THE CASE STUDIES OF VARIOUS LIVE CASES PROBLEM RELATED TO FINANCIAL SERVICES

IN THE SUBJECT OF:Management of Financial Services Submitted towards partial fulfillment of Masters in Business Administration [MBA] Gujarat Technological University 2012-2014

SUBMITTED BY:Name Roll No. Patel Jay M. 06 GUIDED BY:Mr. Jitendra Prajapati Faculty Member (KSMCS)

SUBMITTED TO:K. P. PATEL SCHOOL OF MANAGEMENT & COMPUTER STUDIES M.B.A. PROGRAMME JIVANSHILP CAMPUS, KAPADVANJ -387620

Case 1 : Funds and Liability Reconciliation for Mutual Funds.

This case study is related with the financial service organization Computronics Financial Services (India) Ltd. for the find & liability reconciliation of Mutual Funds in India as described by the SBI as follows. The Client: State Bank of India Mutual Fund (SBIMF) is one of the leading Mutual Fund having 29 Investor Service Centres (ISCs) across the country. It has a corpus of about Rs 50 billion ($125 million) from approximately 50 different schemes having more than a million investors. The inflow of funds is from their ISC's. The funds collected are subsequently transferred to their main account at SBIMF corporate office. Similarly, they issue cheques for dividend, interest, brokerage and redemption on regular intervals. The Challenge: SBIMF wanted their investor applications to be processed, and the statement of account to be dispatched on the same day. This was possible only on getting credit confirmation from the bank i.e. the investor's cheques getting cleared and deposited. Fund Reconciliation: The funds were collected under various schemes through ISC's and the same was deposited in various banks across the country. Depending on deposited amount the investor was allotted units calculated on the prevailing NAV (Net Asset Value) of that day. To reach the final corpus for the days transaction, for a particular scheme one had to reconcile all the cleared and uncleared cheques. Liability Reconciliation: Similar to fund reconciliation, all cheques issued to investors and brokers had to be reconciled. Before issuing the cheques one had to make sure that the required funds were available in the scheme account.

 The Solution: Computronics followed up with SBIMF ISC's to get clearance of wrong credits and pending applications. Close vigilance of bank accounts of all schemes led to faster reconciliation. During peak periods we managed more than a 1000 cheques a day. The Benefits: Due to Computronics close monitoring of the reconciliation process SBIMF was able to mobilize and invest their fund in different securities depending on the scheme features. This also led to High Net Investors being able to invest and redeem faster.

Case : 2 SBI Mutual Fund

The profound competition in Indias financial services sector and high level of expectation from customers in terms of service and user experience are some of the business challenges. To address the challenges whilst ensuring brand equity and profitability, SBI Mutual decided on the deployment of speech-enabled IVR service. This project is unique and stands out as a first project in the Indian Financial Services industry to deploy a speech recognition solution. The Dimension Data team had to listen to hundreds of customer interactions to find the trends in speaker dialects and requests for NAV of the mutual funds. The NAV requests were unique as customers would use the full name, short form or abbreviation for the fund names. Before the solution goes live, the team had conducted test trials for over 2000 calls so as to fine tune the application for the different dialects and accuracy. Adding voice enabled solutions means increasing our capability to offer more options or channels of doing business to our customers. It also means ease of access and thereby extended customer service.

Solution The Interactive Voice Response with Speech Engine will prompt the caller for the fund name. The system will recognize the fund, retrieve the latest NAV value from back-end database system and play the NAV values to the caller. The system allows callers to request for the NAV information of up to five funds. At the core of its speech-enabled solution is Nuance OSR with Cisco IP IVR 5.0, which enables SBI Mutual fund callers to access the relevant NAV information at any time. At the same time the system provide reports on caller interactions, giving SBI MF visibility into its customers preferences for

using the system. With help from Dimension Data and Nuance, our speechenabled Direct Customer Inquiry system achieved our customer service goals of increasing self-service, allowing access to data after business hours, automating standard requests, and even freeing up call agents. In using new technologies such as speech recognition, todays IVR systems have the potential to allow organizations to automate a wide variety of complex customer interaction tasks at a much lower cost than an agent handled transaction. said a spokesperson of SBI Mutual Funds.