Financial services

This bank is among the leading banks in Central and Latin America and an ally of European financial institutions with interest in expanding their activities in this field. The project focuses on the distribution of a Services Loan.

This division faces a high and growing percentage of bad debts caused by (a) the difficult economic situation of the economy in the region at that time and (b) the low rate of credit recovery. This situation negatively affects customer relationships, thus exacerbating the problem.

The K & IC project focused on: (i) improving organizational processes and orienting them towards customer satisfaction; (Ii) increase staff involvement; and (iii) identify and meet needs for skills development and information management. The steering team decided to focus on the human aspect and not on the processes themselves.

Participants in the Six Sigma improvement project were distributed to 9 teams working in parallel on different division processes and different areas. Six months after the project was completed, the department staff, with access to a redesigned IT system and personalized learning programs, began to positively impact the relationship between the division and its customers.

According to the bank’s leadership team, this is reflected in rising payment rates dept. Changeland consultants were asked to apply a similar approach to other areas of the bank.

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