Banks must address three key imperatives: clients, agility and risk while differentiating themselves by optimizing client channel interactions, delivering user-centric offerings and turning clients into advocates. By streamlining operating models, modernizing IT, and reducing the IT/business disconnect, banks can become more agile and continue to drive down costs. To combat risk, banks must continue to improve governance models and ensure comprehensive, accurate and timely data.
Inflexible, complex operations and siloed data can make addressing these elements difficult. Systems and applications are interlinked to support enterprise processes, yet are often one-off direct connections between back-end data and business processes. With this approach, banks can’t adapt easily to change and suffer at the bottom line.
Banks can address these challenges and differentiate themselves through business model innovation and business process optimization. Read this paper to learn more.