Lloyds TSBwill automate 40%
ofback-officework by 2009 to cut
processing time for new accounts across its retail and wholesale
divisions, after a pilot project reduced turnaround times from 28
days to 8 days.
The bank plans to reduce the amount of manual work carried out
by its 5,000 administration staff who check and verify applications
for loans, credit cards and mortgages against several different
databases
by using
business process management software from DSTI.
The deployment is part of Lloyds TSB's Group Manufacturing
Program, which aims to reduce the number of repeated tasks across
the business, The software from DSTI automates mundane tasks,
allowing staff to cope with a higher volume of work.
The company has now gone live with the software in its estate
settlements division, which handles the transfer of funds to family
members when an account holder dies, and where turning around
decisions fast is especially important.
"Ensuring back-office
processes were
carried out in a consistent way across our divisions, reducing
error rates and turning around applications faster were the main
drivers," said Ian Thompson, managing director of group operational
services at Lloyds TSB. "Some of our business processes were
disconnected and we wanted to raise our quality of service above
our peers."
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