CASE STUDY
One of Myanmar’s largest privatelyowned
banks, Yoma Bank offers a
wide range of retail and corporate
banking services. The bank employs more
than 2,000 people and operates more than
50 branches across the country.
The challenge
The banking market in Myanmar is poised
for huge development, with just 3% of the
51 million population currently holding
a bank account. Yoma Bank wanted to
take advantage of the growth potential
of this emerging market by reaching out
to customers with convenient, easy-to-use
banking services.
The solution
Traditionally, retail banks have run
operations from an internal IT perspective,
forcing consumers to adapt to convoluted
processes and systems. Yoma Bank is
challenging this approach by embarking on
a vigorous restructuring program designed
to transform the customer experience.
The bank has selected Fusion Essence
as the strategic enabler for an ‘outsidein’
transformation of its core banking
operations. The bank will restructure its
processes, systems and channels completely
around the end-customer, modernizing its
existing branch network and launching nextgeneration
digital banking services.
MANY PEOPLE STILL LIVE IN SMALL
VILLAGES, WHICH ARE OFTEN MILES
AWAY FROM THE NEAREST BANK, SO
COMING INTO A PHYSICAL BRANCH IS
NOT ALWAYS FEASIBLE.
The result
By streamlining operations and introducing
greater automation, Yoma Bank will be able
to manage higher volumes of business more
efficiently, ensuring a faster response to a
growing customer base and freeing staff
to focus on delivering a unique customer
experience. New digital channels will make it
easier for customers to bank when and where
they want, ultimately helping Yoma Bank to
grow its customer base and market share.
Growth potential
The financial services sector in Myanmar is
on the cusp of major expansion with huge
opportunities for growth.
Hal Bosher, Advisor to the Board at Yoma
Bank, elaborates: “Banking in Myanmar is
still in its early stages, and while the market
offers enormous potential for growth, it is
not without its challenges.
“Traditionally, the banking sector has
been very process-driven, and has not taken
the customer into account. For instance,
banks are required by law to operate
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