The Next Applied
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ACCELERATED AND STREAMLINED CASH WITHDRAWAL PROCESS THROUGH STRAIGHT THROUGH PROCESSING DISTRIBUTION

CLIENT

 

An American multinational finance and insurance corporation with operations in over 80 countries and jurisdictions.

BUSINESS CHALLENGES

The end customers were struggling to withdraw money from their Annuity/Mutual Funds accounts, as many of the employer plans involved a paper-based withdrawal process, which was complex and cumbersome for the customers and causing a delay in payments. The client wanted to enhance the customer's digital experience by streamlining and accelerating the cash withdrawal process while minimizing or eliminating the manual intervention.

SOLUTION

 

Mphasis, being a trusted partner, offered the solution to

  • Implement a Digital Experience management platform
  • Enable API Platform for plug and play from various systems
  • Build new simplified distribution process to create a conversation that will allow the client to take action with confidence
  • Sync the client's experience with the website's new look and tone
  • Expand the functionality by adding guidance where signatures and/or notary is required so the client can print, sign, and upload forms for subsequent backend scanning into the system
  • Build online integration for Systematic Withdrawal request online, and pre-filled data

BUSINESS BENEFITS

Enabled more customers transactions through the "Straight Through Processing Distributions"

Enhanced Customer's digital client experience by minimizing the manual intervention

Increased Market rating with Dalbar and Corporate Insights

Enhanced client's competitive bid process capabilities through digitization