Integrated HRMS Can Help Banks Increase CASA

CASA (Current Account Savings Account) is a critical measure of a bank's liquidity, operational effectiveness, and financial resilience in corporate banking. While boosting CASA is a strategic priority, many banks need help scaling this metric effectively. Simplifying the onboarding process for corporate employees has emerged as a powerful strategy for increasing CASA. However, traditional onboarding approaches could be more efficient and error-prone, hindering banks from attracting and retaining corporate clientele.

Integrating corporate clients’ HRMS (Human Resource Management System) into banking systems offers a game-changing solution. This integration automates onboarding, enhances operational efficiency, and contributes directly to CASA growth.

This article explores how HRMS integration, mainly using tools like HRMS Sync, transforms the onboarding process and enables corporate banks to achieve up to a 40% CASA increase.

Challenges in Traditional Corporate Banking Onboarding

The conventional onboarding processes in corporate banking could be more efficient because of manual workflows, disjointed systems, and redundant data entry. These issues lead to several challenges, including:

1. Lengthy Processes: Manual data entry and document verification prolong account activation, reducing customer satisfaction.

2. Data Errors: Human errors during data handling result in discrepancies that compromise the onboarding experience and the bank's reputation.

3. High Operational Costs: Extensive administrative.