Serve credit card customers using Internet

With the banking sector undergoing an explosive growth the amount of data

with the banks are growing by huge volumes daily. Each service offered by the

bank generates its own set of data which needs to be processed and provider to

the customers.

Company

Citibank started its India operations in 1902 and is headquartered out of

Mumbai. was the first international banking company to enter India. It started

its operations in Kolkata in 1858. Citibank is one of the largest international

banking groups in India.

One of the first foreign banks to start operations in India and to launch

credit card facility Citibank has over 1.5 million credit card holders in India.

In recent years the banking industry in India has shown a phenomenal growth,

which is reflected in the growth shown by the Citibank. The credit card segment

in India has seen rapid growth. Citibank is the first bank in India to launch

credit card facility and has over 1.5 million credit card holders in India.

Challenge

Citibank credit card division is based out of Chennai. It has over 15

different types of credit card on offer today with tie-ups with Master , Visa,

Gold and Diners Card. The individual statement of accounts is generated at the

Chennai office from where it is couriered to the regional office from where the

dispatch to individual customers occurs. This complete process requires a time

frame of about 8-10 days.

In addition there is a huge cost associated with the generation, printing and

distribution of the statements. The existing system would store details of

transactions more than three months old in the offline mode. This translates

into delay in providing customers details of old transactions when requested.

Indian banking regulations demand that data be maintained for a couple of

years. This means high storage requirement.

The Chosen Solution and Implementation

Citibank after due diligence selected Newgens Gold Reports solution to

maintain its Computer generated reports. The solution uses the internet as the

means of delivery.

To process the information the credit card department started the computer

generated reports division in Chennai. All the account statements are collected

centrally here. A database with pre specified fields were created. The details

are indexed and fed into specified fields. This information is then compressed

and stored on the web server.

Security is a major consideration where customer data is concerned. The

security of data is ensured using the in-built multi level security solutions

such as firewalls, filtering routers and encryption. This ensures the complete

safety of data transmitted and ensures that only customers with correct UserID

and passwords are able to view the information.

Significant advantages

The solution allowed Citibank to move its credit card information online. A

customer could log online and view statement online. All statements were also

delivered by email. This allowed to cut down costs related to printing and

dispatching of account statements.

The interface allowed the customers to obtain detailed report and mark points

on the report for future reference or clarification. Even the historical

information is available online allowing for quick retrieval of historical data.

The system is more flexible and allow employees to query an obtain any detail

in a short span of time. Availability of quick information translates into

faster customer service which means higher customer satisfaction.