Bank Rakyat, one of Malaysia’s prominent financial institutions, had built a strong reputation for its customer-centric approach and commitment to delivering high-quality banking services. However, in the face of rapidly evolving market dynamics and increasing customer expectations, the bank recognized the need to transform its Change Management and Quality Assurance Framework. The existing framework lacked alignment with international best practices in Service Management, hindering the bank’s ability to adapt to change efficiently and maintain its competitive edge.
In response to these challenges, Bank Rakyat engaged the services of Cybiant, a renowned consulting and advisory firm with expertise in digital transformation and service management. The objective of the project was to redesign the Change Management and Quality Assurance Framework, ensuring alignment with international best practices and enhancing the bank’s overall service management capabilities.
2. Client’s Challenge
To enhance its overall service management practices, Bank Rakyat recognized the need to revamp its Change Management and Quality Assurance Framework. The existing framework had become outdated and lacked alignment with international best practices, hindering the bank’s ability to adapt to changing market demands efficiently.
3. Cybiant’s Solution
Cybiant, a renowned consulting and advisory firm specializing in digital transformation and best practices, was chosen by Bank Rakyat to lead the redesign project. The objective was to align Bank Rakyat’s Change Management and Quality Assurance processes with international best practices in Service Management. Cybiant’s expert team devised a comprehensive plan to address the client’s requirements effectively:
3.1 “As-Is” Assessment
The project began with a thorough “As-Is” assessment, where Cybiant’s team evaluated Bank Rakyat’s current people, processes, and technology. This assessment involved engaging with key stakeholders, conducting workshops, and analyzing data to gain insights into the strengths and weaknesses of the existing framework.
The assessment revealed opportunities for improvement in several areas, including organizational structure, workforce capabilities, process inefficiencies, and technology gaps. Cybiant presented the findings to Bank Rakyat, fostering a shared understanding of the current state and the need for change.
3.2 Maturity Assessment
To understand the maturity level of Bank Rakyat’s Change Management and Quality Assurance practices, Cybiant performed a comprehensive ITSM maturity assessment. This evaluation involved comparing the bank’s practices against established industry benchmarks and international standards in Service Management.
The maturity assessment highlighted areas of improvement and provided a clear roadmap for enhancing the bank’s service management capabilities. It enabled Bank Rakyat to gauge its performance relative to peers and industry leaders, identifying gaps and potential areas for differentiation.
3.3 Process Definition and Review
Based on the insights gained from the “As-Is” assessment and the maturity evaluation, Cybiant collaborated closely with Bank Rakyat’s teams to define and redesign new, improved processes. These processes were carefully crafted to align with international best practices in Service Management.
The redesigned processes encompassed various aspects, including change request handling, incident and problem management, service level agreements (SLAs), and performance measurement. Special attention was given to integrating IT service management (ITSM) principles to enhance overall operational efficiency.
3.4 Process Rollout and Training
With the new processes defined, Cybiant assisted Bank Rakyat in implementing the changes across the organization. This rollout required a well-structured change management approach to ensure a smooth transition and minimize disruptions during the transformation.
Cybiant conducted training sessions for employees, managers, and key stakeholders, empowering them with the knowledge and skills necessary to adopt the new processes effectively. The training emphasized the importance of embracing a service-oriented culture and understanding the value of adhering to international best practices.
3.5 Future Service Improvement Roadmap
Recognizing the significance of continuous improvement in service management, Cybiant worked with Bank Rakyat to develop a future service improvement roadmap. This roadmap outlined the bank’s long-term vision for enhancing its Change Management and Quality Assurance practices.
The roadmap encompassed a range of strategic initiatives, including the adoption of emerging technologies, process automation, talent development programs, and performance measurement frameworks. Cybiant collaborated with the bank to set measurable goals and establish key performance indicators (KPIs) to track progress and drive ongoing improvement.
4. Results and Impact
The collaboration between Cybiant and Bank Rakyat yielded tangible and intangible results, positively impacting the bank’s service management capabilities:
Streamlined Change Management Processes: The redesigned Change Management processes led to improved efficiency and responsiveness. Bank Rakyat could now handle change requests promptly, reducing the time taken for service adjustments and minimizing the impact on customers.
Enhanced Quality Assurance Practices: With robust quality assurance protocols in place, Bank Rakyat witnessed a rise in customer satisfaction and confidence. The bank’s commitment to delivering high-quality services garnered greater trust from its clientele.
Improved Risk Management: The new framework incorporated comprehensive risk management strategies, enabling the bank to proactively identify and mitigate potential risks. This strengthened the bank’s overall stability and safeguarded its reputation.
Organizational Maturity and Alignment: The maturity assessment and adoption of international best practices elevated Bank Rakyat’s service management maturity level. The bank now had a better understanding of its performance compared to industry benchmarks, facilitating targeted improvements.
Future-Ready Roadmap: The future service improvement roadmap provided Bank Rakyat with a clear direction for continuous enhancement and adaptation to market changes. The bank was now equipped to anticipate future challenges and capitalize on emerging opportunities.
The successful collaboration between Cybiant and Bank Rakyat in redesigning the Change Management and Quality Assurance Framework marked a significant milestone in the bank’s journey towards service excellence and operational efficiency. Through the meticulous “As-Is” assessment, maturity evaluation, process definition, and training, Bank Rakyat embraced a culture of continuous improvement and a focus on international best practices.
The transformation empowered Bank Rakyat to navigate the evolving financial landscape with confidence and resilience, positioning the bank as a leading player in Malaysia’s competitive banking sector. The redesign project highlighted the value of strategic partnerships and the impact of incorporating international best practices to achieve excellence in service management. As the financial industry continues to evolve, Bank Rakyat stands poised to meet future challenges and thrive in an ever-changing landscape.