Technotask's Innovative Solutions Helped a Fintech Company Overcome RBI Guidelines

In the ever-evolving realm of fintech, staying ahead of regulatory changes is not just important it's crucial for success. That's where Technotask comes in. When our client, a prominent fintech company, found themselves facing significant challenges due to the new RBI guidelines of 2022, we swiftly stepped up to the plate with game-changing solutions.

Establishing an Anti-Fraud Line of Business (LOB)

We understood the potential ramifications of losing a substantial customer base, so we wasted no time in implementing an effective strategy to counteract the impact. We introduced a new Line of Business (LOB) solely dedicated to anti-fraud measures, revolutionizing the client's operations.?

Efficient Queue System for Red Flag Scenarios

One of the key components of this strategy was the establishment of an efficient queue system, designed to handle red flag scenarios with utmost precision and speed. By ensuring that trained personnel were readily available to address concerns promptly, we were able to deliver swift resolutions and mitigate potential losses for our client.

Collaboration with CIBIL Squad Team

But we didn't stop there. To further fortify the client's operations, we strategically positioned 10 additional resources within the anti-fraud LOB. This move allowed us to collaborate seamlessly with the CIBIL squad team, strengthening our ability to monitor credit ratings effectively. The results we achieved were nothing short of remarkable. In a mere six months, customer complaints were reduced by a staggering 70%, clearly showcasing the effectiveness of our approach.

Expanding Efforts: Operational Risk Management (ORM) LOB

At Technotask, we understand that comprehensive risk management is paramount in today's regulatory landscape. That's why we expanded our efforts even further by adding 12 resources to the Operational Risk Management (ORM) LOB. This dedicated team was specifically tailored to combat the hostile effects of the RBI rules, ensuring that our client remained shielded from potential threats. By protecting their interests, we not only safeguarded their operations but also helped them enhance their customer base and revenue streams.

We believe that innovation and adaptability are the keys to unlocking true potential. At Technotask, we are committed to empowering our clients by providing innovative solutions that allow them to thrive. Our mission is to help businesses emerge stronger, armed with the tools they need to conquer the challenges that lie ahead.

If you're ready to take your business to the next level, we invite you to get in touch with us today. Let us show you how Technotask can be your trusted partner on the journey to success. Together, we can navigate the ever-changing landscape of fintech and unlock the true potential of your business.