Rachel Teo

Case study

Transactional FX Service Blueprinting

What if you could see employees’ whole Transaction FX journey and pinpoint exactly where it breaks?

A detailed service blueprint of the end-to-end cash FX journey in Singapore.

The challenge

Transaction FX (TFX) products involve multiple different teams and platforms—both digital and offline. Employees involved in the product journey were experiencing gaps and inefficiencies, but the bank as yet did not have a holistic view of what this journey looked like today.

We were hence engaged to conduct research to be able to map out this journey, and to identify what these issues were, in order to improve the employee experience and drive productivity.

ClientDBS
Year2022
RoleService designer
  • Service design
  • Qualitative research
  • Workshop facilitation

The process

  1. Discover

    • Material review
    • Draft end-to-end journey map
    • User personas

  2. Define

    • Validation workshops
    • Prioritisation workshops
    • Service blueprinting

  3. Deliver

    • Service blueprint
    • Pain point prioritisation

1 · Discover

I began by reviewing the materials provided by the client, from which I drafted a baseline end-to-end journey map, as well as 7 user personas representing the different teams that were involved in the transactional FX process.

The first draft of the baseline journey map, showing customer engagement and initiation stages with stakeholders, platforms and pain points.
User persona card for an IBG relationship manager, with jobs to be done, goals, challenges and working considerations.
User persona card for a T&O Bizcare client service manager.
User persona card for an IBG pre-processing manager.

2 · Define

We ran virtual workshops with the 7 different teams, in order to validate and refine the baseline journey map, and to identify where exactly the pain points arose for them.

This led directly to the creation of the holistic service blueprint, that enabled a detailed view of the steps involved in the TFX journey, which teams and platforms were involved, and where the pain points were experienced.

After synthesising all these insights, we brought the different teams together to run a prioritisation workshop, which we felt was important for a clear and consistent understanding of the key issues experienced across the teams.

A virtual validation workshop on Microsoft Teams, with the journey map shared on a Miro board.
The pre-processing stage of the service blueprint, mapping each step and hand-off between teams.

Some key pain points

01

Different teams’ systems do not talk to each other

Manual and separate setup on pricing systems leads to double effort and longer time to market.

02

Manual tracking and follow-up required on missing settlement instructions (SI)

Contracts can be booked by customer even if the SI is blank, leading to manual toil for staff.

03

Settlements are approved despite lack of client account balance

Due to lack of visibility across teams. Dealers hence have to check in with RMs each time.

The upshot

It was very gratifying that two months after our engagement for the project had ended, the client’s in-house design team came back to us to ask if we could take them through our project process and service blueprint, as they felt it could be useful for some enhancements they were working on.