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Retail & Corporate Banking Distribution

Client:

Large Middle Eastern Bank

Division:

Retail Banking and Treasury Operations

Contact:

Deputy General Manager

Major Functions:

Branch Operations, Customer Service, Facilities Planning, Operations, Trade Services; Treasury Operations, Accounting

Situation

One of the largest banks in the Middle East was faced with the problems of increasing competitive pressure, changing regulations, deteriorating market share, inefficient processes and inappropriate systems. LoBue was asked to assess productivity and service issues across the retail, treasury operations, and accounting areas of the organization and to recommend programs to resolve these issues.

LoBue Recommendation

  • Creation of customer service oriented Model Branch transforming the branch network from an inward, production function focus to a customer and service oriented organization. The customer service environment was reorganized around the customers' needs and preferences, to facilitate one-stop shopping for all routine banking services and transactions. Wait times were reduced and facilitated a sales friendly environment. New standards for quality and timeliness insured ongoing service excellence.
  • Establishment of a regional processing centers in each region, relocating processing functions from branch customer contact staff to the RPC's.
  • Redesigned bank-wide accounting and countrywide treasury operations resulting in reduced accounting errors and reduction in holdover.
  • Design and implement a Performance Measurement program throughout all retail and operations areas, capturing volumes for more than 60 types of transactions and/or activities measuring individual, branch and regional performance.
  • Rationalize Business Banking including all marketing, customer service and processing functions for Corporate, Middle Market, Small Business and Islamic credit products. Results similar to above consumer improvement were achieved.

Real Results

  • The Bank realized direct savings of US $5 million per annum with full implementation, inclusive of the costs of establishing and staffing 3 new regional processing centers.
  • Achieved more timely management reporting, greater integrity of financial MIS and a sustainable 42% gain in the productivity of the accounting staff, while identifying additional bank-wide savings opportunities related to accounting and reporting functions of approximately US $4 million.
  • Eliminated processing backlogs and improved treasury product customer session times throughout the branch system.
  • Re-deployed and coordinated inter-group marketing against target customer segments and service staff against customer demand.

The bank eliminated backlogs, improved customer experience throughout the branch system and increased market capitalization by US $900 million.

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