Polaris offers Consulting services for Business Process Mapping and Wiring that helps banks identify and streamline critical business processes. The outcome can also be used by Banks to identify possible processes for automation and outsourcing (BPO) or for process innovation by designing new work flows.
Polaris uses proprietary L0 (Level 0) Banking Process Maps to identify process bottlenecks and recommend alternatives. These maps enable process streamlining / re-engineering through the following:
- Facilitates process-based gap analysis and requirement gathering for IT/BPO projects
- Serves to train business users to standardize business process across geos / functions
- Gain insights into functional test cases, processes and sub-processes to build new business scenarios
Case Study: Global Standardization of Consumer Banking Business Processes
Polaris vast domain experience has enabled it to conceptualize the breadth and depth of complex application landscapes in an easy-to-understand, functional block model. An example of one such study for an international financial conglomerate with operations in more than 100 countries across consumer/corporate/investment banking and insurance businesses is provided below:
- Process Conceptualization: Polaris conceptualized and created a functional model wiring the various levels namely, L0(high level), L1(next level of decomposition), etc. Each level would then drill down to the subsequent level to show the list of process and sub-process of each module in the customer’s landscape shelving the entire gamut of Consumer Banking.
- Business Scenario Building: Use cases were developed for each module with each business scenario containing a subset of processes and sub-processes as relevant to that scenario. Links to the corresponding application and annotations were provided to enable traceability to the applications in question.
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