History
In 2005, Centurion Bank of Punjab Ltd., one of India's leading private sector banks was preparing for accelerated organic and inorganic growth, and was convinced that achieving operational excellence had to be the focal point for achieving the desired growth. The bank invited bids from several large national and international organizations to contribute value to this initiative. After careful and extensive evaluation, Centurion Bank of Punjab selected Indecomm Global Services to be their strategic partner based on Indecomm's deep domain expertise in banking, innovative use of technology for process automation and strong executive leadership.
An 'Enterprise Partnership' program was evolved, and in 2006 Centurion Bank of Punjab Ltd. and Indecomm Global Services formed Centillion Solutions and Services, an entity that would focus on back office processing services for retail banking and related financial services. The scope of this partnership encompassed managing the entire back office operations for the bank from two shared service centers in Bangalore and Gurgaon. The services included providing operational support to Assets, Liabilities, Wealth Management, Clearing, Customer Service, Direct Tele-Marketing Hub, vendor management, HR Operations, and local operations at its asset branches spread across India.
By July 2008, just two years into its existence, Centillion showed remarkable results for the retail asset servicing operations of the bank. The partnership facilitated the bank to scale up its operations by 70% without adding to its operating cost. Some of the key metrics of this scaling up exercise included centralizing key processes, establishing of local operations in 49 locations, two mergers in a span of 18 months, and transitioning of 35 unique processes and initiatives within the same span of time.
Overview
Centillion Solutions & Services is well-known in the Banking, Financial Services, and Insurance (BFSI) segment for the enterprise solutions it offers across risk management, transaction processing, and outsourcing and fulfillment services. The company partners with major Banking institutions, Non-Banking Financial Companies (NBFCs), and retail and healthcare services to provide IT-platform based services. With a collective banking experience of more than 100 'Banker' years, Centillion offers a unique blend of technology and unparalleled expertise to help you adapt, achieve, and deliver superior business outcomes. We can help you become more effective by transforming your fixed costs into variable costs, thereby allowing you to focus on your core competencies and helping you create a competitive edge.
Centillion Solutions & Services Pvt Ltd was incubated with the view to offer enterprise solutions for banking and non-banking financial companies to accelerate their business growth. Our IT-platform based services are geared to meet most conceivable requirements of banks, financial institutions and non-banking financial companies. We provide customized solutions by combining innovative and state-of-art software applications with focused process management expertise in the Agri & Rural finance, Consumer Financial Fulfillment, and Imaging and Digitization businesses.