Delivery

How to design
customer-centric
business processes in
the banking industry
Diana Heckl
Project Manager at ProcessLab1, Frankfurt School
of Finance & Management

Jürgen Moormann
Professor of Banking and Head of ProcessLab,
Frankfurt School of Finance & Management

Abstract
Banks and other financial services providers continuously
claim to offer customer-oriented services, yet they still focus
on delivering products instead of providing solutions to their
customers’ needs. For instance, banks offer business custom-
ers only products and services that solve isolated problems,
such as liquidity, financing, and investment services, and
fail to reflect the intrinsic requirements of business clients,
such as procurement, order fulfillment, and sales. Hence,
customers are rarely fully satisfied with banking services.
Consequently, the consistent alignment of financial services
to customer processes becomes increasingly important for
enhancing the competitiveness of banks. This paper will pres-
ent the design of a customer-centric business process model,
which allows banks to closely align their business processes
with those of their customers and as a result achieve a high
level of customization and to provide a new spectrum of
services that add value to the clients. The sample that will
be analyzed in this paper will comprise of small and medium-
sized enterprises.

1 ProcessLab is a research cluster at Frankfurt School of Finance & Management.

The cluster is focused on bank-related process management issues. 67
 How to design customer-centric business processes
in the banking industry
The need for customer-centricity in banks
In most economies, small and medium-sized enterprises
(SMEs) play a vital role in contributing to the national GDP.
To accomplish their business goals SMEs have an enormous
need for financial products. This is what makes this customer
segment most attractive to banks. To be successful in the
SME segment banks have to offer a high level of customiza-
tion. Such customization requires the consistent alignment of
all banking activities towards the customer’s requirements,
expectations, and wishes [Tseng and Piller (2003), Hammer
(2002)]. In most banks today, this alignment only includes
serving the customer fast and courteously, as well as being
at the customer’s disposal in case of questions and problems
with certain products and services [Caselli (2005)]. But cus-
tomization should not be limited to supporting the customer
in arranging the financial products which are demanded. In
order to achieve true customization a clear focus on the cus-
tomer’s preferences and expectations is absolutely essential
[Vandermerwe (2000), Edvardsson (1997)]. The processes of
the clients have to be understood thoroughly. Product-orient-
ed thinking has to be transformed into customer-centric and
process-driven thinking, turning the processes of a client into
the starting point of all business activities of the bank.
An appropriate instrument for a holistic identification of the
customer’s requirements can be seen in the concept of cus-
tomer processes. A customer process can be characterized
as the entire value chain that a customer passes through
to meet a desired outcome or to solve a problem. Such a
process comprises every single step until a specific wish has
been fulfilled or the solution for a problem has been found
[Behara et al. (2002)]. Business processes which are strictly
focused on identifying and meeting the needs of custom-
ers are called customer-centric business processes [Bolton
(2004), Chen and Popvich (2003)]. Piller and Möslein (2002)
describe the approach as “integrating the customer into
value creation.”
Literature on the design of bank-related business pro-
cesses based on customer processes is still scarce. A helpful
68 - The   journal of financial transformation
approach has been provided by Heinrich (2002) for retail
banking. He argues that the processes and the resulting
requirements and expectations of customers should be the
starting point of the conceptual design of a process model.
Heinrich proposes that all basic requirements of the cus-
tomer should be specified. With the customer processes in
mind, the bank should determine which parts of a process
should be handled by the bank to fulfill the real needs of the
customer. Then the decision has to be made about which
activities should be carried out in-house or externally and
which role cooperating partners should play.
In this paper, the design of a customer-centric business
process model will be presented. The model allows banks
to closely align their business processes with the processes
of their customers (SMEs). The result will be a high level of
customization and a new spectrum of services which provide
added value to customers. In the following section, the basic
requirements of SME clients will be specified and structured.
It might be difficult for business clients to exactly formulate
their basic requirements; hence they have to be derived from
the structure of the client’s business, which is reflected in
its processes. For this purpose, the SMEs core, support, and
management processes have to be identified. Additionally,
all customer processes that can be reasonably supported by
banks have to be selected. Subsequently, the current cus-
tomer process orientation of banks within the SME segment
will be analyzed. On this basis, a specific customer process
will be described and analyzed in terms of the support it is
receiving from the bank. Finally the authors will establish a
process vision, as well as the design of a process model, to
support the SMEs’ business.
Identification of customer processes
In the case of the SME segment, customer processes are
those that an enterprise passes through in order to satisfy
its needs. Within its diverse processes, an SME client needs a
multitude of information, services, and products. These can
be obtained from various suppliers, including banks, advo-
cates, delivery services, and others. Since literature does
How to design customer-centric business processes
in the banking industry

