Banking is completely customer-centric and it is essential that if customers have an issue a well-planned step to correct the problem is taken. Based on this the set of issues that have been chalked out are then used to improve and redesign the workflow of the process. The main reason for the redesigning is to ensure better use of the resources, to cut down the cost adding steps to be reduced, the inclusion of value-adding steps and last but not the least, to increase the levels of the customer satisfaction.
Gold Coast Savings Bank has designed a new process flow for the refinancing for the home loans. The company has been faced with a number of requests during the year, and developing a process which is effective as well as fast has become a prime concern for the company. The current process flow of the bank is one with a number of issues and loopholes which is the major cause for the process to go haywire and is also now leading to a number of customers who are dissatisfied. If Gold Coast Savings Bank does not take any action immediately there is a major threat that the bank could lose a number of its current customers. This report mainly analyzes the current process flow of the bank and recognises the glitches in the process flow. Also, it provides Gold Coast Savings Bank with a new process flow to meet up to the needs of the customers and provide the customers with better services. The new process flow will also provide for Gold Coast Savings Bank with a more effective and efficient process which will reduce the workload, as well as help, organise the entire process.
Gold Coast Savings Bank has developed a process flow at present for the refinancing of the home loans. This process flow has been designed with a lot of care to ensure that the customers’ needs are met up.