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The Customer:
A leading multinational bank in Asia offering a wide range of consumer banking,
corporate banking and treasury products and services.
The Challenge:
The bank had performed well during its decade-long existence. However, with the
advent of aggressive global and new private banks, its market standing was
challenged as customer expectations were growing.
The bank decided to commission a Business Process Redesign (BPR) initiative with
the following primary objectives: a) improve overall customer service levels;
b) reduce costs; and c) minimize operating risks.
The BPR initiative would precede a possible upgradation of its technology
applications. Hence, a secondary objective was to ensure that maximum benefits
could be achieved in the event that a contemporary technology platform was adopted.
Recommended Solution:
Detailed process findings and recommendations across the various divisions of
the bank were provided pertaining to:
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definition of
front-office and back-office tasks |
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distribution of
processing activities between branches and a 'to be formed' centralized
operations unit |
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re-design of branch
layout, demarcating customer servicing and transaction processing areas |
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promotion of new,
low-cost delivery channels |
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segmentation of
customers and preferential treatment for High-Net-Worth (HNW) customers |
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redesign of products
and services with a focus on value-added services |
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automated
limit-monitoring and credit administration procedures |
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improvement in
nature, quality and timeliness of MIS |
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financial control and
strategic planning
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Customer benefits:
The bank acknowledged the following benefits from the implementation of i-flex Consulting's BPR
recommendations:
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better customer
service: customer segmentation introduced; sales officers freed
from administrative activities; transaction turnaround-time and processing
errors reduced |
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significant cost
savings: reduction in number of full-time employees; lower transaction
processing costs due to economies of scale; and, lower operating expenses due to the
relocation and centralization of processing activities |
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better resource
utilization: skilled resources allocated based on new role
definitions |
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reduction in
operating risks: improved and reliable planning, monitoring,
review and control processes introduced
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