Success Stories
Financial Services Enterprise Goes Global with a Virtual Captive BPO Solution
Hybrid Global Service Delivery Model Helps Bank Improve Operational Efficiency
"Because we delivered a high level of service through a highly capable, experienced team that was laser-focused on adding value, the TPI team became trusted advisors at the client’s C-suite level. While the client had a strong strategy organization, we were consistently consulted throughout the strategy process." — Bill Huber Project Director, TPI |
TPI empowered a major U.S. bank to transform its business through an innovative Global Service Delivery model while maintaining focus on its domestic leadership position. In addition to providing transactional consulting to help the client achieve greater operational efficiency via the emerging “virtual captive” hybrid business process outsourcing (BPO) solution, TPI guided the client’s internal strategy team on instituting a robust governance program that would ensure ongoing success. With TPI’s assessment, negotiations and strategic guidance on a range of complex global challenges, the client transformed its business into a change-ready organization capable of seizing upon new market opportunities through shared accountabilities with an expertly matched service provider. |
THE CLIENT’S CHALLENGE
A fast growing, super-regional financial services provider faced operational efficiency challenges and wanted to proactively address them to be better positioned for future change initiatives. Areas for improvement included eliminating redundant functions, re-engineering processes and adjusting to the Global Service Delivery model to which it aspired.
The client was concerned that its efficiency and global delivery objectives might erode its culture and employee engagement, introduce a higher level of operational risk and compromise goodwill in the core customer communities. On the flip side was the risk that cultural inertia would lead the company down a path of minor incremental improvements that would fall short of its objectives and place it at a competitive disadvantage.
While helping the client negotiate a partnership with the service provider it had identified to enable its transformation, TPI’s advisors were mindful of these specific challenges:
- The client exhibited uneven “change readiness” across all levels of the organization.
- The client’s revenue model, operational footprint and internal culture were largely “North American-centric.” The selected Global Service Delivery model had to support the client’s objective of improving operating efficiency and driving process improvement.
- The client needed to balance the resources required for global expansion with other priorities across the organization, including organic growth initiatives, customer service excellence, merger integrations and more.
- It was imperative to address bank regulatory and risk considerations (Sarbanes-Oxley and other compliance), federal oversight regulations and banking industry working group guidelines for mitigating technology outsourcing risks.