Are financial institutions truly benefiting from business process redesign (BPR)? This study investigates recent BPR projects within banks, insurance companies, and brokerages across North America and internationally, examining improvements in customer service, cycle time, headcount, and cost measures. It explores the organizational, technological, and environmental factors that influence the success or failure of BPR projects, offering insights into achieving corporate transformation. Executive interviews and a mail survey reveal the importance of strategic planning, project organization, team structure, new technology, and benchmarking in BPR initiatives. The findings indicate that different success factors are associated with different types of BPR projects. Although BPR's outcomes are often less dramatic than advertised, well-conceived and managed projects can significantly contribute to a firm's transformation. In conclusion, this research provides valuable perspectives on how financial institutions can effectively leverage BPR to enhance their operations and adapt to accelerating change. It emphasizes the need for careful planning and management to realize the full potential of BPR in driving corporate transformation.
This paper, published in the _International Journal of Bank Marketing_, aligns with the journal's focus on business and economic theory within the banking sector. It explores how financial institutions use BPR to improve customer service, contributing to the journal's discussion on marketing strategies in the banking industry. By examining success factors, the paper enhances the journal's insights into the practical applications of BPR in banking.