ICICI Bank : Payout Automation of Products in Assets

Thisproject is implemented to automate the pay out of debt srevice agencies for its various depts

Monday, June 01, 2009

Print

Comment

Email

Digg

Del.icio.us

Reddit

Twitter

This is an in-house implementation at ICICI bank targeted for its Debt Service team and agencies of ICICI bank for Debt Service Management Group (DSMG). Through this project, ICICI bank has automated pay out of debt service agencies for its various departments. These payouts are based on the performance of the collection agencies which is measured across 8 parameters.

Calculations of the payouts were traditionally bottom up and the agency would raise a bill for the amount that needs to be remunerated. The data collector task was a time consuming and a tedious task. The entire process of getting the bills from the vendors, auditing the data, getting the bills processed and payments effected was anywhere from a fortnight to a 4 -month long process.

To tackle these challenges, ICICI bank implemented Payout Automation of Products in Assets (PAPA). This project uses top down approach instead of bottom up.

Now vendors dont have to raise any bills. All calculations are done by Transaction Business Management System (TBMS) engine based on the data available in Collection Activity Processing System (CAPS).

According to ICICI bank, after implementation of this project, process time has been drastically reduced from more than 2 months to less than 3-4 days and 3500 agencies and over 25000 collection agents have been benefited by this project.

Page(s)   1