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Financial institution process review - Top 5 Bank in an East African country Scope: A bank with a presence in at least 6 African countries was beginning to lose market share in most of their markets even though they competed well with regards to product offering. The bank had evolved from being a retail bank to a fully fledged bank offering corporate services as well. |
Summary of findings:
- Repetitive processes
- Non value adding processes
- Unclear procedures
- Ambiguous policy instructions
- An Ineffective approval structure
- Staff incompetence - staff took longer at tasks than expected- lacked training
- Staff de-motivation
- "Sticky" mentality - we have always done things this way
- Friction between the old and the new staff members resulting in camps- lack of team work
Recommendations:-
- Process review to address the issues identified above
- Staff re deployment which resulted in a bigger sales force than a bigger support unit as had been the case
- Streamlined process which reduce the need of a big support function
- Policy review for relevance
- Proposed a reward structure that encouraged crosses functional interaction and team work
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