not provide a process model for SME clients a survey was
conducted. The companies surveyed represented a number
of different industries (excluding service companies) and
had revenues ranging from €2.5 million to €200 million.
Four-hundred-and-fifty companies were randomly selected
from the database of a large German bank (DZ Bank AG).
The questionnaires were mailed to the companies with the
request to reply within a period of four weeks. Ninety-one
questionnaires were sent back, which equates to a response
rate of 20.2 percent and corresponds with previous studies
[Appiah-Adu and Singh (1998)].
Figure 1 provides the responses to the questions concerning
which processes should be considered as established busi-
ness processes of SMEs. The figure shows all the processes
that at least two-thirds of SMEs characterize as established
processes in their organization.
These established processes are very different from those
currently supported by banks. Core processes, such as
planning (39.7%), distribution management and controlling
(38.1%), and acquisitions and sales (30.2%), were regarded
by the respondents as those that receive inadequate atten-
tion from the banks and are not typically included within the
current list of products and services that are supplied. The
results of the survey also show that the respondents desire
explicit support from banks for the core process acquisition
and sales (23.5%). Moreover, they regard the banks’ support
in a number of sub-processes as very important. Finally, the
results clearly highlight that SMEs would like process support
from their bank — but only for processes that they expect the
banks to possess adequate competence.
Assessment of the current customer process
orientation in banks
Business processes consist of a comprehensive chain of
value-creating activities that generate specific outputs
required by customers and whose results have strategic
importance for the enterprise [Davenport (1993), Hammer
and Champy (1993)]. The combination of all business pro-

Business processes

Core processes Support processes Management processes

Acquisition Production Order Assure quality Human Money and credit Resourcing Planning Distribution Others
and sales fulfillment resources provision management and
controlling

Acquire Plan asset Accept order Employ staff Analyze liquidity Analyze supply Distribution Production Wage
customers requirements market planning controlling compensation

Provide offer Plan financial Plan order Train junior staff Plan liquidity Analyze resource Production Procurement
requirements requirement planning controlling

Negotiate Plan schedule Implement Personnel Determine capital Procurement Procurement Staff
contract order administration requirements planning controlling

Order Plan Delivering Pay employees Raise capital Resource Personnel Financial
processing capacities storage planning controlling

