ISO 9001 process planning with specific reference to the banking sector is what
we're talking about in this video. We're specifically talking about clause 8 and
specifically 8.1 of ISO 9001 how that process flows in the service and
transaction part of a bank and the banking sector stay tuned.
So we've had a question come through to us here at ask Best Practice from one of our colleagues
that's following both me on LinkedIn and also our company page on LinkedIn so if
you haven't found us yet on LinkedIn go check it out look for Best Practice
Certification that's all this stuff on our linkedin company page and also look
for me my name's @kobisimmat on linkedin I will put the handle in the
description below if you've got any comments if you've got any questions if
you want a video like this one then give us a shout out ask the question and
we'll cover it for you. So we've struggled a little bit with this
particular one to understand the angle that the question is coming from so
we're just going to talk about it from our perspective Jack's here behind the
camera we've been having a chat about it's obviously about the banking sector
and banking as a customer so I'll talk about my experience with the bank
is I'm both a commercial customer and also a private. Now I've got subtly
different needs in both of those spaces it just so happens that majority of our
commercial banking here in this particular business is with the same
Bank as I am a private customer that just makes my life a little bit easier
but we do use a number of different banks to do what we do here at Best
Practice and also I've got a few private banks that I use, but let's just talk
about it from that perspective and actually there's a bunch of people
following me on LinkedIn so and I know there's a bunch of you that comment on
this stuff and you do work for a bank so this will be relevant for you guys as
well and you know who you are. So with regards to that there's a few things
here obviously one of my biggest issues one of my biggest risks from my
perspective is well it's my money it's my hard-earned cash and that's me as a
private customer, over here in a commercial sense probably not
worried in terms of you know this is my my whole livelihood over here and I
would feel incredibly violated if you guys lost my money, I'm giving it to you
for safekeeping but over here in a commercial sense I'm not giving you
money for safekeeping I'm using you as a mechanism to transact with my both my
staff in terms of you know their salaries and wages our contractors our
suppliers and also the customers, so from a commercial customer's perspective as
it relates to a bank we've got things like payments coming in and we've got
obviously payments going out, now what's critical for me is that is a lot of work
and so as we move we'll move over the process flow in a minute but I need this
stuff to happen really really quickly and ideally instantly so my staff they
want to be paid instantly my suppliers they want to be paid instantly so when
we've done all the processing in our office and we upload the spreadsheet to
our banking portal we want that stuff to happen straightaway and the facility
that we're provided by our bank that all happens instantaneously so when we put a
credit to one of our suppliers we can call our suppliers they can check their
bank and in most 80% of the situations and we were talking to our suppliers
that stuff's there straight away. Now importantly when we do that, the dollar
event amount here it's very important that it's the same as the dollar amount
over here so we don't want you guys clipping the ticket on the way through
so we pay you bank fees to make sure that you're not you're not clipping the
ticket on the payments. Now we are talking about a bank were not talking
about a credit card, if that transaction was to be done with a credit card
obviously the credit card company takes a commission on the money that they're
moving on your behalf backwards and forwards, so we are talking about a bank.
So a couple of key things one is obviously risk wise or swap wise
security. Now both in the physical sense of the numbers that are on our internet
banking portal but also internally in terms of data and accessibility and that
sort of stuff so you guys have got some pretty big IT information security
issues there and also the security of the physical you know currency that sits
behind the accounts that sit within there. Speed is very important in the
commercial sense accuracy over here
very very important our speed maybe not so much for the
private customer but security would be absolutely because it these people here
are storing their hard-earned cash the commercial customers using it for
transacting if that makes sense so we don't use the bank as the method to
store our profits if you like and that's done in other high yielding
places and investments but they customer for example you know that's going to
be yet to a certain you said they do use it to operate but I know lots and lots
of private customers that all their money's in the bank and they don't have
investments. So security speed and simplicity, so I'm just going to focus on
those things with regards to operational planning, security, speed and simplicity.
