60% reduction in cash planning costs and penalties through data analytics

Financial Analytics

Challenge

The client was facing disorderly and manual handoffs of cash. This created inefficiencies in collection & delivery timelines leading to cost implications
There was no consolidated view of cash across ATMs and branches. Hence the management was not able to optimize the cash rotation
The client wanted to increase the customer base by increasing cash capacity in branches

Defined a process for cash handling (collection and delivery) across branches and enabled the IT systems to utilize the data collected
Architected a data lake to create a single source of truth for cash positions across the bank branches
Developed multiple reports & dashboards like cashflow reports, daily cash held overs, penalty costs, ODP firming to enable the leadership (Branch Managers, Area Managers, POM, and Central) to make proactive decisions related to cash and drive the HCV strategically
Developed branch-specific cash position reports to enable branch managers to use cash efficiently and sign new customers

The real-time cash position data enabled the client to optimize cash planning and make the operations more efficient

The datalake developed was able to scale up for multiple branches and provide cash related insights at all levels of management

The client was able to reduce cash planning costs by 30%-60% and at the same time reduce the penalty costs of delayed cash payments by 50%-80%