transaction times and reduced waiting times. Overall, the implementation of Genie-Q has resulted in numerous benefits for both the bank and its customers, to the delight of CalBank. With Genie-Q, the future bodes well for CalBank. The solution could be delivered on mobile devices to offer many more features that bring about even greater customer service levels such as the possibility to pre-book appointments and being guided to the nearest and / or least crowded branch.
About Bank-Genie
Bank-Genie Pte. Ltd. is a Singapore-based company incorporated in 2016. For banks and financial institutions who are driving towards digital transformation, Bank-Genie is a future-focused technology partner that helps enrichen the banking experience.
Bank-Genie has a proven record across markets of Asia and Africa with its Interceptive Banking Technology. Bank-Genie Pte Ltd is funded by SBI Ven Capital Pte Ltd and FMO, the Dutch Development Bank.