Money & Banking

Indian Bank launches its first Customer Acquisition & Processing Centre in Chennai

Our Bureau Chennai | Updated on October 05, 2020

Chennai-headquartered public sector lender Indian Bank on Monday opened its first centralised Customer Acquisition & Processing Centre (CAPC) in Chennai.

Its branches in Tamil Nadu and Puducherry will be brought under CAPC before December 2020 and other branches across the country will be brought under the CAPCs in a phased manner, said Executive Director of the Bank MK Bhattacharya, who inaugurated the CAPC, here.

Over the next 30 days, 40 branches in Chennai will be brought under CAPC.

He said the account opening process at branch is a very critical, sensitive and time bound exercise. Regulators expect banks to have a consolidated view of customers and their transactions across businesses and jurisdictions.

Capturing accurate data at the time of customer on-boarding is of crucial importance for reducing duplication of work, risk profiling of customers, data accuracy for MIS. The accounts opened with due diligence reduces the risk of non-compliance from the regulator’s point of view, he added.

Bhattacharya said with such a centralised unit, it will take less time for branches to open the accounts.

Chennai will be the nerve centre for about 1,000 branches, 1/6th of its total number,” he said.

Published on October 05, 2020

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