Aegis bags over Rs 200 crore contract from PNB

BPO services provider Aegis Ltd has signed a 5-year contract with state-run Punjab National Bank (PNB) to provide multi-channel Customer Lifecycle Management support.
Financial details of the deal were not revealed, however, industry sources said it is worth over Rs 200 crore.
Also, in a first for a BPO services provider, Aegis -- an Essar Group firm -- will support and manage the Pradhan Mantri Jan Dhan Yojna (PMJDY) contact centre on behalf of PNB.
As part of the contract, Aegis will provide multi-channel Customer Lifecycle Management support for banking products and services like deposits operations, core banking processes, lending services, internet banking and account and card related services for PNB, the firm said in a statement.

"The scope would also include supporting and managing PMJDY contact centre on behalf of PNB. This would be the first customer contact centre institutionalised by a Public Sector Bank for the PMJDY," it added.
"This partnership with PNB is focused around improving operations, enhancing customer experience and bringing in innovation while reducing costs," Aegis Global CEO Sandip Sen said.

There has been a paradigm shift in driving financial inclusion in India, therefore the opportunity for Customer Lifecycle Management BPO within the Indian banking and financial sector is large, he added.
Aegis will manage PNB's end-to-end customer lifecycle value chain, including multi-channel customer on-boarding and service operations, data management and collections.

It will also provide customer relationship management (CRM) platform, customer grievance resolution module and customer intelligence.
"This engagement will initially have about 500 personnel, which would then be scaled up to 1,500 people across Gurgaon and Bhopal," the firm said.
The company has won over 12 banking BPO contracts across the country over the last 12-18 months.