Overview

UCB started its operation in mid-1983 and has since been able to establish one of the largest networks of 85 branches among the first-generation banks in the private sector. The bank has already made a distinct mark in the realm of Private Sector Banking through personalized service, innovative practices, dynamic approach, and efficient management.

i-exceed is a software development company that specializes in developing innovative technology solutions for a wide range of industries, including banking and finance, healthcare, education, and more. The company provides a comprehensive range of software development services, including custom software development, product engineering, cloud computing, and mobile application development.

UCB partnered with i-exceed Technology Solutions for the implementation of a digital customer onboarding platform for customers to gain access to the bank’s digital banking services. The onboarding solution was later named UClick. Through Uclick, any Bangladeshi citizen of the age of 18 years or above can open an account at UCB anytime and anywhere using his/her National Identity Card (NID) card in a very short time.

Implementation Process

The project timeline was approximately three months. The implementation team deployed by i-exceed consisted of nine resources – 1 Project Manager, 1 Business Analyst, 1 Technical Team Lead, 4 Developers, 1 UI/UX developer, 1 QA Tester. The UClick application was created an onboarding process for eight banking products including Savings Accounts, Current Account, Credit Card, Deposits, Personal Loan, Home Loan, and Auto Loan.

The project UClick is to have an online internet-based channel for new and existing customers to apply online for Savings and Current Account, Credit Card, Deposits, Personal Loan, Home Loan, Auto Loan, without visiting the branch. As of now Savings and Current Account Module is still in completion. Before the project implementation, the account opening process was manual and customer needed to visit the branch multiple times to complete the process. Presently, customer can apply to any banking service and product using simple and user-friendly steps to apply online. Customer can apply online at any anytime on his convenience. Customer address is verified online along with the QR CODE in the welcome letter. The Account credentials are created in CBS instantly after submission. The application is submitted to the Verification departments to perform the required checks and the approval/rejection decision can be made. The initial deposit for account activation is also transacted using online transfers.

Benefits Achieved

Initially, customers had to make multiple visits to the branch to complete the process of opening a savings or a loan account. However, the use of the Appzillion low code platform provided UCB with a scalable and flexible alternative. The UClick application was brought to market in 3 months and was capable of reducing the customer onboarding time to less than 5 min as compared to days previously. The low customer onboarding time was mainly attributed to the use of biometrics for identity verification and use of QR codes for address verification. As a result, the volume of customers acquired for UCB also increased leading to a wider customer base and also financial inclusion, which was a major objective for the bank.

Conclusion

The implementation of UClick simplified the customer onboarding process for the bank and made it more customer centric. Customers did not have any obligations to visit branches to complete their onboarding and were given the perk of completing it at the comfort of their homes or any place they find convenient. The agile methodology used through the Appzillon platform allowed the bank to launch UClick within 3 months with capabilities of continuous innovation and improvement. Eventually, the bank incorporated the inclusion of saving accounts into UClick at a slightly later stage after launch which showcased the flexibility and scalability of the application.

Key Facts:

Bank Name: United Commercial Bank Ltd. (UCB)
Bank Founded In: 1983
Bank HQ: Dhaka, Bangladesh
Vendor Name: i-exceed Technology Solutions
Solution Implemented: Appzillon 3.7.6
Timeline: 3 months