ASSIGNMENT – ORGANIZATIONAL

TRANSFORMATION MODEL
Section- H2
Astha Koirala (20131)
Mehak Bhatia (20030)
Nehal Sharma (20033)
Saurabh Dhingra (20049)

MODEL OF THE CHANGE PROCESS

LEWIN’S CHANGE MANAGEMENT MODEL

The basic model was developed by Kurt Lewin. Lewin’s model
consisted of three steps: unfreezing, moving and refreezing.
Lewin’s Change Management Model is one of the most
popular accepted, and effective change management models.
It helps companies better understand organizational and
structured change. This model consists of three main stages
which are: unfreeze, change and refreeze.
Unfreeze: This is the preparation stage where employers
must get prepared for change. The crucial step here is to
enhance open employee communication explaining why
change is necessary. The goal is to overcome employees’
resistance to change as much as possible.
Change: This is the stage in which change gets implemented.
Continuing on the first stage, good leadership and effective
employee communications are crucial here.
Refreeze: This is the stage in which change is accepted and
employees go back to their routine. This stage should be
considered as almost ever-going. Leaders should make sure
that changes are adopted and used even after the change
management objectives have been achieved

Change is an unavoidable, yet difficult, aspect of a growing

business. Business organizations today are facing change on a
regular basis. Technologies keep on changing & organisations
as a whole change to modernize and readjust their outlook
and work functions. Surprisingly, their general objectives also
respond to the outer market drivers and disruptors. With
their employers’ facings such progress, organizations
standardize the approach guarantying all types of transitions
remain as smooth as possible. This is where change
management comes into play.
Change Management Learning Centre defines change
management as “the process, tools, and techniques to
manage the people-side of business change to achieve the
required business outcome, and to realize that business
change effectively within the social infrastructure of the
workplace.”
Change management models are designed to act as
compasses that assist you with exploring troublesome
advances and guide you and your group towards more than
acknowledgment – to embrace new cycles and amplifying ROI
for business process changes.
STATE BANK OF INDIA (SBI)

Formerly Imperial Bank of India

Type Public Sector Undertaking

Industry Banking, financial services

Founded 1 July 1955

State Bank of India

Headquarters State Bank Bhawan, M.C. Road, Nariman

Point, Mumbai, Maharashtra, India

Area served Worldwide

Key people Dinesh Kumar Khara
(Chairman)

Revenue ₹385,338 crore (US$51 billion) (2021)

The top management led by Shri O P Bhatt, Director of SBI,
perceived the requirement for a change. They wanted to get
the grassroot level of the employees and build more open
and collaborative culture in the workplace. Therefore, the
management distinguished regions that should have been
changed also conveyed the new change plan to all the staff in
the association. SBI launched a massive internal initiative
called “Parivartan” (which means transformation/change)
aiming to obtain support and acceptance of employees for a
change in attitude to develop a more customer-centric
approach and appreciate the importance of HR in an
organizational transformation initiative. This program
resulted to employees not asking for overtime to stay late,
and helping customers in best possible way instead of
avoiding or delaying them, said Shri O P Bhatt.

After the successful implementation of the project

Parivartan, SBI launched another program “Citizen SBI”- an
extension of Parivartan. It focused at attitudinal change and
transformation of its employees through a series of human
resources activities. This project had four stages: citizen
orientation, customer fulfilment, market engagement and a
vision programme (for senior management).

SBI then launched another HR initiative named "Udaan". This

project aimed at imparting the employees about the
achievements of the bank over the last 4 years and grooming
them for their total transformation towards achieving the
bank's aspirations to be amongst top 25 banks globally. It
highlighted the importance and need for the new mass
communication initiative from all scales of the employees.
SBI with this project regained its footing and flourished the
loan portfolio to all customer segments. It was able to
capture the market and lead itself in corporate loans,
agricultural loans, home loans and auto loans. It succeeded
to be the top institute in Government Banking.

After getting the necessary buy-in, the transformation

process began to gush along with the IT sector as it’ll. The
changes, replacements and development connected the
branches to central network of the bank to drive maximum
value. Turnaround times dropped drastically, account
opening times dropped from about 50 minutes to less than
10 minutes. The number of SBI branches grew by over 50
percent & ATMs grew almost four-fold, in 2010. Honors and
recognition shoitred on SBI and Bhatt from both Indian and
international organisations. The dramatic revival of the State
Bank of India in the last four years is one of the unsung
success stories of contemporary Indian business

The SBI transformation story is essentially one of balancing

top-down change with buy-in at loitr levels, the latter
engendered through effective communication. The
transformation altered mindsets more than bottom-lines.
Inspired by Eastern philosophy rather than its stern
management thought, it succeeded by appealing to their
higher passions instead, that draw satisfaction from fulfilling
one’s dharma rather than focusing on material italth, from
creating rather than consuming. In a sense, SBI’s
transformation exercise has been as much a spiritual journey
as it has been a successful business turnaround.
AXIS BANK

