Restructuring India's largest nationalized commercial bank
The Client
India’s largest nationalized commercial bank in terms of assets, number of branches, deposits and workforce and ranked in the Fortune Global 500 list. With the liberalization of the Indian banking industry in the mid 1990’s, the client faced stiff competition from the private sector and foreign rivals. Its market share plummeted and new challenges arose in retaining the client base. With our support, the bank went through a major restructuring process across all areas such as people, process and infrastructure.
The Challenge
The greatest challenge in the restructuring process was refining the mindset of the bank employees with long years of experience and a few years of service ahead of them. The task also involved educating the employees on the various innovative strategies and coordinated efforts required to bring about a sense of belonging to the organization and to put in place a system of accountability. The focus was on improving customer service, the inadequacy of which was seen as the primary blight that affected banking operations.This meant training all those involved in front-office and back-end operations, preparing them to deliver the highest quality of service to customers and helping the staff understand and wholeheartedly welcome the process that was falling in place.
The Solution
Learning and Development was a major initiative taken by the banks’ learning centre. We developed a customized solution for this initiative to educate the client’s staff engaged in customer service and those who were likely to be part of the system that delivered the service. Apart from training the staff in the service and delivery process, the our service included an overview of the industry and its major challenges. This overview enhanced the employees’ understanding of the need for a change in their mindset and work process.
What started as a consulting project eventually moved to program development designed and delivered in an interactive learning pattern. The process development and learning solution, customized by us, had the following focus areas:
+ Customer service management
+ New product introduction
+ Customer/channel affinity
+ Customer loyalty analysis
+ Product affinity
+ Cross selling and up selling
+ Campaign management
Business Benefits
The bank received a high value consulting with low cost, fast track process development combined with learning solution to facilitate the restructuring process. The scalable solution enabled the client to manage the in-house process with innovative and updated service trends.
The Client
India’s largest nationalized commercial bank in terms of assets, number of branches, deposits and workforce and ranked in the Fortune Global 500 list. With the liberalization of the Indian banking industry in the mid 1990’s, the client faced stiff competition from the private sector and foreign rivals. Its market share plummeted and new challenges arose in retaining the client base. With our support, the bank went through a major restructuring process across all areas such as people, process and infrastructure.
The Challenge
The greatest challenge in the restructuring process was refining the mindset of the bank employees with long years of experience and a few years of service ahead of them. The task also involved educating the employees on the various innovative strategies and coordinated efforts required to bring about a sense of belonging to the organization and to put in place a system of accountability. The focus was on improving customer service, the inadequacy of which was seen as the primary blight that affected banking operations.This meant training all those involved in front-office and back-end operations, preparing them to deliver the highest quality of service to customers and helping the staff understand and wholeheartedly welcome the process that was falling in place.
The Solution
Learning and Development was a major initiative taken by the banks’ learning centre. We developed a customized solution for this initiative to educate the client’s staff engaged in customer service and those who were likely to be part of the system that delivered the service. Apart from training the staff in the service and delivery process, the our service included an overview of the industry and its major challenges. This overview enhanced the employees’ understanding of the need for a change in their mindset and work process.
What started as a consulting project eventually moved to program development designed and delivered in an interactive learning pattern. The process development and learning solution, customized by us, had the following focus areas:
+ Customer service management
+ New product introduction
+ Customer/channel affinity
+ Customer loyalty analysis
+ Product affinity
+ Cross selling and up selling
+ Campaign management
Business Benefits
The bank received a high value consulting with low cost, fast track process development combined with learning solution to facilitate the restructuring process. The scalable solution enabled the client to manage the in-house process with innovative and updated service trends.