Digital transformation for a leading public sector Bank in India

Highlights

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Defined��digital-oriented scorecards��enabling system-based decision making instead of manual interventions.
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Reduced the lead to disbursement turnaround time by��~50 per cent��through use of digital journeys.
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Pre-approved, analytics-driven offers for customers enabling��3-click, < 2-minute loan journeys.
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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.

Front-office challenge

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.

Middle-office challenge

The bank required setting up a digital vertical for processes and functions related to digital lending and digital banking.

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Back-office challenge

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.
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��㣨Leyu�� in India's approach

��㣨Leyu�� 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, ��㣨Leyu�� in India divided the entire programme into different workstreams, formed sub-teams and framed the outcomes expected across each team.

Phase 1

��㣨Leyu�� 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

��㣨Leyu�� 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

��㣨Leyu�� in India reduced the bank’s operating cost by reducing the��turnaround time of loan processes and improving the bank’s employee productivity.

account_balance

65 per cent of retail loans and 46 per cent of MSME loans sanctioned through digital channel.

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Digital journeys reduced the lead to disbursement turnaround time by ~50 per cent.

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 ��㣨Leyu�� Connected Enterprise?

As part of the transformation programme, ��㣨Leyu�� in India covered all the five phases of Connected Approach.

Frame

��㣨Leyu�� in India helped share the 5-year digital vision and strategic blueprint for the bank across retail, MSME and agricultural lending
��㣨Leyu�� in India divided the entire programme into smaller problem statements and formed sub-teams and framed the outcomes expected across each team.

Discover

��㣨Leyu�� in India did a thorough ‘As-is�� state analysis to identify current gaps and pain-points.

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Design

Based on ��㣨Leyu�� in India’s experience and industry best practices, we designed customer-centric digital-first ‘to-be�� processes and journeys across various product lines.

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Develop

��㣨Leyu�� in India helped the bank in development of customer DIY and employee-assisted digital journeys which were re-designed by ��㣨Leyu�� in India.

Deliver and Evolve

��㣨Leyu�� in India ensured successful launch of the transformed journey and worked with the bank in its adoption.

Overview of the case

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Client

A leading public sector bank in India.

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Challenge

Digital transformation of the bank’s lending processes.

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Outcome

��㣨Leyu�� 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.
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