I’ve been fortunate in my pursuit of business process improvement practices to talk with a number of bankers, banking technologists, and  industry analysts and advisors about current FSI needs and future wants.  As we come to the end of this year and look ahead to 2012 , I thought I would share some of the highlights of those conversations: 

  • Improved ability to focus on the customer is a primary concern.
  • Cost reduction, regulatory reporting, rapid delivery of new products & services are and will continue to be top of mind.
  • The retiring workforce is seen as a risk, as are meeting the requirements of the “new” (social and mobile) employee and customer profiles.  This drives a perceived need to get new and improved systems in now.
  • There is major focus on consistent brand experience and integration across channels (esp. w/mobile)to improve customer service/satisfaction.
  • Banks are often pursuing business process and case management solution purchase decision as though getting an application (vs. a BPM technology platform)
  • A natural cycle of refresh is happening and banks are open to new sources – the notion of an app is morphing… Build or buy,  is no longer the simple question … category is blurry, a continuum.
  • Many of the banks start with a modernization approach (technology focus) but then find they need a business transformation.  
  • IBM, Oracle, Microsoft  identified as strategic vendors, but  banks of all sizes seem to be willing to go for mixed solutions and heterogeneous approaches.

Of course, it’s important to realize that the above points are a result of my conversations and not necessarily a scientific study.  I would be interested in your views and what you are seeing and hearing in the banking industry for process improvement initatives.

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