6 things banks and financial institutions want from their logistics partners

Banking may have gone digital, but not all banks entirely have. Even today, a lot of work in the banking and financial institutions industry happens through paper. Document shipping is necessary to send welcome kits, credit cards, PINs, fixed deposit receipts to the customer; marketing and promotional material to the branches; bills, receipts, contracts etc., to the head office; processed documents to the archives etc.

For all of this, today, banks use logistics or courier companies. This comes with several unique challenges of security, traceability, cost, reach etc. In this blog post, we explore what banks want from their logistics partners.

#1 Secure delivery of packages and documents

Much of the documents that are sent from or to the bank are confidential. Any logistics partner needs to have the capabilities to carry and deliver secure packages. This itself eliminates a lot of the smaller players.

At Shipacko, we have dedicated stations for sorting and bagging banking shipments to guarantee safe document shipping. We use polybags to protects the aesthetics of bank shipments. We also enable express delivery of sensitive documents.

#2 Traceability of all packages at all times

Banks and financial institutions can’t simply resend their packages if they get lost in transit. There is confidential information that has the potential to be misused. So, it is fundamental that the packages can be tracked at all time. Many smaller players can’t offer this, making them unviable.

Shipacko’s API-validated real-time tracking system ensures that you can track your packages from the convenience of your mobile phone.

#3 Nationwide reach

Most logistics providers only deliver to cities or, at best, some towns. Therefore, different branches end up using different courier services. This affects the consistency of service as well as pricing, timeliness etc.

We can support express delivery across 19400+ pin codes in the country, giving you and your customer a consistently delightful service.

#4 Affordability

To ensure that the packages are securely delivered to the customer, banks end up choosing multi-national logistics companies, who charge a hefty premium. This burns a hole in the budget.

Shipacko’s competitive offerings ensure that businesses can ship packages at scale at affordable prices.

#5 Flexibility

Banks aren’t open all day, every day. Packages need to be delivered while the branch or the head office is open. If such a delivery isn’t possible, the logistics provider needs to have an intelligent way to reschedule deliveries instead of just going back to the branch at 6 pm each day!

Our express logistics offer slotted branch deliveries between 10 am and 1 pm on working days and reschedule for bank holidays. We also allow OTP/IVR-based cancellation and rescheduling for deliveries.

#6 Customisation

For most logistics companies, a customer is a customer whether they’re a bank or a bakery. This means that they don’t understand the unique needs and challenges that come with the financial services industry.

Shipacko’s BFSI solution is designed, keeping your precise needs in mind. It includes confirmed express delivery of confidential documents — using SMS confirmation for secure product delivery, OTP-based authorisation, address verification, dual address capability etc., customised for the BFSI industry.

Shipacko for the BFSI industry

Shipacko BFSI brings together our partner transportation service Express and bulk shipment processing service Mailroom to meet the needs of the financial services industry. Shipacko BFSI also facilitates same-day delivery and 1-3 day delivery in major locations and dedicated sorting and bagging of BFSI shipments with utmost care.

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