You can do most of your banking transactions without going

to a branch or ATM, sitting in the comfort of your home. Take
a look at the various options Axis Bank offers for banking
digitally. Use them to stay safe and keep your money secure.
➢ Internet Banking
Axis Bank provides easy steps
to start online banking.
Assistance is available 24/7
for customers. Hassel- free
internet banking options
makes banking with Axis
Bank the best. Axis Bank ensures hassle free internet
banking registrations in just a few easy steps. Online
banking is secure with the added two-step authentication
system of Netsecure. From savings to investment and
from fund transfers to bill payment you can do all this and
more using Internet Banking via your Axis Bank account.
You can view your account balance, download
statements, transfer funds, open fixed deposit, pay bills,
 recharge, update address, PAN, request a cheque book,
start a SIP, and more Mobile Banking. Axis Mobile is a safe
and secure mobile banking application from Axis Bank,
with 100+ features and services satisfying more than just
banking needs. It is a convenient way to access account,
transfer funds, pay bills, link other bank accounts using
UPI and more such exciting features on the go
• The Axis Mobile app is available for both Apple and
Android users
• Set an MPIN using your registered mobile number
• Access your account, transfer funds, pay bills, link other
bank accounts using UPI, view offers, invest in mutual
funds and much more
➢ Bhim Axis Pay UPI App
Unified Payments Interface (UPI)
is a platform provided by the
National Payments Corporation
of India (NPCI) to facilitate inter-
operability amongst various
banks. It’s a one-stop solution for
multiple bank accounts. It allows all account holders to
send and receive money using their smartphones a single
identifier – virtual payments address (VPA) commonly
known as UPI ID – without entering any bank account
information. Therefore, customers do not need to know
the payee's or payer’s IFS code, bank account details, etc.
and this makes the process simpler. So, customers can
make faster payments to their peers and merchants. Use
 the app to transact without the payee’s or payer’s IFSC
code, bank account details, etc.
Download the Axis Pay UPI app on your mobile, select
your bank and bank account, create a virtual payment
address, link it to your bank account and transact

The bank offers UPI services for customers (peer–to peer and
peer-to-merchant payments) through various platforms,
including:
• BHIM Axis Pay
• Axis Mobile
• Freecharge
Apart from the above the Bank has also partnered with
the following TPAPs (Third Party App Providers) to offer
UPI services on their platform:
• Amazon Pay
• Bajaj Finserv Direct Ltd
• CRED
• Google Pay
• Samsung Pay
• PhonePe
• Whatsapp
 How to use Axis Pay
App
1. Download the Axis
Pay UPI App from
Google Play Store
or Apple Store.
2. Select your Bank
and Bank account.
3. Create a Virtual
Payment Address
(VPA)/ UPI ID
(example –
name@axisbank).
4. Link your Bank account to UPI ID.
5. Send & receive secure payments instantly
6. Recharge your prepaid mobile & DTH through Axis
Pay
➢ Axis OK
• Using the Axis OK
mobile app, you can do
banking on any
android device without
internet service and
without prerequisite
registration
• Check account balance, request a statement, know
outstanding credit card balance, block credit/debit
card, recharge mobile, DTH and data card
➢ Axis AHA
• Axis AHA is a virtual
banking assistant that
can be accessed via the
Axis Mobile app or Axis
Bank its site
• Use it to transfer funds,
pay bills, recharge your mobile/DTH, change your
debit/credit PIN, order cheque book, and ask
information about branches, products or IFSC codes
 ICICI BANK
The strategic focus of the Bank during fiscal 2020 was to
continue to grow its core operating profits in a risk-calibrated
and granular manner. This was driven by the objective of
‘One Bank, One ROE’, that enabled synergies across
businesses. Further, the principle of 'Fair to Customer, Fair to
Bank' emphasising the need to deliver fair value to customers
while creating value for shareholders, guides the Bank’s
operations. The underlying pillars of leveraging digital, a
customer-centric and service-oriented approach,
simplification of processes and enhancing customer
experience itre factors that itre common across all
businesses.

Efforts aimed at delivering maximum value to customers itre

further strengthened during the year. A strategic focus in this
regard was to extensively leverage data analytics and market
intelligence to create strategies and unique value
propositions across market segments. It also facilitated
better targeting, resourcing, channel and product alignment,
capability building and marketing and alliances. The Bank
enhanced its focus on exploring customer ecosystems that
offered the opportunity to provide a wide range of products
and services.

