Retail Customer Origination Optimization

Leading GCC Bank


This expanding retail banking group needed to develop a suite of products and services that would encourage new and existing customers to maintain or deepen their relationship with the bank.  The account opening process was very complex including 19 documents, 43 signatures (internal and customer) and 34 stamps, with other services (ATM, Mobile Banking, Internet Banking and SMS) provided to the customer via separate applications and only upon customer requests.  Consumer credit origination processes were complicated with excessive documents and signatures.  Credit turnaround times exceeded all market standards rendering the bank uncompetitive with prime customers.  

The processes behind each of the products were also inefficient with redundant processing and authorizations, excessive handoffs and an inordinate number of non-value added steps.  There was also an abundance of internal bureaucracy imbedded within the processes, resulting in a high level of documentation for audit tracking purposes.

These deficiencies led to turnaround times of up to six days for some applications, but with no existing reporting mechanism in place, there was no way to track or correct these incidences.

  • Re-engineered product setup to ensure all new customers are automatically enrolled in SMS and Mobile banking at the account opening stage.
  • All liability accounts opened with ATM card assuring lower cost ATM access and enabling Internet and IVR Registration (via the internet).
  • Rationalized application forms eliminating duplicate fields, removing unnecessary information and significantly reducing multiple customer and internal signatures.
  • Eliminating unnecessary stamps and duplicate checking on required documentations, relying instead on automatically captured systems records.
  • Document generation initialized at deal creation stage reducing the number of required customer visits.
  • Combining duplicate credit approval processes into one consolidated approval.
  • Implementation of  turnaround time tracking reports in order to communicate and track service expectations to customers.
  • Synchronizing internal departments work schedules and efforts by aligning auto sales offices with bank and dealership hours.
  • Enhancing and fully utilizing existing bank systems to automate credit limits and capturing queuing data.

  • Enhanced customer relationships enabled by standardization of products, processes, KPIs and SLAs.
  • Automatic inclusion of various “sticky” channel products at the Account Opening stage ensuring longer lasting deeper relationships with customers as well as supporting the migration of customer transactions from high cost (branch) channel to lower cost (digital / alternative) channels.
  • Reducing variability and complexity of product setup resulting in improved processing efficiency and lowered turnaround times.
  • Streamlining credit approval process without degrading risk mitigation and decision making parameters.
  • Significant TAT and cost savings achieved in lending processes by reducing Non Value Added steps by 90%, eliminating 22% of documents and reducing required signatures by over 50%.
  • Customer TAT reduced by 46% for Account Opening and 59% for Credit Cards.
  • Auto Finance TATs reduced to one day from original six with Personal Finance down to two days from original four.