Date Added: May 2010
With registering a significant growth in its transaction services, a global bank found that its business had outgrown its customer service model and information systems. There was a need to improve the customer experience of clients in its highly profitable "transaction services" business. As the business evolved and clients expanded their global footprint, the bank's traditional country-specific approach to service needed to evolve. Although local business practices remained important, clients were increasingly demanding more consistent processes and service, and a global view of their transactions. In order to achieve its goal of enhancing the customer experience, this bank sought assistance from Deloitte, a leading business management and consulting solutions provider. Deloitte helped the bank conduct a global assessment of its existing customer service operations. Then we made detailed recommendations on ways to improve. After an in-depth analysis of business needs and regional variations in systems and processes, Deloitte team assisted the bank develop a vision for the future. Specific recommendations were made for reducing complexity through simplified service processes that are standardized across geographies and aligned with strategic customer segments, improving response times through system and process improvements that enable faster analysis, status tracking and problem resolution for service requests, and reducing manual processing through automation of critical tasks. In addition, Deloitte helped in setting up a prioritized roadmap of strategic changes that would help achieve global standardization, as well as a business case that showed the required investments and expected benefits.