Bank of India (BoI), a state-owned commercial bank, has employed Aegis, a global outsourcing firm, to provide its customer relationship management (CRM).
The company will support and manage the bank’s CRM, including a 250-person multi-channel customer acquisition and service operations, data management and collection, through a delivery centre it has installed in Mumbai.
Commenting on the five year deal, Vijayalakshmi Iyer, chairman and managing director at BoI, said: "Entering into an alliance with Aegis will enable our 65m customers to avail of services without having to visit or contact branches."
The company will aid BoI by administering customer contact, marketing, recovery functions, and transaction support, among other services.
"We have taken a lot of initiatives in the past eight to nine months to reduce our non-performing assets. This partnership will be in addition to our efforts and will help improve our recovery process," Iyer added.
Sandip Sen, chief executive at Aegis, commented: "The opportunity for customer relationship management BPO within the banking and financial sector is large."
The company has recently agreed to provide CRM and banking services to other state-owned lenders in the country, including Union Bank of India and Bank of Baroda.