The drive to provide digital products and instant financial

solutions to customers led to some unique product launches
during the year that connected businesses. ICICIStack was a
comprehensive digital offering launched by the Bank towards
the end of fiscal 2020 that enables retail customers, retailers,
professionals, fintechs, startups, e-commerce players and
corporates to continue banking digitally, even from remote
locations, without visiting a branch or office of the Bank.
Following the outbreak of the Covid-19 pandemic, ICICIStack
ensured continuity of banking services on the digital platform
even during lockdown. The Bank’s application programming
interface (API) banking itbsite allows business customers to
seamlessly integrate with various payment and product

RECENT DIGITAL TRANSFORMATION

Video KYC

• To on board salary account, personal loan and

Amazon Pay Credit Card customers
• Whole process is digital via a video call, frictionless,
fast and zero physical contact
 iPal chatbot integrated withAlexa/Google
Home

• Integrated the AI poitred multi-channel chatbot, iPal,

with Alexa/Google Home to allow customers to fulfill
banking services with a voice command

WhatsApp Banking
PLATFORMS OFFERING SEAMLESS SERVICES
InStaBIZ

MODES

TRANSACTIONS
API BANKING PORTAL
Enabling partners to integrate various payment and product
solutions in few days; APIs available across an array of
categories including payments & collections
ACHIEVMENT IN DIGITAL PAYMENT SOLUTION

ICICI Bank was the first bank to launch and implement an

inter-operable Electronic Toll Collection (ETC) platform
on national highways
Pioneer in FASTag3 program by on boarding state highways
Market leader with share of 38% by value in July 2020
Market share of 28% in UPI P2M2 transactions in June 2020;
ranked 2nd in the industry

HDFC BANK LTD.

Setting out with the
objective of
understanding how
HDFC Bank Ltd is
responding to the
wave of changes in
technology and
competitive
environment as itll as the non-performing assets situation as
itll as end of the tenure of its promoter Aditya Puri who was
spearheading its journey. The author has examined various
actions taken by bank’s change leaders for managing the
change. The author has concluded that it is the villages may
help HDFC Bank boost margins. The bank has leap of faith by
being invested in technology, people, market and products.
Bank endeavours to give a convenient financial experience
with mobile, safe shopping, loans, credit debit card cards etc.
to the customers with third party partnerships (fintech’s),
trading services for purchase and sale of stock etc. All the
products of the banks are now available in semi-urban and
rural India. Bank is planning to take digital offering to 100,00
villages over the next one year.
ORGANISATIONAL TRANSFORMATION
The country’s largest private sector lender HDFC Bank
unveiled organizational changes under ‘Project Future –
Ready’ for its next wave of growth.
“The bank is reorganizing itself into three clear areas of
Business Verticals, Delivery Channels and Technology/ Digital
to further build its execution muscle and be ready for the
future,” it said in a statement, adding that the creation of
focused business verticals and delivery channels will enable it
to capitalize on the opportunities across customer segments
in the time to come.
HDFC Bank will re-double its efforts on its business verticals
that include corporate banking, retail banking, private
banking, government and institutional banking, retail assets
and payments as itll as commercial banking or the MSME
vertical.
Admitting that COVID-19 will perhaps change the life forever,
HDFC Bank Managing Director Aditya Puri assured
stakeholders that the private sector lender is very we will
placed to tide over the difficulties posed by the pandemic. "
The COVID-19 pandemic and the subsequent lockdown to
curb its spread has created unprecedented challenges for the
economy and also the financial sector. Puri assured the
stakeholders that the bank is "very itll placed to ride out the
COVID-19 storm.
TECHNOLOGY TRANSFORMATION

It has invested heavily in the scale-up of our infrastructure to

handle any potential load for the next 3-5 years. It is also in
the process of accelerating our cloud strategy to be on the
cutting-edge leveraging best-in-class cloud service providers.
Along with that, the lender has strengthened monitoring of
its data centre (DC) and has also shifted key applications to a
new data centre. Further, the disaster recovery trials and
process have been strengthened so that even if there is an
outage the downtime can be minimised as much as possible.
Although the bank has not had any security issues in the past,
hoitver, it has focused on strengthening its firewalls so that it
is prepared for any potential security threats. Furthermore,
the bank has put in place an enhanced monitoring
mechanism across the board to keep its IT systems always
“ON”.
“While it executes this technology transformation agenda,
there will sometimes be pain and outages beyond our
control. But this is the bitter pill it needs to swallow”, they
are putting in place measures that will ensure that
downtimes will not be prolonged. Yes, it will take some time
but it will get around this. And live up to the standards that
people have come to expect from us”, he added.
On the business side, the bank has identified growth engines
-- corporate banking, commercial banking, rural, government
and institutional banking, private banking, retail assets, and
payments -- that will constitute the bulk of investments that
it is making.
Their growth engines will be fully supported by our reignited
focus and vigor on technology/digital investments that would
act as the core backbone to both “Run and Build” the bank.
The management had earlier said that it is modernising the
existing bank and has created a vertical within the bank
called an 'enterprise factory' to keep the banks’ systems
always “ON”