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How India’s First Ever “ResolveTech” Startup KomplaintBox Plans to Empower Customers of Banks and Financial Institutions

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In an era where seamless customer experience is paramount, a pioneering solution has emerged to bridge the gap between customers and Banks. We are thrilled to unveil KomplaintBox (KB), a unit of J3 Consulting Services LLP, based out of Chennai. This is a groundbreaking venture designed to serve as a vital liaison between financial institutions and their customers, transforming the way complaints are addressed and resolved.

 


The idea of KB was born out of personal experiences faced by the founders. There were numerous instances where they assisted their friends and family members in solving banking related issues. These issues related to various Banking products such as Loans, Credit card and Trade Finance. On deeper analysis they understood that common customers face a lot of challenges while trying to get their complaints resolved.

 


The Financial Services sector in India primarily consists of public sector banks, private sector banks, foreign banks, small finance banks, cooperative banks and non-banking finance companies.

 


With Financial Institutions providing an array of financial and advisory services it is common to see shortcomings in their services. Redressal of complaints often take a long time. It is also common to see complaints unresolved. This despite the fact that Financial Institutions have a clear escalation matrix, and the Reserve Bank of India’s Consumer Education and Protection Department is very proactive when advising Banks to tighten their redressal mechanism.

 


KB is a revolutionary service that is designed to effectively bridge the gap between customers and Banks, providing a comprehensive platform for customers to voice their concerns, seek assistance, and find resolution to pending issues.

 


With an unwavering commitment to empowering customers, KB simplifies the often-complex procedures involved in complaint redressal, offering clarity, support, and guidance at every step of the way.

 


The experts at KB come armed with “hands on” Banking (consolidated experience of over 60 years) and Global Consulting Experience.


 


The Process


The typical complaint redressal process followed by Banks is given below. Customers have the option to directly approach the Bank and try and get a resolution.

 






Process of KomplaintBox

 


Alternatively, customers can visit the KB portal and register their complaint providing necessary documents and information. The team at KB will assess the complaint, collect additional inputs if any, from the customer and give them a probable outcome. On receiving the confirmation to progress, the team will initiate the redressal process with the concerned bank. The customer will be kept in the loop through regular updates.

 


If needed, complaints will be escalated, within the Bank and with the Reserve Bank of India (RBI), until a resolution is received. In case no resolution is forthcoming, KomplaintBox has no hesitation to refund the advisory fees to the customer in line with their pricing policy.

 


Why Komplaint Box?


  1. Seamless Communication: KB provides customers with a hassle-free channel to communicate their complaints to the concerned banks. The platform ensures that these complaints are channelled appropriately and reach the right personnel within the concerned Banks and Financial Institutions


  2. Expert Guidance: KB’s team of experienced professionals is dedicated to helping customers understand the complex procedures and requirements for complaint resolution. Through personalized guidance, customers can navigate the often-daunting process with confidence.


  3. Frictionless Banking: KB facilitates swift and efficient resolution by streamlining the communication between customers and banks. By acting as an intermediary, the platform ensures that complaints are addressed promptly, thereby reducing frustration, and minimizing the adverse impact on customers’ lives.


  4. Education and Empowerment: KB believes in empowering customers with knowledge. KB educates customers about their rights, responsibilities, and options, fostering a sense of ownership and agency over their financial dealings.


  5. Transparency: Transparency is at the core of KB. It provides customers with real-time updates on the status of their complaints, ensuring they are always informed and engaged throughout the resolution process.


KB is unrivalled in its domain. While customers retain the option to seek redressal directly through their Banks at no extra cost, KB offers a very distinctive advantage. It excels at conserving customers’ valuable time and sparing them from the arduous task of pursuing complaint redressal.




Target Audience


KB’s target segment would be the retail and SME customers. SMEs would include sole proprietors, partnerships, and private limited enterprises.

 


According to a April 2023 report of the Committee for Review of Customer Service Standards in RBI regulated entities, Banks in India receive around 1 crore complaints annually that are formally recorded. Our study estimates that there would be over 2 crore complaints that are not formally recorded making the annual number over 3 crores. We expect this number to grow at an annual rate of 10%.

 


There are over 32 Million Non-resident Indians spread globally and they face a lot of challenges in dealing with Banks in India for their transactions. This service will also be extremely useful for our senior citizens who might have to run from pillar to post to get resolutions.