Plan machine Invoicing Employee Apply for Financing

scheduling protection capital planning

Produce Accounts Staff capacity Financial Account

products receivable planning reporting management

Check Cost and profit

quality management

Warehousing Controlling

Figure 1 – Business processes of SME clients

69
 How to design customer-centric business processes
in the banking industry
cesses culminates in the fulfillment of a superior company
mission, namely the achievement of superior profits. But to
what extent have banks implemented a customer-centric
process structure? And to what extent are the processes of
SME clients used as the starting point for the process design
in banks? To gain some insight into these questions we
polled a number of experts, using a semi-structural interview
format. The interviewees were chosen from the five largest
banks in Germany (Deutsche Bank AG, Dresdner Bank AG,
Commerzbank AG, DZ Bank AG, and LBBW). Five in-depth
interviews were conducted with managers who were respon-
sible for the SME business process design at their bank.
All interviewees described SME clients as a ‘strategic business
segment’ within their bank due to their profit potential. All
five banks regarded the importance of business with SMEs as
very high and said that customers’ needs and expectations
represented the focus of their customer service. An ambitious
objective of their customer counseling is to provide compre-
hensive advice based on the requirements of the customer.
However, the support of certain critical customer processes
is rarely taken into account. The interviews showed that very
often SME clients are merely being offered rather general
support. To be precise, the current support is limited to the
process of money and credit provision and a few sub-pro-
cesses related to providing information. Processes such as
the acquisition and sales are not explicitly considered within
the banks’ customer service. Therefore, it is not apparent to
the authors that banks engage in a comprehensive analysis of
the customer needs and problems and use such information to
develop adequate and innovative products and services.
Summarizing the interviews, it can be concluded that banks
are still working in a very product-oriented manner and
continue to follow an inside-out-perspective. Customer ori-
entation is only understood to represent satisfaction and
fulfillment of customer requirements that can be directly
observed. A more comprehensive and advanced consider-
ation of the underlying customer processes and the resulting
customer needs (i.e., an outside-in-perspective) is currently
70 - The   journal of financial transformation
not evident. Given the large number of SME clients and the
significant potential of this market segment, banks should
change their perspectives. Instead of following the inside-
out-approach they should identify new business opportuni-
ties along the value chain of their customers [Binder and
Behnstedt (2005)]. In the following section, the authors
present a model which aims to directly match SME processes
with the business processes of banks.
Design of a customer-centric business process
model
The basis for the development of a customer-centric busi-
ness process model is the identification of sub-processes
for a specific customer process. Then each sub-process has
to be analyzed to determine whether products and services
could be conceivably provided in order to support them. In
the next step, the bank has to analyze whether the specific
customer sub-process could be supported by the bank itself or
by a cooperation partner. Finally, detailed product and service
packages, as well as sales and communication channels, have
to be defined. This definition has to refer to both the in-house
products and services and those of the cooperating partners.
Thus, the bank’s business process will be fully based on the
business needs of its SME clients.
Acquisition and sales is probably the most important process
for SME clients. Therefore, the bank has to understand every
step of the acquisition and sales process in order to identify
opportunities for support. In the following section, the design
of a customer-centric business process model for the acqui-
sition and sales process is described. In doing so, it is neces-
sary to note that the acquisition and sales process of the sell-
ing enterprise corresponds to the resourcing process, which
includes procurement, of the buying enterprise. In order to
use synergies during the process modeling procedure, both
processes will be included in our model.
Steps of the acquisition and sales process
As a starting point within this process, an SME uses market
analyses to examine the current and future market situation
How to design customer-centric business processes
in the banking industry
and the surrounding environment in which the enterprise is
acting (sub-process — analyze target market). On the basis
of the attained information potential customers are identi-
fied and acquired (acquire customers). Then, strategies, such
as product strategy and product line policy, are formulated.
In the next sub-process (analyze customer requirements),
individual products have to be developed according to the
customer’s specifications. In addition, the production costs
have to be calculated. The SME also has to provide advice
(give product advice) and make an offer to the customer
(provide offer). In a next process step, the contract has to
be negotiated. At the order’s due date, the products for the
customer have to be prepared for shipment and dispatched
(order processing). Simultaneously, an invoice is issued and
the invoice amount posted to the accounts receivable ledger.
If the customer does not pay on time, the commercial and, if
necessary, legal dunning proceeding starts.
After having identified the sub-processes of the SMEs’ acqui-
sition and sales process, each has to be matched against
possible products and services that the bank might be able to
offer. Within the target market analysis comprehensive mar-
ket data could be offered to the enterprise, such as detailed
information on potential customers and the targeted mar-
ket, as well as market prospects and competition analyses.
Generally, publications, road shows, advertisements, and
sales promotions (i.e., calculation of discounts, design of
payment options, provision of turnover credits, and other
additional services) could be helpful in acquiring custom-
ers. Information about competitors, such as prices, delivery
time, and quality measures, can help the SME to prepare
a competitive offer. Additionally, the SME could develop
financing packages or terms, such as loans and subsidies,
for winning the business. The buyer’s credit rating could be
used to evaluate the solvency of the contract partner. If the
sales negotiations result in a complex contract (i.e., in the
case of selling a plant and/or delivering to certain countries)
legal consultancy will be necessary. Furthermore, fulfilling
guarantees or document transactions in the export business,
such as letters of credit, can be covenanted as contract
assurance. For transportation of goods, logistic companies
like shipping contractors or specialized mail-order firms have
to be involved, making transport insurance desirable. Finally,
support during the suspension of payments or insolvency of
the SMEs’ clients might be necessary as well.
Analogous to the acquisition and sales process of the selling
company, the diverse sub-processes could also be identified
for the resourcing process of the buying company. The iden-
tified sub-processes have to be checked for suitable products
and services in the same way as shown above.
Structure of the business process model
As demonstrated above, the acquisition and sales process, as
well as the resourcing process, can be substantially supported
by value-added products and services offered by banks. Yet, a
bank should not necessarily produce and deliver all aforemen-
tioned ancillary services on its own. In fact, such a product
or service extension might result in the dilution of the core
competencies of a bank, such as provision of financing, and
additional products and services could probably not be offered
at competitive prices. However, products and services which
support the customer processes can be offered by coopera-
tion partners, such as insurance companies, leasing partners,
mortgage banks, market research companies, consultancies,
agencies for business news, patent offices, etc. Cooperations
between a bank as a service integrator and partners as ser-
vices providers appear to be a favorable approach.
The vision of the customer-centric process model depicted in
Figure 2 is based on the generic business architecture model of
Winter (2003). Winter describes how companies, respectively
business units, can cooperate in a value creation network as
service integrators, shared services providers, exclusive ser-
vices providers, and public services providers using a business
collaboration infrastructure. The customer processes provide
the conceptual basis of this model. The bank as a service
integrator holistically supports certain customer processes
and integrates the service components of shared services
providers (i.e., banks specialized in back-office transactions),
71
 How to design customer-centric business processes
in the banking industry

