The Global Business Services (GBS) unit at Standard Chartered has been awarded Highly Commended (HC) awards in the Excellence in Client On-Boarding and Excellence in Employee Engagement categories at the RBI Asia Trailblazer Awards 2021.
GBS is a wholly-owned subsidiary with 1,800 full-time equivalent (FTE) staff across five hubs in India at Chennai and Bangalore; in China at Tianjin and Guangzhou; and in Kuala Lumpur, Malaysia servicing our Consumer, Private and Business Banking – CPBB business
Excellence in Employee Engagement
The Standard Chartered unit supports 20 markets across Asia, handling two and half million onboarding transactions per year. Its employee trophy was given for:
- A work from home model created in 2020 in anticipation of pandemics like Covid-19 or other disruptions that acknowledges minimum staff level requirements in office, remote procedures, local authority rules, and so on. It was formalized this year to ensure on-going staff safety, further improve work / life balance, so that GBS CPBB team is future-proofed for business continuity in the years ahead.
- Daily engagement processes created at team level to spot any operational and/or health issues, and provide appropriate help. For instance, at one stage the GBS India team had 10% of staff impacted by Covid-19, so easy ambulance or oxygen availability was implemented, insurance benefits, tie-ups for medical care, financial help in the form of salary advances, and so on were quickly actioned. Latterly, GBS has contracted to procure bulk vaccines for staff and family.
- GBS ‘Big call’ was set up where help items can be discussed, socialized and attended to. Regular departmental online calls shared common work enquiries or problems, sometimes across borders, and feed back effective resolutions for the entire organization.
- Proactive intense planning was done to cross-train staff and maximize resources to ensure there was no adverse impact on business delivery during Covid-19. Service Level Agreements (SLAs) have been met across the various markets.
Excellence in Client Onboarding for Singapore clients
The India-based GBS team overhauled by using their knowledge to revise Singapore on-boarding procedures. Digital applications emanating from there for Credit Cards and Personal Loans (CCPL) and Current Account/Savings Accounts (CASA) have been overhauled to ensure that they are fully automated and optimized. This roll out benefits the GBS’ and IT expertise across the entire SCB Singapore.
A ‘Rapid Improvement Event’ with Singapore representatives and the processing team India brainstormed together and the motto was to focus on quick wins rather than working on big items, which might consume the cost / time. Other big wins, were:
- Integration with Singaporean Government website – Myinfo: This helps customers to apply for CCPL / CASA products, without any additional paper document submissions at all.
- A single click functionality: given to Relationship Managers (RM) for ‘existing-to-bank’ customer on-boarding. This accommodates static data and speeds things up.
The result is that CCPL customers can now get their products in 10.8 seconds, while CASA customers can receive their products in 9 seconds. This a vast improvement, especially when compared to some rival banks that still use paper applications that can take anything between 5-7 days to process.
Additionally, an anominality spotter was developed to identify any suspect payslips and prevent automated on-boarding and associated compliance risks. Some of the other tools deployed to deliver full automation and on-boarding time improvements for Singaporean clients, included:
- A different image workflow system to give a better process efficiency & client experience.
- Downloadable online applications create a single work item to ease operational processing and any very rare exceptions-handling issues.
The efforts of the team resulted in increased digital adoption rates(80% over 2020) as the ease and speed of the procedure became evident and enhanced internal efficiency.