Bank of Simio is a currency exchange bank where clients come to exchange their cash for different currencies. Bank of Simio (BOS) either accepts or exchanges only three types of currency: USD, GBP, and JPY. BOS makes money by charging a transaction fee for each exchange transaction. At the end of each day or during the day, BOS has to exchange currency either with a settlement bank or a counterparty bank to reset the required currency amounts for the day. The settlement and counterparty banks charge a fee for exchange swaps and settlements. The objective of the BOS in this operation is to maximize profit by reducing the swaps and settlement charges and the amount of excess currency at hand. The simulation model developed by our team has various scenarios and shows the profits made by BOS in these scenarios. Click here for more.

New Product Development Report for the Karnataka Regional General Manager of State Bank of India for Establishing Self Served Electronic Interfaced Banking Kiosks of the SBI Youth Banking Project.

State Bank of India (SBI) creates a self service unit that is placed independently inside highly frequented public places like a shopping mall/rail station/bus stand/IT parks/food joints frequented by youngsters. The unit is manned by two staff members and will have an ATM, CDM and a self service kiosk (SSK) with an SBI person also available to conduct all transactions that cannot be done on the machines as done by an SBI officer in a regular branch. The other staff is a security guard. The SSK machine can take care of requests like change in ATM PIN/internet banking password or change in address/contact details etc.