The ultimate objective of the SME Banking Group (SMEBG) to deliver the best customer experience required a strategy where its own transformation became an imperative. To serve its customers in the best possible way, SMEBG implemented internal changes by way of digitisation.
Manual processes were streamlined and duplication of effort eliminated through automated workflows. Aspiring to be the best SME bank meant delivering the best customer experience, by optimising processes for faster turnaround time.
SMEBG’s "SME Transformed" project began a year before the onset of the pandemic. The transformation involved integrating changes in processes, spearheading innovation in technology, and ensuring alignment of everyone involved in the engagement and implementation. This led to the decision to utilise Sales Cloud and automate lending processes from end-to-end.
SMEBG was quick to adopt a modern space planning method anchored on a plug-and-play concept that equipped all relationship managers with laptops and VPN access. This set-up also enabled ease in tracking of sales productivity and balance in work distribution, all made possible through dashboards provided to team leaders.
“We realised that we needed to change internally, that was the only way for us to ultimately offer a digital experience to our clients. By proactively taking on this transformation project, we became one step ahead in responding to the pandemic,” said Kristina Davila, Head of Business Development Division of the SMEBG. “Our relationship managers were equipped to work from home and team leaders had increased visibility into their activities."
Following the completion of the first phase of its transformation, SMEBG simplified its manual end-to-end process by an estimated 50 percent. An auto-credit investigation (CI) capability is now in place, resulting from the integration between Sales Cloud and third party bureaus, which reduced the CI turnaround time from one day to only four hours. With the credit checking process streamlined, total turnaround time was reduced to as fast as two weeks.
Part of the transformation is the use of data analytics to understand lead behaviour, strategise for growth and further increase conversions. With Sales Cloud in place, SMEBG looks forward to scaling up its leads generation and account processing.
With more enhancements underway, the RCBC transformation model is envisioned to provide a 360-degree view of SME customer requirements. This would allow better understanding of customers’ needs and provide customised solutions. The team is now focused on integrating all the relevant banking systems to deliver a seamless customer experience which include onboarding through online application, loans processing with the ease of document submission, and management of account including loan payments. Through the use of a single dashboard, clients gain access to all RCBC products, and business solutions.
SMEBG is in collaboration with the Marketing Group, which is well positioned to support these efforts as it makes great strides in its own transformation.