Business Process Model – Improved Service Delivery, Reduced Risks – UK Bank

Creating a new business process model for better service delivery – UK Bank

Synopsis:

The bank has it’s presence in many continents and is UK’s no. 1 bank in terms of assets and offerings. However they were struggling to understand their own people, process and technological capability, because of which most of the business processes were being outsourced to a third party firm.  This was true for most part and businesses for the bank.

With an intent to improve the services, we dived and helped the organization understand and achieve the best of their own workforce and businesses processes. We helped the bank create a new target operating model with an intent to optimize their own business offerings and in source their business operations to the bank’s own service centers.

The advantages were many:

a) Better Service Delivery Model
b) Scalable Sales and Service center
c) Improved Revenue stream and savings due to outsourcing
d) Better regulatory compliances as no third party data handling
e) Consistent Customer Experience due to “in control” factors
f) Robust Data handling and exceptions handling procedures.

Solution Identified:

We did a current business process and systems assessment which helped us realize that there were teams across the service delivery centers of the bank that were under utilized or non utilized which if trained and transitioned can easily handle the business being outsourced. With the focus on optimized service delivery and consistent knowledge transfer we proposed the bank a complete road map for the transition and better utilization business process model.

Outcome:

Re structured the complete offshore business operations to align to new business needs and help them realize cost benefits to the tune of $100,000 annually. There were more in control risk factors as being a financial data handling process and hence gave the bank more confidence in the way data was being handled.

Change Management post M&A exercise – US MNC

Change Management post M&A exercise – US MNC (Insurance)

Synopsis:

The firm was present in 16 countries and with an intent to become the world’s no.1 Insurance provider they decided to make a move and acquire one of the biggest competitions. In the event there was a huge exercise of two company cultures and their existing businesses to marry and all the more imperative that the business and brand does not get a hit. Hence to make it a success it needed a very strong migration & transition roadmap for it’s business services and processes and to enable that “change management” was to be exercised.

The advantages were many:

a) Improving the company’s portfolio
b) Increased reach to more than 64 countries
c) Improved customer portfolio and offerings
d) Re aligned business strategies to improve customer contact
e) Superior service delivery and better enterprise operating model

Solution Identified:

With our recommendations the firm created a new operating model and a detailed change management plan with proven migration plan.

Outcome:

The practice has been now established as the benchmark for the organization and the migration plan is the standard mode of any migration, transition that take place for any business service within or outside the organization. The change management plan was well accepted and executed to complete the merger in a seamless fashion with both the organizations culture, business services, technology and people in harmony.