The bank was one of the oldest banks in the region and had a reputation for stability and strength in the marketplace. This conservative culture caused the bank to move slowly to change the business model as the market evolved, thus causing the bank to begin to lag the marketplace in innovation.
The management team recognized the need to improve efficiency and become more flexible to adapt to client needs. As a result, the Bank was re-organized along business lines and most support functions had been centralized. With the success of early changes, the Bank had identified the need to re-examine the Bank’s operations base and identify more positive opportunities for change in order to meet the challenges and leverage the opportunities presented by the expected expansion of the market.
- Re-engineer process and customer service operations capable of absorbing significant new volumes with no additions to staffing.
- Retail and Corporate processing and service models need to be developed and implemented for best in class performance.
- Implementation of a “Sales Driven Culture” in the branch network and amongst Relationship Managers.
- Installation of a “Results Oriented” Management Process based on best in class processing and service standards. Design and implementation of the appropriate management information process for each activity and a pro-active daily review process.
- Identification of the IT needs to support the expansion of the Bank’s Business base. A comprehensive business needs versus IT capability assessment to develop short and long term solutions.
- A review of organization alignment based on the revised process organization will be recommended. Necessary business line focused processing and service activities will be the driving force.
- Update and refinement of the Branch location strategy to include recommendations for type and location of current and future branches to facilitate expected demographic growth.
- The FTE savings from the project allowed the bank to maintain the same staff level while experiencing significant volume increases during and after the project.
- 18% improvement in efficiency across all Central Operations units.
- 36% improvement in first call resolution in the service desk.
- Repurposed 44 positions into new product and value add functions needed in the bank.
- Implemented effort based sales goals and modified the bank’s CRM System to allow tracking and reporting of sales.
- 16% improvement in productivity in the Retail Credit function and reduced the credit card end-to-end process to be the among the most competitive in the market.
- Developed branch evaluation, analysis and reporting procedures for disciplined approach to new Branch location selection.
- Streamlined the Corporate Banking credit process and structured the organization according to customer segments.
- Reduced significant administrative work from Human Resources and repurposed FTE towards much needed organizational support roles.