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Developed in conjunction with Ext-Joom.com
Vision – Instant Profit Enhancer
Income or Revenue Leakage has been a universal phenomenon, eating into the profit margins of many Banks. In this digital economy, Banks are delivering many products and services to their customers through various channels and these channels are increasing by the day. In this process there is leakage of Income (Fees, Commissions, Incorrect Price, Missing Transactions, Un-priced Transactions etc.) across different channels and systems on a daily basis.
The banks’ inability to realize revenue in such cases, where services are not charged at all or are charged at a loss amounts to leakage in revenue. Revenue Leakage could happen at all or any of the stages of the customer engagement cycle from Sales, Service Delivery, Transaction Processing, Billing and Service Closure.
Though most Bankers readily acknowledge the prevalence of revenue leakage, in most cases, they are not able to pinpoint its source or quantity and mostly work on hunch or qualitative data. Evidently, banks need help in identifying the sources/points of leakage, quantifying the volume of revenue loss and also in minimizing/avoiding revenue leakage. Establishing adequate control mechanisms and reporting facilities to predict or identify leakage points is the critical requirement at this juncture.
Vision – Instant Profit Enhancer (IPE) Solution is a scalable and highly adaptive solution that enables banks to identify all points of income leakage across the customer engagement cycle and ensure that these points of leakage are addressed in an systematic and automated manner which instantly boosts the banks profit, increases operational efficiencies and enhances customer experience.
Vision IPE integrates with all the product processors and other relevant systems at the bank (Cards system, Collection platform, ATM, Payment Gateway, RTGS, Internet Banking, Mobile solutions etc.) in a seamless manner and plugs the holes that have been resulting in Income leakage over many years. With Vision IPE’s in-built reporting suite you will now get full visibility on every transaction with your customers and not loose any income in future.
With its powerful and tangible business benefits, the ROI on the small investment you make on this platform is repaid many times over within a few weeks rather than months or years. That’s why we call it the Instant Profit Enhancer!