Customer Spotlight

Axis Bank

Automating Account Opening and KYC operations generate cost savings and operational excellence.
Read how the third-largest private sector bank in India automates Account Opening and KYC operations, reducing onboarding times and labor costs.
Instant Account Opening and KYC operations

Axis Bank opens 300,000 new accounts each month. The conventional approach required a team to review 5 essential documents for each new account, each review taking 6-10 minutes. The bank needed 200 employees to perform this mundane work.

Through automating the account opening process, the bank aimed to achieve several critical goals, including:

  • Decreasing reliance on manual work
  • Improving the morale of employees
  • Reducing account opening times
  • Ensuring regulatory compliance

Using WorkFusion’s automation platform, within only 8 weeks, Axis Bank was able to automate and streamline the around-the-clock onboarding process that conducts compliance checks with greater efficiency and fewer errors.

The bank is expanding automation to other areas and new functions, such as check processing: WorkFusion’s platform is now handling 170,000 checks per day.

Read more about Axis Bank’s automation journey here.

reduction in account opening time
reduction in errors
reduction in labor costs
improvement in customer satisfaction
You can achieve great results, too.