If you as the banker making the life of these parties complicated you won't have
them as customers very long now that might make your life more complicated
internally but if you can make it simple and fast and accurate that's the
majority of what these people are looking for and certainly I'm giving you
my advice as a customer. So let's go over here and have a look at a generic
process so we obviously got the bank we've got some stuff happening in terms of
internal processes it's pretty generic but we've got obviously from a
customer's perspective we've got online files in terms of online information,
we've got a component interface with all the different systems that the banks
have, so you might have a little bit of manual process happening there's
certainly a lot less manual processes now than they used to be and so we've
got all these different component systems that are all part of this
service delivery, you know how the different systems bolt up to each other
particularly if you guys are doing other things so in terms of the transaction
time, we all know that some of you guys float money on the short term currency
markets so you might take a day or two longer than usual to do the transaction
it's pretty common knowledge that a lot of that money is moved around and that's
how the the banks in transacting you've said well actually we can sort of float
we can have this money floating for a period of time between
you know for example if I'm a commercial customer paying one of my staff there's
something happening in here and everyone saying why is it taking two days and
it's because you guys are using that money while you've got it in your hand
to make more money, so your industry is about to be significantly disrupted by
cryptocurrency because the intention of cryptocurrency is people are unhappy
with what's happening here and they want the money to move between themselves so
eventually if we want to call this Bitcoin and Jack and I were just talking
about Bitcoin that will replace you over there because these two parties can
transact with a digital currency between each other and they won't need you so if
you guys really want to disrupt this particular industry get on board with
stopping this and making this stuff happen really quickly, okay, generically
we're doing file uploads then we're loading that in to say for example a
bank table, we're doing reconciliation to make sure any information from bank A
matches bank B and matches us, as funds are moving backwards and forwards
between the banks, because this could be Bank A over here and this could be Bank
B over here, if that makes sense, and this is you guys in the middle so we got this
reconciliation process and then we've obviously got the transaction matching.
Now all that for me now as a customer is all sitting on my portal if you like. All
displaying on my portal, now there's obviously some manual stuff that used to
happen and in some cases it does obviously happen is we're obviously
managing statements or a journal and then we got manual transactional
inputs. So I send my son off to school once a week with his little bank book
and it's handwritten information or a little printed slip that goes into his
bank book because he's banking his dollar each week of his pocket money and
so he's got the manual transaction process happening now I'm sure there's a
component interface with it sits behind that that manages it but it's still for
him a bank book and a manual transaction, still goes part of the file upload still
the movement and in that instance it's cash that ends up being deposited and
retained and then shown on his little portal. So I want you guys to be thinking
about resource planning and it's exactly the same as all the
other videos we've done recently on process mapping it's my five W's and an
H. Let's just quickly talk in this scenario about the why with all of this
why is this stuff it's right here it's security, speed and simplicity and
importantly we want to understand what can happen emotionally with these
parties and there's one emotion that we want to be very careful with and that's
that's the concept of making these people in this process feel violated
absolutely violated. Money is a very sensitive topic it's very it's a very
emotional topic and we want to avoid making them feel violated so when you
look at this process and you start to do something like a SWOT analysis and
that's very very important SWOT, strengths, weaknesses, opportunities and
threats, I'd like to see you start with, does anything that we do at any of these
steps and your process could be different to this but at any of the
steps any of your steps internally in your organisation do they have the
potential to make these stakeholders feel violated and that's a good place to
start in your weaknesses and your threats part of your SWOT analysis and
obviously there's other things that you can do what would make them feel love,
joy and surprise, now obviously surprise if they've got more money than they
thought they had because you made a mistake and you gave you deposited with
your reconciliation wrong money to wrong the account of course they're going to
feel surprised, so we do talk a lot about with SWOT analysis, we talk about
violation and you can also have a bit of fun with this that's part of this whole
process right don't take it too seriously because you want to do it
regularly, you want to do this SWOT analysis, risk assessment, process
analysis, maybe on a quarterly basis. We have a joke here Best Practice we call
it love, joy, surprise, love, joy and surprise so what we're talking about
here is, we want to try and avoid people feeling violated they are our
customers and our stakeholders but we want to elicit particularly love and joy
and if you can do security, speed and simplicity in this instance you'll
elicit definitely love and joy because people will compare you against
the other people and and it's a pretty flooded sector, you're going to get those
opportunities. So back to all our other YouTube videos we we've got the WHY, now
we've got our five W's and an H, so it's what, when, where, who and how it's
our five W's and an H. What needs to happen, where does it need to happen, when
does it need to happen, who needs to do it, how are they going to do it to ensure
that we're not making people feel violated, we're helping people feel love,
joy and surprise as part of this process and that becomes your plan. So have a
practice with it, keep it simple, keep it really basic, that becomes your
operational plan, why, to create these objectives these promises that we made
what are the promises you made to customers, you know is it commitment
consistency, security, speed, simplicity those sorts of things but you want to
think about this, so that's the checklist, that's the process flow, your process
might be different, that was just a generic one we thought we'd talk through,
you want to think about your stakeholders in this instance this is
very customer focused from a commercial customer perspective, private customers
perspective and might be some other stakeholders
there's obviously these other stakeholders here, there's the other
banks, so we got Bank A as a stakeholder Bank B, you know the other banks that
you're dealing with as you do your transactions, they, you know they're
interested in speed, simplicity, maybe accuracy, you know if you guys are always
waiting for you to do stuff then they're not going to want to do business with
you and it's going to make life very difficult for everybody. So that's been
our process flow analysis, operational planning. It does include some of the
risk based thinking parts of the banking sector and ISO 9001, if you want to see
me more videos like this and we'll have a crack at your industry, it's what we do
here at Best Practice, reach out to us comment below the video. If you like this,
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