Published on 14-Oct-2013
"With eOps, we’re making a difference in people’s lives by providing earning opportunities through data entry work from anywhere they live." - Jan Verplancke, Group Chief Information Officer, Standard Chartered Bank
Standard Chartered Bank
Enterprise Content Management
Headquartered in London, Standard Chartered Bank is a British multinational banking and financial services company.
Standard Chartered Bank (“the Bank”) sought to improve operating efficiency and customer service while contributing to the greater good of the society.
After deploying IBM Enterprise Content Management (ECM) software to enhance information lifecycle governance companywide, the bank used the solution to build its innovative eOps program, which virtualizes data entry tasks.
The bank saved an estimated USD20 million to date in operating costs with the ECM solution, and the eOps program helps the communities it serves by providing earnings opportunities for rural people and reducing its carbon footprint.
Headquartered in London, Standard Chartered Bank is a British multinational banking and financial services company. It operates a network of approximately 1,700 branches and outlets across more than 70 countries and employs close to 90,000 people. Serving consumer and commercial customers, the bank is a leading institution in some of the world’s fastest growing marketplaces, with roughly 90 percent of its profits coming from Africa, Asia and the Middle East.
Being here for good by being a force for good
The Standard Chartered brand promise “Here for Good” takes an inclusive view of sustainability, recognizing that long-term profitability is not solely dependent on getting the basics of banking right. It also depends on healthy economies in its marketplaces. The bank thrives when the communities it serves thrive. As a result, the bank conducts business, in a way that supports customers and clients, while also having a positive impact on the wider society.
IBM Enterprise Content Management technology helps the bank accomplish this dual-pronged goal. Initially implemented to support ongoing process improvements, the IBM solution became the foundation for Standard Chartered’s innovative eOps initiative. This program helps people in rural towns and villages earn income by contracting with the bank to enter data from their home computers.
Saving USD20 million and cutting process times by more than 80 percent
Since 2008, the bank has dramatically improved operational efficiency and customer service by automating content management and paper-based processes as part of its companywide ECM Governance Program. Today, Standard Chartered standardizes on the IBM Enterprise Content Management solution across approximately 56 countries, helping more than 30,000 staff members save time processing roughly 50 million documents annually.
For example, in Pakistan, Standard Chartered operates at least 130 branches where paper account applications used to be couriered into central operations for processing. Now these applications are immediately scanned or input online into an IBM® FileNet® Content Manager repository. Using IBM Case Foundation, the electronic document images become part of a paperless workflow, significantly improving turnaround time. “Opening a savings account in Pakistan used to take as long as 10 days. Now it’s happening in about 40 minutes,” says Balu Mohan Rao, Senior Vice President and Head of Technology Solutions Delivery for Group Operations and eOps & Development Standards. “It’s a win-win situation for us with greater cost efficiency, service improvement and a robust audit trail.”
Companywide, Standard Chartered executives estimate that the Enterprise Content Management solution reduced operating costs by more than USD20 million to date. More important, it is crucial to the success of the bank’s eOps initiative.
eOps program: redefining work to enhance service and improve lives
With the Enterprise Content Management platform in place, Chief Information Officer (CIO) Jan Verplancke saw an opportunity to further boost operating efficiency while improving people’s lives. Challenging his staff to deliver on the bank’s mandate to be a “force for good,” he envisioned a virtual work environment that offered rural residents a chance to increase their earnings potential. Basically, he asked: “Why does our data entry need to be done in the city? Why can’t it be done in villages and smaller towns we serve?”
In response, Jan’s staff created Standard Chartered’s innovative eOps program by building an application layer on top of the IBM solution that allows data entry from anywhere using a technique called “snippets.” Snippets are secure portions of data created by FileNet Content Manager software and sent through the Case Foundation workflow engine to entry specialists who contract with Standard Chartered for paid work.
For example, when a customer applies for a bank service, the data in fields on the scanned document or eform automatically break apart into snippets. Each snippet goes into the Internet cloud. When contracted entry specialists in a village log into the eOps program, they receive one snippet at a time to enter into the system.
To protect confidential customer records, specialists don’t see complete information for a form. A specialist in one village may be entering a last name while another specialist in a different village is entering a street address. To further protect bank customers against fraud or identity theft, the solution splits such critical data as Social Security numbers into multiple snippets and distributes it to different people for entry.
Specialists are paid based on the number of characters they enter correctly. The eOps system builds in functionality called “blinded and checked” to help ensure quality. Based on defined business rules, this functionality instructs the system to automatically send the same snippets to two people and compare the results for accuracy, alerting the appropriate people when there are deviations.
“Our eOps system makes content smarter, so data entry can be simpler,” says Balu Mohan Rao. “We’re able to lower our costs and help rural people make money, working from home.”
For villagers who can’t afford to purchase computers, Standard Chartered offers another option. It contracts with a partner that has already set up a facility housing Internet-connected desktops in a remote village in south India. People can come in and work there from 10:00 a.m. - 6:00 p.m. on most days.
Improving the environment
With the eOps program deployment, Standard Chartered no longer needs to conduct data entry in a traditional office. The bank can reduce its physical and carbon footprint, saving money on office space and the associated energy and infrastructure cost. And because the eOps system sends snippets of data rather than entire documents, the bank uses less bandwidth.
At the societal level, when people in rural areas can work from where they live, they don’t spend time or use gasoline commuting to cities. Fewer automobiles on city streets helps improve traffic flow and air quality.
Creating new revenue opportunities
Standard Chartered has already won technological and social awards for its eOps system in England, Singapore and India. As a new way to organize work, the program has the potential to benefit organizations across industries. Two aspects of the eOps system make it particularly marketable as a service to a range of businesses. It can support different skill sets with flexible payment options. It also offers multilanguage capability to simplify work distribution to people in many countries. The system automatically presents snippets to data entry specialists in their own language.
For more information
To learn more about Standard Charter Bank and its eOps program, please visit the following website: www.standardchartered.com/en/about-us/our-brand-and-values/here-for-good/creating-employment.html
Additionally, IBM Global Financing can help you acquire the software capabilities that your business needs in the most cost-effective and strategic way possible. We'll partner with credit-qualified clients to customize a financing solution to suit your business and development goals, enable effective cash management, and improve your total cost of ownership. Fund your critical IT investment and propel your business forward with IBM Global Financing. For more information, visit: ibm.com/financing
Products and services used
© Copyright IBM Corporation 2013 IBM Corporation Software Group Route 100 Somers, NY 10589 Produced in the United States of America September 2013 IBM, the IBM logo, ibm.com, and FileNet are trademarks of International Business Machines Corp., registered in many jurisdictions worldwide. Other product and service names might be trademarks of IBM or other companies. A current list of IBM trademarks is available on the web at “Copyright and trademark information” at ibm.com/legal/copytrade.shtml This document is current as of the initial date of publication and may be changed by IBM at any time. Not all offerings are available in every country in which IBM operates. The client examples cited are presented for illustrative purposes only. Actual performance results may vary depending on specific configurations and operating conditions. THE INFORMATION IN THIS DOCUMENT IS PROVIDED “AS IS” WITHOUT ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND ANY WARRANTY OR CONDITION OF NON-INFRINGEMENT. IBM products are warranted according to the terms and conditions of the agreements under which they are provided.