A business process reengineering study on the import department of ABC Bank

ABC Bank (not the real name) is one of the five highest capitalized banks in the Philippines. With the recent liberalization of the Philippine banking industry in 1995, the members of the Administration at ABC Bank\u27s international division have expressed their concern over the competition that is posed by the foreign banks and other non-bank monetary institutions. The Executive Vice-President of the International Division presented the study group with the possibility of meeting or exceeding international import financing operations and practice standards for head-to-head competition with the foreign banks.From an extended appraisal of the Import Department\u27s present system, the study group identified the Import Department\u27s main problem as system obsolescence : there has been no change in the system of the Import Department of ABC Bank since 1976 despite a 193 change in yearly transaction volume since that time. Following this statement, sub-problems related to the absence of evaluation procedures, lack of equipment, the absence of appropriate training, unnecessary overtime, and redundancy of forms were identified.The main objective of this study is to revise the design of the system of the Import Department to meet the increasing volume of import transactions and provide better services to customers. To achieve this objective, this study developed means of regular evaluation of processes, performance, industry and customer requirements and levels of satisfaction updated the Bank\u27s management policies and principles to meet the needs as determined from the evaluation procedures and developed means for continuous education of both management and staff. For these ends, the study group designed a system that reduced the number of manual tasks by 74 and the number of officer or manager checking tasks by 56, eliminated all unnecessary requirements, duplicate forms, ineffective and excess work included empowerment in trade financing terms negotiation and decision making ensured zero floats, and the correspon