Client Situation
Our client is amongst the largest private banks in India with over 1,600 branches and an asset size of USD 52 Billion. The bank operates across retail, business, corporate and wealth segments. As part of business and corporate banking strategy the bank was looking to initiate the development of a transaction banking portal for its SME and corporate customers.
Cedar’s Approach
Cedar was mandated to assist the bank in building the portal to improve the overall experience of the customer.
- Conducted a voice of customer across over 400 SME's and corporates.
- Identified initiatives for the corporate channel transformation.
- Developed the design principles of the portal based on the voice of customer.
- Detailed the scope of the design vendor selection.
- Evaluated the design vendor based on experience and capabilities.
- Designed the custom journey maps across areas for redesigning.
- Identified key business capabilities across domain areas.
- Built a detailed business requirements specification of 950+ requirements covering all areas and businesses (Product, Wholesale banking, SME banking) based on the voice of customer.
Outcome
The focus on improving corporate and business customer experience by offering transaction banking capabilities. The result included
- Utilised the voice of customer results to identify the design principles of the new portal.
- Identified and shortlisted the potential design vendor for further discussions with the bank.
- Defined the design principles to create a wow factor for the customers of the bank based on the voice of the customer.
- Evaluated the portal design options with the design vendors shortlisted.
- Redesigned the 5+ journey maps for the customer across segments.
- Identified and prioritised 4 different initiatives for transaction banking over a period of 2 years and built the charters for each project for governance.
- We made strategy and innovation work.