Edgevantage - Case Studies Standard Chartered Bank, Sri Lanka
Electronic Funds Transfer
The bank receives numerous requests from different customer groups each day. The requests are received by phone, fax, email and snail mail, and include account opening, sub account opening and changes. Standing Orders, Closures, credit card points redemptions and many others.
Some of these requests are also channelled via the branch network and there is a time lag until the branch couriers the original documents to head office.
If there are issues with the document then documents need to be sent back, causing further delays. Also mistakes on the part of the officers at Head office create further delays but since it is not measured there are significant problems in improving the quality of work, and ensuring service levels communicated to customers are met.
Business Problem
Delays in getting requests received from the bank to the processing group at Head office. Hard copy documents need to be shuttled up and down using a courier service.
Mistakes in document verification etc require the head office staff to communicate to the branch staff who in turn must communicate with the customer to obtain information.
Mistakes on the part of the processing staff which create a rework queue and interrupt the smooth flow of the process.
Inability for branch staff to check on progress and keep customers informed.
Relationship managers for the bank make requests on behalf of their clients which are sometime not collaborated by the client and therefore work initiated is time wasted.
Although tracking and follow up can be managed on an external system, data entry and authorization must be handled on the core system. There was a need to be able to manage data entry from one system to another.
A comprehensive report generated for the back office operations departments to ensure all requests have been process or that the client has been informed of problems with the request.
Solution Provided by SP
Mapped 7 different flows which include new and sub account opening, changes to accounts, call centre requests; RM requests and Credit Card Points requests.
Checklists have been introduced for branch users, call centre staff and for RM's to ensure that all mandatory information is obtained from the customers.
Documents are scanned into the system and special UI's developed to view; compare and facilitate data entry between systems.
The system monitors and tracks rework arising from user error and updates efficiency scores for each user enabling supervisors to identify users who are inefficient and cause stress on the process.
The system also ensures that all tasks are performed within given time limits so that Turn Around Time to customers can be provided consistently.
In many of these processes the options requested by the customer create the need for sub processes. Therefore the system carried several validations which help the system channel the work to the correct sub process based check lists filled at branch level when initiating the workflow.
Based on responses to checklists the system automatically route processes to different team to action requests received from customers.
The system contains online reports to check progress of each process through the system reducing the need call and manually follow up with the process team.
The system also generates offline reports to reconcile work done on the core banking system at the end of day.
The system contains a host of real-time reports so that manages and process owners can track and monitor the health of their process across the different functional divisions.
Vision & Mission
