Procensol provides process-centric recommendations to improve customer experience for Heritage Bank.

Improving the customer journey in a modern banking environment

    • Today’s modern banking customer often has high expectations when it comes to technology and to customer experience.  Customers are coming to expect a simplified, unified customer experience and one that is increasingly digital; and if not already, we will all soon come to expect a predictive and personal experience.

      One of the largest challenges for any bank though is to move beyond recognition of the demands and expectations of customers and to transition customer experience improvement ideas into reality in terms of processes, products and technology. We’ve worked with several financial institutions across the globe and the need to digitise and to stay ahead of customer experience expectations is a driving force behind many of our customers’ transformation programs.

      In its recent report with the World Economic Forum “The future of financial services”, Deloitte highlighted that being Customer driven was one of the key outcomes required for the future banking experience.  “As customers become more tech savvy, they’ll wield greater influence on the value propositions and customer experiences that financial institutions bring.” [i]

      Customers really are at the heart of it all and according to Deloitte and the World Economic Forum banks need to take note of pressure points from customers.

      New and disruptive alternatives are raising the bar of expectations on quality of both products and services. 

      Shifts in the power base between customer and provider are redefining the trust equation from the simple one of ‘safety and security’ to a more complex one of ‘maximum financial value’. 

      As we head towards a market ‘made for the customer’, the losers will be the incumbents that fail to re-platform their organisations to respond. [i]

      Customer Case Study: Heritage Bank – People First Focus.

      In a recent example with Heritage Bank, Australia’s largest mutual bank and one with a genuine people first focus, Procensol was pleased to contribute to the ongoing improvement of the bank’s customer experience.  Heritage, as part of its ongoing improvement and innovation efforts, engaged Procensol to conduct an independent evaluation of its customer journey.  Procensol conducted a comprehensive analysis over a three month period and as a result was able to quickly identify several process-centric recommendations specifically for improving the customer on-boarding process within the overall customer journey.

      Procensol’s process improvement specialists analysed current processes and were able to provide Heritage Bank with a framework for a future enterprise architecture that would be responsive to true business needs in the customer service domain.   Our team conducted a comprehensive analysis of Heritage Bank’s application landscape along with a review of existing process maps and information models, providing suggestions for improvement where appropriate.

      The team also provided a Current State Assessment (and review) of all types of existing customer on-boarding processes enabling them to make recommendations for future-state design with transformational customer on-boarding in mind.

      As a result of the analysis it was identified that multiple activities could be unified under the same on-boarding process. This unification of top-level processes can then provide the perfect baseline for process automation and improvement at the task and sub-task levels going forward. From here, further opportunities to personalise offerings to the customer are available.

      Procensol was excited to work with Heritage Bank in this kind of conceptual thinking. This project has given them a much clearer insight into their existing processes, and how they can be enhanced in future.

      Source: [i]


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  • About the Author


    Procensol is recognised by major enterprise clients worldwide as a leader in building process-centric solutions for Business Process Management, Digital Transformation and Innovation.

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