Spectra Mind solutions Case Study

Customer Issue Analysis & Resolution for New Cash Management System for TBC Bank Georgia

Situation

  • Founded in 1902,TBC Bank ,Georgia is the oldest and largest privately held bank in the Europe Headquartered in Tiblisi, Gerogia, the bank provides relationship-based commercial banking, private banking, trust administration and investment management services through more than 40 financial centers in Georgia and Turkey .
  • TBC Bank offers an integrated suite of online commercial services to regional companies, its most important customer base. In November 2013, the bank transitioned its legacy cash management system, which it had developed and customized over a period of 20 years, to a more modern solution. However, the transition was complex — despite months of planning and regular communications with clients prior to the transition, WA Trust experienced an unprecedented amount of customer calls and reported issues after the new system went live.
  • The conversion touched every commercial customer and process, particularly in the area of ACH (automated clearing house) transactions, which companies rely on to fulfill payroll to employees and payments to vendors. With a significant issue backlog, the bank’s internal resources were tasked well beyond normal working hours and responsibilities.

Challenge

  • During the initial rush to assist customers through the transition, the bank realized it needed a mechanism to identify and prioritize gaps in the initial customer interactions, define usability issues, and most importantly, to provide a sense of security and credibility to its customers. Time was the most immediate factor, with customers demanding help on the first day the system went live, not understanding what was taking place or how to use the new platform. Although many customers ignored the bank’s pre-communications regarding the new system, TBC Bank took responsibility to resolve the problems.
  • The transition also highlighted a classic change-management issue: In spite of many hours of pre-conversion training, long-tenured bank employees who were comfortable with running the old system were significantly challenged by the change, requiring the bank to revisit its approach to internal processes.
  • TBC Bank found itself in unfamiliar territory. Seeking a consulting company with deep experience in complex transitions, the bank turned to Spectramind Consulting.

Solution

Following the implementation of the new system, Spectramind ‘s Consulting provided a fast and effective business analysis solution for TBC Bank, Spectramind ‘s goal was to help identify the remaining transition issues and enhance the bank’s communication channels to prevent similar issues in the future.

During the project, Spectramind business analysts:

  • Met with key people at the TBC Bank head office in Spokane, gaining a strong understanding of the platform, known issues, and customer expectations and workflows.
  • Performed a gap analysis to identify, categorize, and document patterns and processes to improve repeatable training as well as issue discovery/resolution.
  • Partnered with bank personnel to meet directly with customers to understand issues and help document solutions for future use.
  • Held a series of workshops to document and recommend improvement to customer-service processes.
  • Following a rapid and thorough analysis, Spectramind developed an exhaustive list of customer and internal issues. As part of this effort, Spectramind visited key customer locations with a TBC Bank commercial client services representative to work through the most pressing concerns together. This process drew highly positive customer feedback.
  • Following the consolidation of the issues, Spectramind facilitated sessions with key stakeholders at the bank to establish priorities and focus in on the most important platform issues. These issues were then brought to the software vendor’s attention at a three-day onsite visit with programmers, analysts and project managers from both sides.
  • A key element of the gap analysis was a thorough review of the bank’s internal processes. TBC Bank operations staff, personal services group, and front-line employees are located in different offices spread throughout the Pacific Northwest. As both new and existing customers are touched by each entity, Spectramind documented processes across all groups for each customer type, facilitated improvement workshops, and provided recommendations to improve processes and communications.

Results

By providing a fresh set of eyes and objectivity to the online-banking transition project, Spectramind helped the bank to prioritize issues and strengthen relationships with its most important customer base. Customers have reported very high satisfaction with the bank’s willingness to invest in a process to listen to them and help solve their issues.

The gap analysis led to numerous rapid fixes to common issues, which were documented and communicated throughout TBC Bank . In addition, the technology vendor delivered fixes for the top 20 reported platform issues within three months of the gap analysis.

Internal processes and communication have received a tremendous spark from Spectramind ‘s expertise in business process analysis. One of Spectramind ‘s final recommendations to the bank was to develop a custom steering committee for large projects, which was quickly implemented. Documents have been redesigned for employees regarding new communication and training processes. The new communication channels opened as part of Spectramind ‘s analysis and process reform have reduced the “silo” effect and engendered new levels of trust between the bank’s regional offices.

TBC Bank plans to transition its online consumer banking platform to the same platform in late 2014, and the work provided by Spectramind ‘s will ensure a smooth transition. TBC Bank upper management made it mandatory that all bank employees transition to the platform by June 2 to gain familiarity with the product, share feedback, and head off potential issues before they occur. As many of the bank’s commercial customers are also users of its consumer online platform, these measures help strengthen the confidence level across the entire customer base.