Banking Operations

Since the 1990s, banks have been improving their efficiency ratios by acquiring or upgrading
technology, cost cutting and consolidation. But now that further improvements are proving
elusive, costs have been trimmed to the minimum and consolidation gains have waned, banks
are under pressure to improve earnings. Outsourcing has thus becomes a way of moving banks’
scarce resources away from trivial operations to value-added services, such as business
strategy and execution, new opportunity identification and pricing, business results and
interpretation.

NeoLotex has been acting as a virtual back office to many banks, NBFCs & Microfinances.
Specialization coupled with greater economy of scale enables NeoLotex to provide services at a
much lower cost that in turn reduces a bank’s operating costs and increases its competitive
advantage. NeoLotex make extensive investments in technology, methodologies and people,
which provide banks with a wider range of capabilities. Freed from devoting their energy to
areas that are not within their expertise, banks can now focus their resources on meeting
customers’ needs.

Since banking operations are sensitive, the primary barrier to outsourcing in banks is security.
NeoLotex is indeed a credible outsourcing provider who, besides making a good cultural match,
is committed to ongoing technology improvement who can add value to the bank’s operations.
We leverage our experience, expertise, integrity and long-term commitment to the industry.
NeoLotex undertake several functional activities right from data entry, data checking, Account
Opening (Savings Bank account, Current Account and CD(FD&RD)),Customer data
modification, Payments (Reconciliation ,GL Entry posting, Return transaction monitoring, High
value transaction monitoring, NEFT complaint handling (raised through CRM, call center,
branches, other bank ),IFSC code updation of new branches , TDS, CRM, mailing cheque
books, NACH (MMS image verification within NPCI TAT, mirror GL entry posting,
Reconciliation, Aadhar Mapping), and Cards (Dispute management, Monitoring ON-US ATM
replenishment , EOD, Collection & analysis of CBR report, Invoice Analysis)


Advantages

  • Improving operational performance.
  • Avoiding capital expenditure; Reducing overheads and operating costs
  • Saving manpower and training costs.
  • Improving speed, service and efficiency.
  • Access to specialized skills.
  • Avoiding the cost of ‘chasing technology’.
  • Leveraging the provider’s extensive investment in technology and methodologies to reduce the risk of technology obsolescence.



Satisfied Clients