Technology Upgradation – Chaitanya Godavari Grameena Bank

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Case Study

Technology Upgradation

Introduction:

CCGB is heralded for providing 21 out of 22 services as envisaged by Finance Minister. CCGB provides a comprehensive range of 22 services to fulfil diverse financial requirements. 

Problems:

Security and Integrity of the Banking System was a problem. With the increasing importance of digital security, they have set up a dedicated Cybersecurity Operations Centre and assessing cyber threats was a problem. Ensuring the protection of our digital assets and the personal information of customers. The CSOC is equipped with advanced threat detection capabilities to identify and mitigate potential security risks. 

Solutions:

Implemented a state- of- the art Loan Origination system to automate and optimize the loan application system. LOS enhances the speed and accuracy of loan application ensuring customer application experience. LOS processed 2,35,215 loan accounts and 3073 crores were processed by. System primarily focused on hold loan and crop loan. 

Challenges:

Increasing digital security threats was a major challenge and there was a need for increasing importance of digital security. Monitoring, assessing and defending against cyber threats was also a challenge.

Innovation:

CCGB launched internet banking facility that is user friendly with cutting edge technology, ensuring safety and accessibility across devices. It emphasizes security through advance features such as multi- factor authentication and encryption for data protection.

Outcomes:

Using SAAS model, Video KYC service launched and introduction of Video KYC for remote and efficient identity verification. WhatsApp Banking launched to offer basic banking operations and WhatsApp Banking service seen 59,494 registrations. The project enhances digital banking user-friendliness and engagement. 

Opportunities:

This project is highly replicated and scalable. With the increasing importance of digital security, they have set up a dedicated Cybersecurity Operations Centre and assessing cyber threats this project can ensure safety across devices.

Summary:

CCGB launched internet banking facility that is user friendly with cutting edge technology, ensuring safety and accessibility. LOS enhances the speed and accuracy of loan application ensuring customer application experience. LOS processed 2,35,215 loan accounts and 3073 crores were processed by. System primarily focused on hold loan and crop loan. 

For more information, please contact:
K Pramod Kumar Reddy at chairman@cggb.co.in

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