Situation

Service complaints from new business customers triggered a multi-pronged initiative by the EVP of Wholesale Banking to improve Service Level Agreement (SLAs) performance across all product lines. Lockbox Operations was commissioned to launch an SLA improvement project and report on results within 90 days.

Team Engagement Strategy

Eight employees representing all three Lockbox Operations Centers were assembled for a one-day launch meeting (with subsequent action meetings conducted by conference call) supported with Rapid Action, a team engagement toolkit for accelerating results.

Rapid Action Project Charter

How can we simplify and standardize the onboarding process for new lockbox service customers in order to meet service level agreements (SLAs) for set-up time and quality?

Sample of Solutions Implemented

1. Created a Lockbox Services Set-Up Guide providing standard step-by-step instructions for all locations.
2. Reviewed and clarified roles and responsibilities of Lockbox Operations team members as well as other business partners involved in lockbox onboarding.
3. Developed, tested, and installed a New Lockbox Customer Set-Up Checklist to prevent common set-up errors.
4. Collaborated with the Wholesale Business Sales Team to develop a “Lockbox Quick Tips” reference guide to set accurate expectations with new customers when selling lockbox services.