CIMB Group is a second largest financial service provider and the third largest company on the Malaysian stock exchange. It offers a full range of financial products and services, including consumer banking, corporate and investment banking, insurance and asset management, and its retails banking network of over 1,100 branches is the largest in Southeast Asia.
The company launched a five-year information technology transformation initiative in January 2008 to align its information technology investments more closely with its resources. It used the ARIS business process management (BPM) tool from IDS Scheer to identify 25 different areas for improving technology, people, and processes. The ARIS software helped identify gaps and inefficiencies in existing processes.
The process of opening an account at a retail branch was singled out as needing improvement. Improving this process was given high priority because its provided customers with their first impression of CIMB Group's service and customer experience.
New technology created opportunities for a short-cut. Malaysia has a compulsory identity card for its citizens and permanent residents known as the Government Multipurpose Card, or MyKad. Its is the world's first smart identity card, incorporating a microchip with identification data (such as name, address, gender, and religion) and capabilities for user authentication, government services, electronic payments, education, loyalty programs, mobile applications, and other conveniences.
CIMB Group's system-building team modified the front end of the customer account system to reduce the number of data entry screens and to accept customer data obtained from scanning a MyKad card. By automatically extracting most of the identification data required to open an account from a Mykad card, CIMB only needs to use a single data entry screen to set up new account.
CIMB group thus able to streamline the account-opening process, reducing the time required to open a bank account by 56 percent.
Source: Avanti Kumar, "Reaching for the Skies," MIS Asia, April 16, 2010.
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