Building Competitive Advantage for an International Retail Bank

I. Description

A major retail bank was laying out its strategic plan and realized that they were not ready to execute their new approach for business transactions.
The facility layout did not accommodate customer specialization.
In addition, the staff and skills were mismatched for this new business program.

II. Methodology

Created new organizational structure with a focus on the customer experience by: • Re-engineering work processes and work flow, leveraging Multi- Observational Studies for activity analysis and data collection for tellers and agents • Designing a new branch layout to accommodate specialization of service levels and modification to customer queues • Developing a staffing model for all bank operations using the • Queuing Theory

III. Results Achieved

Tefen created a sustainable service operation for the bank, matching all employees with the new, specialized goals of the organization.
Over three months, the bank experienced: • A 30% reduction in cost per customer • A 50% reduction in customer wait time