Banking & Insurance
Banks and insurance companies can take the opportunity of the financial crisis to reinvent themselves
The financial crisis has raised a number of questions to which banks must find the answer. Not only on a strategic level, in terms of future business model, need for restructuring and deinvestments, but also impacting the operational management.
How does the crisis impact the behaviour and the preferences of your customers? How do you need to organise yourself to respond to these? How can you improve your cost-efficiency to deal with the pressure on the margins? How can you increase the control on your financial and operational risks? How will all of this help to correct the negative perception of financial institutions?
Also insurance companies face new challenges in the changing environment. How do your insurance customer behaviour and preferences evolve? How can you become a leaner organisation without compromising on quality of service? What are the implications of the evolution towards new solvency requirements? What benefits can you realise in grasping the multichannel distribution model opportunities?
Partnering with the Banking & Insurance Industry, especially in challenging times
The projects and programmes contribute to the realization of benefits of various nature
- Improved understanding customer requirements and preferences, improved customer satisfaction
- Significant reduction of throughput times
- Significant cost per unit decrease, FTE reduction, improved workload balancing
- Error rate decrease and increased process compliance thanks to workflow management
- Increased sales through distribution channel development and improved third party management
- Increased process management maturity (ownership, Center of Excellence, ...)
Typical projects and programmes …
- Groupwide: setup and guidance of an Operational Excellence Programme, including development and installment of process governance
- Banking/Global Trade Services: improvement of documentary credits processing, department reorganization and installment of scanning application
- Banking/Retail, Credits: reduction of administrative burden in the term deposit process
- Banking/Payments: improvement of processing of domestic payments, process automation and back office centralisation
- Banking/Distribution: process improvement of cross-channel new customer acquisition process, from lead generation to customer onboarding
- Banking/Retail, Credits: redesign of retail- en wholesale processes and operations management, deployment of new operating model, change management, implementation of visual management
- Banking/Asset management: process redesign for swap management of structured products, and for the launch process of new funds, including business requirements definition for the supporting tool
- Banking/Asset management: redesign and implementation of client reporting process
- Banking/Securities: optimisation of back office processing for own funds for other financial institutions
- Banking/Securities: client administration processes redesign (acceptation, contract management, registration) and business requirements definition
- Banking/Credits: redesign of end-to-end mortgage processes and third party development
- Insurance/Non Life: process improvement track on the Claims Handling process within the context of a major IT implementation
- Insurance/Non Life: reorganization of the centralised policy administration
- Insurance/Life: Lean Quickscan and improvement projects for the payments processes
- Groupwide: programme management for international business-ICT programmes
- Banking/Corporate Banking: process improvement tracks and operations management optimization (KPI implementation, workflow solution, team organization)
>> More information: contact Pieter-Jan Pattyn