Retail Bank
“Logica were good at adapting the structure of their team and bringing in the right experts at the right time. They were involved in what we were doing, took on board our business targets, and came up with many proposals” says IT Manager for Workflows and Processes.
About the Bank
Retail is big business for one European bank, whose retail operation employs more than 136,500 people in 52 countries. In fact, 45 per cent of the bank’s total revenues in 2009 came from retail activities.
The Challenge
Automating the processes and changing to electronic document formats would be much more efficient. But it would only fill in one part of the puzzle. To complete the picture, the bank needed to create integrated workflows with electronic document management.
Our Answer
We came up with an original idea to speed up the project and make it possible to use the software in other parts of the bank. We first built a ‘vanilla’ solution with core functions that were not linked to any particular business process. Then, step by step, we added extra functions for each individual process.
The bank liked our idea because it meant we could develop the core solution very quickly, compared to a full solution with every feature on board. The bank would be able to enjoy the benefits of automation sooner than originally planned. And it would be easier to fine-tune the design during testing, before adding new functions for each process. This way of working also allowed us to test the core solution quickly and show rapid results to the back-office staff who would be using it.
A Success story
The first batch of 12 automated processes has now gone live. When the bank receives a fax confirming a deposit, for example, Virtuo now checks all the information on the fax without any human input.
After this pilot, managers will consult with staff and talk about the next phase of the project. But the first success is that users have already accepted the solution.
The bank intends to deploy Virtuo for all its 400 back-office processes as soon as possible. It’s also likely that different parts of the organization could use the solution because, since Virtuo contains nothing that is exclusively linked to retail banking or to one country, the possibility of extending its use does exist. “Virtuo is potentially very re-usable, and that’s one aspect of the project that we find particularly dynamic and interesting,” says the IT manager for Workflows and Processes.
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