To address and improve its business processes in search of efficiency and better customer experiences:
- Inconsistent client experience due to inefficient processes and too many hand-offs.
- Too much fragmentation across teams with duplication of processes and activities.
- Limited accountability and responsibility for end-to-end business processes.
Design and help implement cost-saving process improvements by:
- Analyzing the bank’s current state with time-motion studies and process walkthroughs and understanding its challenges through the use of key performance indicators, performance levers, comparisons to benchmarks, and leading practices.
- Redesigning the processes with a focus on agility, efficiency, and a better overall customer experience.
- Completing a transformation that improves processes and improves customer service.
Impact on client’s business
- The company achieved $30-50 million in first-year identified savings as the operational changes were launched, with $8 million benefits achieved almost immediately and $30 million savings achieved and captured in the P&L.
- The transformation has enhanced the customer experience at all touchpoints to position itself for growth.
- The company has created a culture of continuous process improvement.