 






Founders of KomplaintBox

 


Vision Statement


Mr Jose Joseph, Co-founder, expressed his excitement, stating, “KomplaintBox’s debut as a “ResolveTech” platform in the Indian market marks a significant milestone in the pursuit of enhanced customer satisfaction, streamlined complaint resolution, and stronger customer-bank relationships.”

 


“Our vision is to be a world class trusted complaint resolution service thereby solving challenges faced by banking customers,” adds Co-founder JT Jeyaraajkrishnan.

 


About the Founders


Jose Joseph


Jose Joseph is a seasoned professional with over 28 years of experience in the Banking Industry. He has worked with some leading organizations like HSBC, Oracle, Tata Consultancy Services, and IBM. He has handled banking functions like Retail Banking, Wealth Management, Corporate banking, Payments, Compliance, Audit and Operations. He is a Management graduate in Banking and Finance.


 


JT Jeyaraajkrishnan


Jeyaraaj is a senior management professional in the Banking industry. Overall, he has over 30 years of experience and worked with leading organizations such as American Express, Oracle and Tata Consultancy Services. He has handled functions like Retail Banking, Wealth Management, Corporate Banking, Payments, and Operations. Numerous articles have been authored by him. He is a qualified Chartered and Cost Accountant. 

For more information please visit www.komplaintbox.in.

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Press Release

New Study Reveals Majority of Indians Prioritize Nutrition Over Taste, Surpassing Global Average

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Based on a recent survey of urban Indian consumers: 


  • Nine out of 10 consumers are searching for protein-rich food compared to seven out of 10 global shoppers.


  • The top four qualities consumers look for when buying snacks are (1) natural, (2) heart-healthy, (3) protein-rich and (4) energy-source, all of which come before satisfying cravings.


  • Nuts have emerged as one of the most popular snacking choices, with 86% of Indian shoppers report having purchased them in a span of 6 months.


  • Urban Indians read nutrition labels more than the global average, reflecting a growing trend towards informed purchasing.


  • 69% of urban dwellers surveyed have the opinion that plant-based protein is just as good as meat-based protein, exceeding the global average of 55%.


 


Wonderful Pistachios, the world’s largest grower and processor of pistachios and distributor of California Pistachios in India, released today, World Nutrition Day, the findings of a new global study that sheds light on the snacking habits of urban Indians. The study, commissioned with Material, a leading global research consultancy, included 10 countries and over 12,400 respondents, revealed a new behavioural trend that urban Indian consumers prioritize nutrition over taste when it comes to snacking. This growing preference for healthy snacking emphasizes the importance of good nutrition for overall well-being.


 


For the India market specifically, the study delved into the snacking habits of 2,415 shoppers across six Indian cities, which represented a population of approximately 35.9 million consumers. Remarkably, a majority of urban Indians (58%) reported basing their food purchasing decisions on nutritional benefits more than taste, exceeding the global average of 52%. Delhi and Ahmedabad lead with over 60% of urban shoppers preferring nutrition in their food. Bengaluru and Chennai follow closely, indicating a nationwide shift towards smarter snacking preferences. In India, Millennials and Gen Z are leading the charge in health-conscious purchasing decisions, with more than 83% of consumers in these age groups reading nutritional labels before buying.


 


Indian consumers prioritize four key factors when shopping for nutritional snacks: natural (free of artificial colours and preservatives), heart-healthy, protein-rich, and provides energy. Nine out of 10 urban shoppers consciously seek protein-rich food options, compared to the global average of seven out of 10. The focus on nutrition has fueled the rise of nuts as a preferred snack choice, becoming essential to daily eating habits. The study found a staggering consumption of nuts, with 86% of Indian shoppers report purchasing them in a span of 6 months, compared to just 75% globally. With 6g of protein in per 28g serving, California Pistachios are a smart snack choice that provides benefits without sacrificing taste.


 


Shail Pancholi, Country Director, India, Wonderful Pistachios, commented on the study, saying, “Nuts were traditionally used as garnishes and consumed during festivals, but have now become a popular snack in India, indicating a notable shift in dietary habits. Pistachio consumption in India has doubled in the last six years, as consumer awareness of the nutritional benefits that pistachios offer has grown. Consumers are discovering that pistachios are naturally cholesterol-free, rich in plant-based protein and dietary fiber, and provide over 30 different vitamins and minerals.” 


