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Electronic Cheque Clearance e-Processing Time Reduction
Case Studies   »  
(May 25, 2020)
     

This paper is based on the project which was aimed at improving the efficiency of Electronic Cheque Clearance e-Processing Time Reduction for one of our clients, a leading private sector Bank in India who is into a full service commercial banking and serves Corporate and Retail Customers in Financial Markets, Corporate Finance, Branch Banking, Investment Banking, Business Transaction Banking and Wealth Management for clients across the country. Cheque processing is one of the critical activities in our client’s day to day business as it has a direct impact on end user satisfaction. Electronic Cheque Processing is one of the most cost effective and hassle free solutions. Security and reliability are the greatest benefits. However, the Electronic Cheque Clearance Processing was inconsistent and was not up to the expectations of our client’s customers. Lean tenets like Value Stream Mapping, 5 Why, Cause and Effect Diagram and Mistake Proofing were used to mitigate the challenges noticed in Electronic Cheque Clearance. Lean approach ensured significant process improvement. Post this improvement initiative, it is noticed that Electronic Cheque Clearance time is significantly reduced. This led to reduction in revenue leakage and improved customer satisfaction. Also the time spent on resolving Electronic Cheque Clearance related queries was completely eliminated.

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