SUCCESS STORY

Indian bank speeds up customer onboarding with Samsung tools and devices

Karur Vysya Bank wanted to modernize its operations as part of a digital transformation initiative. To help it speed services and also appeal to the Internet-savvy younger generation, the bank wanted a mobile solution it could use to onboard new customers and verify loan applicants at any location. The challenge for the bank was to secure and manage the mobile devices.
About the company
  • Industry: Finance
  • Company size: Large
  • Location: India
 

Headquartered in Karur in Tamil Nadu, India, Karur Vysya Bank is a 100-year-old financial institution that primarily operates in treasury, corporate/wholesale banking and retail banking segments. One of India’s leading banks, KV Bank has nearly 800 branches serving millions of customers across the country.

Knox solutions used
CHALLENGE

Upgrade digital capabilities to better serve customers

Karur Vysya Bank was ready to go digital for its products and processes and lay the groundwork for new banking initiatives.

Traditional practices were showing their age. Opening new accounts at Karur Vysya Bank, for example, required a great deal of manual work and paper processes. The bank also lacked access to a central database to authenticate customer identities when processing loans.

As part of its digital transformation journey, the bank wanted to digitally onboard customers and verify loan applicants at any location. The initiative would lay important groundwork to attract younger, tech-savvy customers who choose banking partners partly based on convenience:

  • Streamlining bank processes would accelerate customer transactions and allow employees to focus more on building bank business rather than completing routine paperwork.
  • Combining personal banking contacts with a digital experience would give customers tailored service when they need it, along with greater transaction speed for convenience.
  • Building a digital-drive banking organization would enable the bank to offer the newest financial services products and adapt to changing regulations and customer needs.

Before it could add mobile devices, however, the bank needed to be able to securely distribute digital applications—India’s central banking institution—regulates the fast-growing Indian financial-services industry and has tightened cybersecurity guidelines. For example, it now requires two-factor authentication on mobile devices used by banks, a requirement that Karur Vysya Bank could not easily meet with its older infrastructure.

SOLUTION

Samsung devices and solutions give bank employees modern banking tools

Karur Vysya Bank understood the value of moving to the powerful Samsung Knox Manage device-management solution, which offers multiple capabilities to manage devices and device usage remotely.

Consistent device deployment

  • The bank can provision devices to automatically download the latest bank apps and security policies on activation, and push updates to apps and security patches remotely.
  • Security features help the bank prevent factory reset and access to business data via USB, firmware recovery, and more.

Easy app distribution and updates

  • The bank created a KV Bank business app store
    that users can access to find additional allowlisted applications suitable for business use. Users also can initiate updates with just one click.
  • Meanwhile, the bank uses Knox Manage to restrict device access to external app stores that users might otherwise visit.

Ability to control device usage

  • Using the solution’s ProKiosk mode, the bank limits device use to business activities. The feature also enables two-factor authentication when it detects a user unlocking the device, and then requires a password.
  • Device policies help secure data. Only authorized bank employees can access sensitive information, and then only on a secure bank website. This is a key step in shifting to a digital infrastructure. The bank can also track and monitor devices to help prevent theft and device loss.

“This is a time of opportunity,” says Shri S. Sekar, general manager (IT) of Karur Vysya Bank. “Cloud-based services from Samsung help us reshape our ability to conduct business. We are now able to easily to control and secure new devices to speed everyday processes.”

With the Samsung solution, Karur Vysya Bank was able to offer its employees devices with up-to-date banking applications and security.

Cloud-based services from Samsung help us reshape our ability to conduct business. We are now able to easily control and secure the new devices to speed everyday processes.

-Shri S. Sekar, General Manager (IT) & CIO, Karur Vysya Bank
RESULTS

Now that Karur Vysya Bank has deployed its modern digital solution with the help of Samsung’s powerful Knox Manage, the bank can deliver a rich customer experience and enable customer growth. The bank has realized multiple benefits as it continues the process of digital transformation:

  • Greater productivity

    Bank employees now spend less time on routine paperwork and more time meeting specific customer needs and advancing Karur Vysya Bank’s business goals. For instance, it the bank formerly needed up to two days to process a loan application. Now that can be achieved in as little as 30 minutes.

  • Improved customer experience

    The bank’s customers now receive faster, more personalized service and have their financial needs met more quickly.

  • Better security

    Karur Vysya Bank is now able to more easily meet banking requirements for two-factor authentication of employees. In addition, the bank’s mobile devices are secured against unauthorized use, and better protected against loss or theft.

  • Cost savings

    Eliminating paperwork and speeding customer transactions means the bank not only saves money, it earns more as well.

Karur Vysya Bank and Samsung are continuing their collaboration. They are discussing future technology initiatives that can be best used by the bank on its digital transformation journey.

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