 


Interestingly, the study found that nuts are the second most preferred snack among urban Indian consumers, with 64% of Baby Boomers and 59% of Gen Z prioritizing nutrition over taste when selecting food. This indicates a growing focus on health across generations, with Baby Boomers focusing on senior wellness and Gen Z reflecting the rise of mindful purchasing. Though on opposite ends of the age spectrum, these two generations take the lead in seeking protein-rich options, as well as preferring natural snacks. 


 


Mumbai tops most of the consideration sets when choosing a snack. Residents opt for natural ingredients (35% vs. the national average of 30%), heart-healthy options (33% vs. 30%), and protein (33% vs. 29%). Chennai residents look for energy-boosting snacks (31% vs. the national average of 29%). 


 


The fact that 69% of urban Indians surveyed have the opinion that that plant-based protein is just as good as meat-based protein reflects a positive shift towards varied dietary preferences. Pistachios are a good source of high-quality complete protein, containing all nine essential amino acids. A 28g serving of pistachios provides 6g of protein, which is 11% of the recommended daily allowance (RDA) according to FSSAI.


 


The Wonderful Pistachios study unveils a compelling shift in Indian snacking habits. Nuts are evolving from festive treats to a daily snacking staple, fueled by a nationwide preference for more nutritious options. The trend transcends generations, resonating with Gen Z and Baby Boomers alike, underscoring the growing importance of mindful eating in urban India. As consumers increasingly seek natural, heart-healthy, protein-rich, and energy-boosting snacks, the future of Indian snacking appears to be firmly rooted in nutrition and well-being.

 


Wonderful Pistachios

Wonderful® Pistachios is the world’s largest grower and processor of pistachios, with a global presence in over 70 countries. As a vertically integrated operation, they are experts in every step of the process from tree to shelf, ensuring the highest-quality product every time. In tandem with its Grower Partners, Wonderful Pistachios harvests 125,000 sunny acres (50,000 hectares) of land in California that receive warm days and cool nights, which work in harmony with the rich, natural soils to create the perfect growing climate for high-quality pistachios. They ship 600 million pounds (204 million kg) of nuts worldwide from their advanced processing facilities to ensure the highest standards are met. When it comes to pistachios, Wonderful® Pistachios expertise is unmatched in scale and capacity, paired with warehouses and sales teams worldwide that are well-equipped to provide support at every step of the way. 


 


California Pistachios

California Pistachios are grown and distributed by The Wonderful Company, the world’s largest vertically integrated pistachio processor and marketer located in California’s Central Valley. California Pistachios are Non-GMO, providing a smart, healthy choice for consumers around the world. Sun-ripened in the moderate Mediterranean climate of California, these distinctively green nuts pack taste and contain antioxidants and over 30 different nutrients. California Pistachios in India are available under leading brands and private labels at retail outlets, grocery stores, and online platforms.


 


For more information about California Pistachios India, please visit www.b2b.wonderfulpistachios.com 


 



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Press Release

Singapore Prepares Ahead to Leverage Artificial Intelligence for a Better Future

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SINGAPORE, May 31, 2024 /PRNewswire/ — Senior Minister of State for Communications and Information Tan Kiat How launched the Digital Enterprise Blueprint (DEB) at Asia Tech x Singapore (ATxSG) 2024 today. The Blueprint will enable SMEs to harness technology, optimise the way they work, and strengthen digital resilience and cybersecurity across the ecosystem. 50,000 SMEs are expected to benefit over the next five years through four key focus areas:

  1. Empower enterprises to be smarter by adopting AI-enabled solutions
  2. Enable enterprises to scale faster through cloud-based and integrated solutions
  3. Equip enterprises to be safer through improved cyber resilience
  4. Support enterprises to upskill workers to make full use of digital capabilities

Seven partners have come onboard to pledge their commitment, including Singapore Business Federation, Singapore Computer Society, SGTech, Amazon Web Services, Google, Microsoft and Salesforce.

In collaboration with IMDA and the TechSkills Accelerator for ITE and Polytechnics Alliance, SGTech is launching the Tech Apprenticeship Programme to expand the career pathways of graduates by providing access to industry apprenticeships that offer on-the-job training and development opportunities. Over the next two and a half years, SGTech aims to facilitate the placement of at least 300 apprentices who are fresh or mid-career professionals from polytechnic or ITE backgrounds, and drive the adoption of similar practices that promote more inclusive hiring and career agility.

