Highlights
Client challenge
The bank wanted to undertake a digital transformation of their lending processes and reduce the end-to-end customer turnaround time with an increase in digital penetration.
The bank did not have any end-to-end digital journeys, and all bank branches followed physical form filling and document collection leading to increased customer turnaround time.
Physical signing of loan agreements resulted in mandatory customer visits to bank branches which would take up additional bandwidth of the branch staff and result in delays in loan disbursement.
The bank required setting up a digital vertical for processes and functions related to digital lending and digital banking.
The bank’s customer journeys required manual intervention at every leg, with involvement from multiple stakeholders across different teams, resulting in high end-to-end turnaround time.
Manual credit assessment for every case led to low employee throughput and non-standardised person-dependent sanction decisions.
KPMG in India's approach
KPMG in India used the Connected Approach over two phases. As the engagements were centred on the digital transformation of all the products across the bank, KPMG in India divided the entire programme into different workstreams, formed sub-teams and framed the outcomes expected across each team.
Phase 1
KPMG in India framed the bank’s digital vision, defined objectives and key results and analysed as-is value streams across retail, MSME and agricultural product lines.
Phase 2
KPMG in India designed future state customer journeys across 20+ products, built a value case for new initiatives, set up an implementation roadmap and drove implementation for 50+ prioritised ‘digital first’ customer journeys across product lines.
KPMG’s Approach
KPMG in India used the Connected Approach over two phases. As the engagements were centered on the digital transformation of all the products across the bank, KPMG in India divided the entire program into different workstreams, formed sub-teams and framed the outcomes expected across each team.
KPMG in India framed the bank’s digital vision, defined OKRs and analysed as-is value streams across retail, MSME and agricultural product lines.
KPMG in India designed future state customer journeys across 20+ products, built a value case for new initiatives, set up an implementation roadmap and drove implementation for 50+ prioritised ‘digital first’ customer journeys across product lines.
Result
KPMG in India reduced the bank’s operating cost by reducing the turnaround time of loan processes and improving the bank’s employee productivity.
As a result of the digital transformation programme, the bank has been ranked amongst the Top 3 under EASE 3.0, EASE 40. and EASE 5.0 Reforms Index launched by the Government of India.
Why KPMG Connected Enterprise?
As part of the transformation programme, KPMG in India covered all the five phases of Connected Approach.
Frame
- KPMG in India helped share the 5-year digital vision and strategic blueprint for the bank across retail, MSME and agricultural lending
- KPMG in India divided the entire programme into smaller problem statements and formed sub-teams and framed the outcomes expected across each team.
Discover
KPMG in India did a thorough ‘As-is’ state analysis to identify current gaps and pain-points.
Design
Based on KPMG in India’s experience and industry best practices, we designed customer-centric digital-first ‘to-be’ processes and journeys across various product lines.
Develop
KPMG in India helped the bank in development of customer DIY and employee-assisted digital journeys which were re-designed by KPMG in India.
Deliver and Evolve
KPMG in India ensured successful launch of the transformed journey and worked with the bank in its adoption.
Overview of the case
Client
A leading public sector bank in India.
Challenge
Digital transformation of the bank’s lending processes.
Outcome
KPMG in India reduced the bank’s operating cost by reducing the turnaround time of loan processes and improving the productivity of the bank’s employees.