Commercial Indo Bank Supported Electronic Data Exchange with the Federal Bailiff Service Based on Diasoft Solutions
November 1, 2022
Commercial Indo Bank has completed the project for automation of the document exchange with the Federal Bailiff Service based on the Diasoft solution “Integration with the Federal Bailiff Service”, part of the Digital Q.Omnichannel platform. The solution ensures daily processing of about 100 thousand incoming documents from the Federal Bailiff Service and quickly provides 24/7 responses to court bailiff inquiries.
The product “Integration with the Federal Bailiff Service” automatically processes requests from bailiffs, prepares and delivers bank responses to the bailiff service on debtors’ accounts, funds, rented bank safety boxes and property that was acquired under loan agreements. The product also allows automatically processing all types of court bailiff decisions. Besides the implementation of the software product, the project scope also included integration testing and assistance in registration of the bank in the E-Government system.
The integration allowed the bank to reduce the labor intensity of preparation of documents for the Federal Bailiff Service and meet regulatory requirements to such document exchange.
Commercial Indo Bank is the joint venture of the State Bank of India and Canara Bank – the leaders in the Indian banking industry. It is a single-office bank focusing on corporate banking services and stock market operations.