IMDA and the Singapore Academy of Law (SAL) signed an MoU aimed at uplifting the legal sector’s productivity through the use of GenAI. As part of this partnership, GPT-Legal, a new large language model which is contextualised for Singapore’s legal sector, will be co-developed. The model will be integrated into SAL’s research platform LawNet, which is accessible by 75% of Singapore’s lawyers. SAL will also be penning an MoU with the National University of Singapore and AI Singapore to develop its AI capabilities and create a certification to recognise AI specialists in the legal profession.

Additionally, Tribe and Digital Industry Singapore announced a collaboration with NVIDIA to launch the Ignition AI Accelerator for AI startups to create and bring to market the next wave of advancement in AI solutions. This programme will nurture 15 high-potential startups, equipping them with well-rounded support covering business and technical needs. NVIDIA and Tribe will also collaborate with EnterpriseSG to offer qualified AI startups funding support through the Startup SG Tech scheme, and assist them through the IMDA Accreditation process. 

Singapore hosted the final meeting of the UN Secretary-General’s Artificial Intelligence Advisory Body (AIAB) from 28-29 May. As part of the agenda, Singapore facilitated an engagement session between AIAB and the Digital Forum of Small States (Digital FOSS). Digital FOSS Fellows exchanged views with AIAB members on the topic of AI governance, particularly on the implications and challenges faced by small states. Through such efforts, Singapore aims to promote a more inclusive approach towards shaping global AI and digital governance.

Contact:

[email protected]

 

Cision View original content to download multimedia:https://www.prnewswire.com/in/news-releases/singapore-prepares-ahead-to-leverage-artificial-intelligence-for-a-better-future-302160193.html



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Press Release

One in Six Globally Concerned About Colorectal Cancer Screening Costs

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SHENZHEN, China, May 31, 2024 /PRNewswire/ — By 2040, the burden of colorectal cancer (CRC) is projected to increase to 3.2 million new cases and 1.6 million deaths per year representing a 66% and 71% rise in new cases and deaths respectively relative to 2020.

To better address the global burden of CRC and reduce its impact, BGI Genomics has launched the second edition of its global CRC awareness report, covering 1,938 respondents from Brazil (306), China (367), Poland (300), Saudi Arabia (300), Thailand (362), and Uruguay (303):  

CRC Screening Gaps Vary Globally: Nearly half (49.3%) of global respondents have never undergone CRC screening, with the highest proportions in Saudi Arabia (62.0%) and Poland (61.0%).

Preference for Fecal Testing Over Colonoscopy: Although colonoscopies are more recognized (33.4%), fecal tests at healthcare facilities are preferred (31.8%), reflecting a trend towards non-invasive methods.

Cost and Fear are Determinants of Screening Choice: Fear of colonoscopy (18.2%) and screening costs (17.7%) are major barriers to CRC screening. Poland (24.7%) and Uruguay (21.0%) show the highest fear of colonoscopy, while Thailand (24.5%) and Brazil (20%) indicate the most concern about costs.

Medical Advice and Family History Drive CRC Screening: Doctor’s recommendations are a major driver for CRC screening (30.5% globally), with Uruguay showing the highest adherence (44.1%). Additionally, those with a family history of CRC are more proactive in screening (64.5%), compared to the general population (35.0%).

Prof. Varut Lohsiriwat from Mahidol University offers his insights to this report. He suggested: “The essence of effective cancer screening lies in the acceptance and adherence of the patient to the screening method. The best screening method is the one that the patient accepts and adheres to because that’s the method that will actually benefit them.”

Dr. Zhu Shida, BGI Genomics Deputy GM, notes: “At BGI Genomics, we focused our efforts on developing advanced molecular biology testing techniques to close the gap [between acceptance and accessibility]. The ultimate goal is to transform colorectal cancer from a life-threatening disease into a manageable condition through widespread, early screening and intervention.”

For more region-level comparisons, access the full BGI Genomics 2024 State of CRC Awareness Report.

All data involved in this report come from the results of an online survey project conducted by BGI Genomics. It only surveys awareness related to colorectal cancer and does not involve personally identifiable data.

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Cision View original content:https://www.prnewswire.co.uk/news-releases/one-in-six-globally-concerned-about-colorectal-cancer-screening-costs-302159170.html



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