selling companies (acquisition and sales process) buying companies (resourcing process)

analyze target analyze supply market

market
process oriented
business client portal
acquire analyze resource
customers requirement
e-shops buyer 1
analyze customer buyer 2 inquiry
seller
requirement
(1 : n)
buyer 3
give product offer comparison

sub-process “procurement”
buyer 4
advice

virtual market places

provide ordering
offer seller 1 buyer 1

seller 2 (m : n) buyer 2 closing of contract

negotiate procurement
contract seller 3 buyer 3
sub-process ‘order processing’

execute desktop purchasing quality control

order seller 1
systems
seller 2
mailing buyer payment/
seller 3 (m : 1) contractual defects
order
processing seller 4
bring to
account resource storage

accounts
receivable resource protection

customer relationship management cooperating partners

affiliates bank institution market development consultancies

legal/tax advisors
• insurances companies firm infrastructure • market reports
ma

• building companies • currency development market research

rg

personnel management
in

• mortgage banks product management • macroeconomic analyses

chambers of commerce
• leasing companies
ma

technology management
universities
rg

• etc.
in

acquisition distribution order process. service

etc.

Figure 2 – Customer-centric business process model

exclusive services providers (i.e., affiliates of a bank or an while the selling company passes through the acquisition and
association), as well as public services providers (i.e., Web sales process, the buying company passes at the same time
services providers). The integration of these partners can be through the resourcing process. In order to support both
realized via a shared, open collaboration infrastructure (i.e., a processes the bank, as a service integrator, has to provide a
customer portal). collaboration platform, such as a business customer portal.
This platform should not only include information, but also
The starting point of the proposed process model is the SME provide interaction and transaction functions. The involved
client’s acquisition and sales process and the resourcing enterprises must have the opportunity to collect information
process. Both processes are closely aligned with each other: about potential buying and selling companies, to communi-

72 - The   journal of financial transformation

How to design customer-centric business processes
in the banking industry

cate, and to deal with them [Davydov (2001)]. The customer

analyze analyze give
buying cycle, which constitutes the interface between the target
acquire
customers
customer product
provide
offer
negotiate
contract
order
processing
market requiremenet advice
buying and the selling companies, has to be completely
supported by the collaboration platform. Therefore, the
checklist for offer
integration of e-procurement systems (i.e., via Web services definition

providers) within the business customer portal can be very

“price”
helpful. Systems for e-procurement enable the provisioning
market economic
of products, the negotiation of prices, and the conclusion of surveys reports

