Efficient processes, the automation of resource-intensive, manual workflows and flexible system landscapes are all critical to digital value creation at banks. However, heterogeneous system landscapes, complex IT systems and even a complete lack of IT support pose key challenges when it comes to the design of a modern workplace at financial institutions. At the same time, system and media disruptions make seamless, end-to-end process support more difficult due to the negative impact they have on the overall customer experience. This leads to additional work that could have been avoided, generates high costs and presents an obstacle to digitalisation.
Solutions to the challenges of digital value creation at banks
- Heterogeneous system landscapes containing a large number of systems and siloing
- Media and system disruptions delay processing in day-to-day operations
- If multiple entries are made when data is collected, this leads to extra work, creates complexity and increases the likelihood of errors
- If data is not used consistently across the board, this creates lots of unnecessary work and leads to frictional losses
- Manual, paper-based processing and a lack of systems for doing things like initiating business deals
- Inflexible core banking systems limit the ability to modernise every system across the board