Evince has earned a favourable reputation in banking, serving the top regional banks in Africa. Our solutions provide clients with insight, operational excellence and innovative solutions to resolve business problems. Powerful partnerships are at the heart of everything we do and we have partnered to deliver strategic solutions in settlement and reconciliation, automation, artificial intelligence and big data analytics.
We continue to provide innovations in financial technologies; through partners we have provided straight-through-processing and RPA automations for large regional banks with operations in every part of Africa. Our solution includes a marketing automation FINTECH solution and RPA solutions for cards operations.
Treasury and invisible operation excellence
Banks are the traditional channel for investing in government treasury bills which are traditionally considered the threshold of risk free investing. As a result, billions are invested over the forth-night windows of primary bills with the central bank and many more in an on-going secondary market where prematurely terminated investment and other investment outside the primary window are traded.
Our first client, one of the largest banks in Nigeria with hundreds of branches across the nation is probably the largest trader in government bills. The traditional system sees every branch maintaining a local suspense account and managing a silo of customers who have ongoing investments with them in the bank. The old system means every investor must carry out operations only at their branch or at least the bank must get in touch with the primary branch to get visibility into the investment of customers. To aggravate the situation, investments in treasury bills have a number of workflows including different tenors, different turnover instructions including termination at maturity, partial termination at maturity or complete termination. Other workflows include getting the interest on investment upfront and another workflow to calculate accrued investments if such are terminated prematurely among others. Trading in secondary or open market operation takes a similar flow. The banks' manual system meant every branch maintained this plethora of information. Individuals maintain important company information, branches struggle with historical information and product knowledge and the HQ treasury department often have to rely entirely on branches for customer information.
In 2013, Evince was contracted to improve the process flow and provide tooling for the entire treasury bills operation and NTB 1.0 was born. seven years after the solution has become an indispensable tool and source of information for the entire bank's treasury department. Operations are centralised into a single tool and customers can invest and dissolve investments from any branch of the bank. Previously unavailable insights are available from analytics and easy answers are available for line of business decisions.
Another star for Evince.
Value Chain Operations
The value chain reporting solution delivered by Evince to banks in Nigeria answers a few simple questions with high impact, Who are the customers paying the largest conglomerates on our books? What is the trend of their deposits and why is it trending upwards or downwards? Which channels are most popular among our customers?
Entire bank departments are dedicated to finding answers to these questions. The complications often arise when some of these channels are walk-in channels and it is not easy to determine the customers full identities and often the bank needs to rely on narrations. Another issue is that of the large number of payment channels and the fact that they continue to onboard more.
After an analysis of the situation, the data sources and types and other environmental factors, Evince deployed a solution that involves ETL for loading and pre-processing data files from various channels. We also deployed a straight-through-processing (STP) solution that didn't require human intervention except for reporting. Perhaps the creme of the solution is the natural language processing, an aspect of artificial intelligence that was deployed for named entity resolution. This portion of the solution worked on the narrations within customer transactions to identify the customers. Combined with other information including customer IDs and phones the customer information were aggregated. Suffice to say the security of the information was top notch and the solution used for internal processes with customer rights to satisfy regulatory requirements.
Multi-Channel Customer Records
Banking regulations require customer information to be kept up to date and this has always been a challenging business for financial and non-financial institutions. The Multi-Channel Customer Records solution was proffered and implemented to address this very challenge while leveraging the popular channels bank customers are already familiar with including ATM machines, internet banking portals, social media channels.
The final solution used a number of plugins developed by Evince; a web plugin was attached to the corporate website and internet banking portal to initiate KYC for customers whose records have aged, prompts and options from ATM machines started KYC updates from this channel and adapters were developed for mobile banking apps to ease integration. For the integrity of records, every channel requested token validation from customers before the records were committed.