Challenge
This major Australian bank was seeking to improve the customer experience and operational performance of its digital personal lending process.
The bank's internal process improvement team was experiencing difficulty gaining traction on a high-profile initiative designed to improve application flow, reduce customer Time-to-Decision and increase conversion rates.
Members of the Cinc team were engaged to accelerate delivery while simultaneously building the capability of both the bank's process improvement and operations teams to support ongoing continuous improvement after consulting support was withdrawn.
Approach
Working side-by-side with the bank's internal improvement team, the focus shifted rapidly from analysis to implementation, with the first process changes deployed within nine days.
The initiative focused on:
End-to-End Flow Management
Shifting operational focus away from individual service level agreements and towards end-to-end customer flow and effective line balancing.
Workflow and Capacity Management
Introducing twice-daily capacity planning and improved workflow controls to balance demand and reduce work-in-progress.
Process Automation
Implementing domestic automation solutions to eliminate manual offshore data-entry activities and simplify workflow execution.
Capability Development
Training all staff in the principles of process flow and providing targeted leadership development for frontline leaders focused on active performance management.
End-to-End Process Redesign
Extending flow-based improvement principles beyond application assessment to reduce the overall time from application to drawdown.
Feedback
“You guys have achieved more in the last 6 weeks than we have in the past 2 years” - Project Sponsor (General Manager, Product)
Team members involved: Peter Campbell
NB This engagement was delivered prior to the establishment of Cinc. The experience and results described reflect work personally delivered by the team members identified above.