Product-based design of business processes applied within the financial services
Business Process Reengineering (BPR) is an important instrument to boost the performance of business processes. In this paper, the Product-Based Design method is presented that supports BPR. It is especially suitable to reengineer processes that support information-intensive products such as bonds, mortgages, and loans. Inspired by manufacturing principles, the structure of an information-intensive product is decomposed into a structure of informational elements which are used to derive the lay-out of an improved process design. Using this formal approach, many problems encountered with prevailing BPR practice are circumvented. This paper includes a description of the application, of this method to credit processing within the ING Bank Nederland, a large Dutch bank. In this particular case, substantial savings in cost and flow time are achieved.
business process reengineering process design case study financial sector