In order to thrive in today’s complex banking environment, financial institutions need to become digital enterprises, transforming their business with a focus on how customers want to engage with them. They need to leverage digital technologies to make sure innovative banking processes and systems are in place to meet these demands, while ensuring rapid integration with core systems.
Transformation can change the game by restructuring the operational infrastructure around business processes—simplifying, reinventing and then automating them end-to-end. This can be implemented incrementally, with the most important and costly processes first—following the 80/20 principle. The outcomes can be dramatic, not only with annual cost savings, but more importantly, with high customer service level achievement rarely seen in the banking industry.
Transform to survive and thrive
The effects of the 2008 financial crisis are still being felt. Central bank economic stimulation, increasing regulations and global regulatory coordination have never been higher. At the same time, customers expect far better service with seamless multi-channel interactions and processes that are quick, accurate, and visible. For financial institutions to thrive in this tough new environment, they must operate out of their comfort zone.
Transformation can change the game by restructuring the operational infrastructure around business processes—simplifying, reinventing and then automating them from end-to-end. Digitization can transform each customer experience into a unique and personalized engagement, designed for both service excellence and revenue achievement.
Pega works with the largest and most innovative financial institutions worldwide. We support their transformational journey with an enterprise technology platform that allows business processes to be defined, built, changed and executed on a massive scale; a next best action decisioning hub; a seamless user interface across all channels and rapid integration with core systems. Thanks to our experience with transformation-level projects, we can support these implementations, while leveraging working relationships with leading strategic consulting and global implementation firms.