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Seeking a return to pre-recession levels of profitability and growth, banks are embarking on a Transformation process which touches every corner of the operation--from providing new tools to its sales force to consolidating back-office operations. Research finds that Banking Transformation projects are over budget 41% of the time, behind schedule 29% of the time, and often cancelled midway.

Transformation programs must rely and leverage the best-in-class business Process Strategies in order to be successful through a combination of

* Process ownership
* Tailored methodologies
* Highly trained process delivery professionals
* Enabling technology
* Focused value capture

The 6 Process Strategies for achieving a fast and successful Banking Transformation are:

1. Empowering process owners and holding them accountable for the success of the Transformation
2. Selecting the Transformation approach based on the strategic intent
3. Dedicating teams of process architects to support the project through its lifecycle
4. Applying Business Process Management tools
5. Implementing process-based quick wins to kick-start value realization and gain momentum
6. Creating a Business Process Management Center of Excellence to improve value capture

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Source: Banking Transformation: Process Excellence PowerPoint document

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Banking Transformation: Process Excellence

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This business document is categorized under:

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File Type: PowerPoint (ppt)

Tag(s): Business Transformation Financial Services Industry Business Process Management

Number of Slides: 25 (includes cover, transition slides)

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Upload date (first version): Feb 6, 2018

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