Reengineering of Card Emission Processes for Corporate and Individual Clients in the Russian Bank

Over the last couple of years the Russian economy is going through difficult times due to the events happening in the world. Thus, in order to adjust to the changing conditions and to keep the business running, it is necessary for companies to drastically cut costs and to look for new ways to run the business. One of the classical approaches to enhance business performance is business process reengineering (RBP). BPR has been firstly introduced in 1990 by Michael Hammer in USA. It was a success and many companies had adopted it. Since then many research work has been done by different authors all over the world. Nevertheless, there are not so many papers devoted to the reengineering work of business processes in the Russian banking field. The main goal of this study is to enhance business performance of Card Issuing Processes to corporate and individual clients in the modern Russian bank by means of business process reengineering. To achieve this goal following objectives are defined: 1) To perform a literature review on best practices of Business Process Reengineering 2) To investigate practical examples of similar projects from modern banking industry 3) To analyze the current Card Issuing Processes to individual and corporate clients of the target bank 4) To build target business process models Within the boundaries of this research a literature review on Business Process Reengineering in a modern banking industry was done and practical examples of similar projects were provided. To carry out the reengineering in the target Bank, the current state of its business processes was analyzed and the BP transformations insights were given. The results are provided as “to be” process models and could be used by top and middle management of other banks for fostering BPR of card issuing, and, thus, the present work is of a practical importance to the field.