sales contracts. There are three basic systems that have to e-shop
price definition provider
be distinguished: e-shops (1 seller to n buyers; 1:n relation), reference
prices
desktop purchasing systems (m sellers to 1 buyer; m:1 rela- virtual market
places
tion), and virtual marketplaces (m sellers to n buyers; m:n
“quality”
relation) [Archer and Gebauer (2000)].
possible quality arguments
quality surveys
for the customer
The bank, in its role as a service integrator, provides access
to the e-procurement systems through the business custom- customer external quality payment
bank guarantee
ratings inspector system
er portal. The Web services providers support the sub-pro-
cesses ‘provide offer’ and ‘negotiate contract’ of the selling
access to other links to other, information information
audited, local
companies as well as the sub-processes ‘ordering’ and ‘clos- portal users ’ quality on bank on letter
evaluation inspector guarantees of credits
ing of contract’ of the buying companies. Further support is
provided by the bank’s own services, services of affiliates, or links to
chambers request of
of commerce, personal
other cooperating partners. The integration of all partners is etc. advice

implemented within the business customer portal. offer/

condition
definition description
of quality
Details of the sub-process ‘provide offer’ arguments closing of
contract, etc.
In order to implement the concept of the customer-oriented “payment
conditions”
business process model shown above each sub-process has
legal hints
to be identified in detail. The concept will be demonstrated
checklist for payment conditions
exemplarily via the sub-process ‘provide offer,’ which is link to local tax
and legal advisors
part of the acquisition and sales process of the selling SMEs
information methods of
(Figure 3). Within this sub-process the offer for the product about cash
discount
payment
agreements
recipient has to be specified. bank transfer,
exchange, information
cheque
cash discount
calculator
The selling enterprise gets in contact with the e-procurement letter of request for personal advice
credit
providers (public service) using the business customer portal offer/conditions description
documentary
of the bank (service integrator) in order to present its range credit closing of contract, etc.

of products. At the same time, the seller has to specify con- fixing payment
conditions
ditions such as price, quality, payment, and delivery terms.
During these steps the enterprise will be supported by the
services of the business customer portal. Figure 3 – Activities of the sub-process ‘provide offer’ (partial view)

73
 How to design customer-centric business processes
in the banking industry

Concerning pricing, the selling SME can receive support in
the form of market surveys, industry reports, and reference
prices of other selling enterprises (public services providers).
Information about the variety of different offers in virtual mar-
ket places can be helpful for defining competitive prices. When
selecting an appropriate vendor the most important factor in
addition to the price is often product quality. In this context,
promotional activities aimed at communicating positive cus-
tomer ratings and quality studies, or the use of external qual-
ity inspectors (public service), can be helpful. Moreover, bank
guarantees or specific payment conditions can be arranged to
support a compelling offer (bank as a service integrator).
In most cases the delivery conditions are determined by in-
house information about the fleet and the packaging costs.
That is why fleet and transport insurances are provided (shared
services providers or exclusive services providers). If the com-
pany does not run an in-house fleet, the search for an appro-
priate carrier has to be supported (public service). If the offer
involves exporting activities, the company can find informa-
tion on documents concerning acceptance/payment options.
Furthermore, the selling company is able to propose financing
alternatives to the buying company in order to facilitate the
transaction (service integrator or exclusive services provider).
Regarding financial services, the portal supports the entire
customer buying cycle (CBC). The CBC is comprised of the
following phases: animation (problem and demand analysis),
evaluation (personal advice, transparent offer), acquisition
(easy and fast closing), and after sales (problem solution).

selling companies (acquisition and sales process)

analyze target
market
Citibank Bank of America Wachovia
acquire
customers
• Account management • Overview • Online services
• Information reporting • Online business suite • Online banking
analyze clients’
• Receivables • Account viewing • Online brokerage requirement
• Payables • Transaction reporting • Foreign exchange
• Funds management • Online payments • Demos give product
advice
• Security and accountability • Transfers • Evergreen connect k
• Quicken/Quick books • MerchantConnect.com
provide
• Invoicing • Lending offer
• Self-service • Retirement
• Easy online payroll • HR solutions negotiate
contract
• Tax services • Banking
sub-process ‘order processing’

