Karol Horváth
Increasing the competitiveness of the financial institution
Improving the position of the bank’s key product
Improving the position of a key product for a bank often becomes more of a process-related challenge rather than a product-focused one, especially when product parameters are very similar. Nowadays, customers make their choices based on the credibility and simplicity of the entire process. Therefore, we have assisted several financial institutions in enhancing their processes to ensure that customers have no reason to turn their attention elsewhere, such as due to slow loan approval or leasing processing.
Through risk analysis, professional benchmarking, process consolidation, precise KPI (Key Performance Indicator) setup for individual subprocesses, value stream analysis, segregating unsuitable cases into separate processes, preventing case cycling, and employing various other methodologies, we have set a trend in process improvement. This ensures that customers find the process efficient, reliable, and aligned with their expectations, leading to increased trust and loyalty.
A specific solution for the client
The outcome was a 32% reduction in customer processing time, a 62% decrease in the number of repeated process steps due to process quality issues, a 21% increase in the accuracy of offered loans, and a 50% reduction in the number of in-person bank visits for loan processing. This not only strengthened the banks in their key market segments but also resulted in cost savings, as the workload for employees handling key products decreased by 17% while dealing with the same number of cases.
