Bank of Ayudhya recently embarked on a multi-year strategic business transformation initiative, including a branch improvement project, which aims to simplify processes and reduce system errors.
September 19, 2016 | Gaurav Malik- The operating model was aligned with Krungsri’s “Make life simple” proposition
- The project provided a 360 degree view of and unified access to customer information
- Reporting processes were improved and system redundancies and errors were reduced
Many leading banks are exploring new financial products and service options that will enable them to grow their customer base as they focus on three key areas: meeting customers’ expectations, optimising costs, and keeping pace with competition.
In Thailand, branches are continuously playing an important role as a customer transaction point despite a strong digital penetration. Bank of Ayudhya (Krungsri), a strategic member of the Mitsubishi UFJ Financial Group (MUFG) and the fifth largest bank in the country with an asset base of $50.5 billion as of June 2016, has sought to revamp and improve its systems to provide better customer experience. The bank had high branch transaction volumes and has planned to implement a highly efficient system.
Krungsri’s innovative processes and branch automation system were aided by FIS’ technology. The technology helped employees to process bank transactions using shorter processes through a one-click capability. At the same time, it provided them a summary and history of customer transactions. The project, which has resulted to stronger customer satisfaction and significant cost-savings to the bank, was awarded as the ‘Best Branch Automation Project’ during The Asian Banker Technology Innovation Awards 2016.
The challenge
Krungsri has a total distribution network of more than 680 branches, of which 644 were banking branches and another 37 are auto business branches in Thailand, serving over 7.8 million customer accounts. The bank sought to implement a more efficient, automated and flexible system at its branches.
Krungsri decided to revamp and overhaul its branch automation s...
Categories:
Branch Banking, Customer Centricity, Customer Relationship Management, Retail Banking, Technology & OperationsKeywords:BAY, MUFG, Customer Experience, Technology, Branch Automation, CRM, IT, CSR
Bank of Ayudhya recently embarked on a multi-year strategic business transformation initiative, including a branch improvement project, which aims to simplify processes and reduce system errors.
September 19, 2016 | Gaurav Malik- The operating model was aligned with Krungsri’s “Make life simple” proposition
- The project provided a 360 degree view of and unified access to customer information
- Reporting processes were improved and system redundancies and errors were reduced
Many leading banks are exploring new financial products and service options that will enable them to grow their customer base as they focus on three key areas: meeting customers’ expectations, optimising costs, and keeping pace with competition.
In Thailand, branches are continuously playing an important role as a customer transaction point despite a strong digital penetration. Bank of Ayudhya (Krungsri), a strategic member of the Mitsubishi UFJ Financial Group (MUFG) and the fifth largest bank in the country with an asset base of $50.5 billion as of June 2016, has sought to revamp and improve its systems to provide better customer experience. The bank had high branch transaction volumes and has planned to implement a highly efficient system.
Krungsri’s innovative processes and branch automation system were aided by FIS’ technology. The technology helped employees to process bank transactions using shorter processes through a one-click capability. At the same time, it provided them a summary and history of customer transactions. The project, which has resulted to stronger customer satisfaction and significant cost-savings to the bank, was awarded as the ‘Best Branch Automation Project’ during The Asian Banker Technology Innovation Awards 2016.
The challenge
Krungsri has a total distribution network of more than 680 branches, of which 644 were banking branches and another 37 are auto business branches in Thailand, serving over 7.8 million customer accounts. The bank sought to implement a more efficient, automated and flexible system at its branches.
Krungsri decided to revamp and overhaul its branch automation s...
Categories:
Branch Banking, Customer Centricity, Customer Relationship Management, Retail Banking, Technology & OperationsKeywords:BAY, MUFG, Customer Experience, Technology, Branch Automation, CRM, IT, CSR