• Merchant reporting • Insurance

execute
• Discount program • Investing order
• Frequently asked questions • Meeting your needs
mailing
• Resource center
order
• Customer service
processing
bring to
account

accounts
receivable

Today: product-oriented Customer process-oriented

www.citibank.com/us/citibusinessonline/
www.bankofamerica.com/small_business/online_banking_and_services/
www.wachovia.com/small_biz/

Figure 4 - Transformation of banks towards customer-centric enterprises

74 - The   journal of financial transformation

How to design customer-centric business processes
in the banking industry
After putting all parts of the offer together, it is posted as a
proposal in the e-procurement system and sent to the inquir-
ing customer. If both sides are interested, the partners will
proceed to the sub-process ‘negotiate contract.’
Conclusion and a word of caution
In recent years, massive cost reduction programs have been
conducted by the banking industry. But long-term success
cannot be achieved without the development of new busi-
ness ideas, innovative products and services, and intensive
focus on customer retention. To be successful in the seg-
ment of small and medium-sized enterprises banks have to
provide products and services which effectively satisfy the
needs of their SME clients. Problem solving, however, can
only be successful if the critical customer processes have
been identified.
The model described above aims to design a customer-cen-
tric business process model. The model allows a bank to align
its business processes closely with those of its customers
(SMEs). Starting with the SME customers’ processes, the
banks’ own processes can be developed. In collaboration with
cooperating partners, the bank is able to cover and support
the entire customer process and to develop a new spectrum
of services which provide added value to its customers. The
matching of customer and business processes leads to a new
level of cooperation between SME clients and their banks.
Furthermore, this approach helps banks to transition from
product-oriented institutions to process-driven and cus-
tomer-centric organizations.
Nevertheless, the concept bears the risk that clients ques-
tion the bank’s competence in producing and delivering the
offered value-added services. Moreover, insufficient service
quality of cooperating partners may have a negative influ-
ence on the bank’s image. Another critical aspect to be
considered is that a customer only receives information
which is delivered for a particular process step. Therefore,
the customer is very dependent on the information obtained
from the bank. The client’s requirements can only be met if
the bank identifies all possible needs of the customer, antici-
pates all sub-processes and single activities, and integrates
them all into the portal. Unless such a complete integration
occurs, the SME clients will not have the ability to follow their
individual procedures within their own process structures.
On the other hand, a customer-centric business process
model provides a high level of convenience to SMEs through
unlimited access to information, direct access to markets,
and the provision of individualized, custom-made services.
The main advantage of the model lies in the close link
between the customer processes and the organizational
units of the bank through the business customer portal. In
this case the bank’s processes are truly aligned with those of
the SME clients. In addition, the high transparency, reduced
transaction costs, and direct access to needed products and
services contribute to increased customer satisfaction and
customer loyalty. The implications for the bank and the coop-
erating partners are increased revenues and profits (through
cross selling, commission fees, etc.). Certainly, the choice of
acting as a service integrator depends on the strategic posi-
tioning of the respective bank.
Yet, a number of large banks have built corporate client
portals offering financial products and services as well as
financial market information for their clients. When looking
at these banks, we have to state that while these types of
portals already reflect parts of the customer process they
are still strictly product driven. As the examples of large
U.S. banks show (Figure 4), the clients have to know exactly
which product and services they require. The structure of
the portal should be changed from being product-oriented to
becoming customer process-oriented.
There has been ongoing criticism that banks should focus
much more on customer needs and produce more innova-
tive services that create added value for their clients. The
presented process model for banks and their SME clients
offers the methodological basis for developing efficient
support of customer processes and for improving customer
75
 How to design customer-centric business processes
in the banking industry
orientation. The model allows banks to integrate themselves
into the processes of their customers. There are many steps
involved in implementing such a customer-centric process
model. The required products and services of the respec-
tive sub-process, as well as the related prices, need to be
analyzed explicitly within a requirements, acceptance, and
pricing study. Moreover, customer needs have to be analyzed
and the desired process support has to be defined in detail.
Finally, technical requirements and legal restrictions of the
model have to be verified.
76 - The   journal of financial transformation
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