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New Strategies to Improve Banking Resiliency

Explore the benefits of process mining in financial services

 

How to drive productivity, reduce risk, enable digital and help teams and their leaders organize for success

With Nigel Adams, Banking Expert and Director at Hetton Advisory 

 

Banking resiliency has come a long way since the global financial crisis of 2008. As well as repairing bruised and battered balance sheets, banks around the world have had to deal with far greater regulatory intervention, rapidly evolving customer and community expectations, shrinking margins in a low-interest world, an onslaught of innovation sparked by new competitors from the FinTechs to the global Tech giants and, to cap it all, a global pandemic. 

 The scale of change is overwhelming. The industry response has been transformed at an unprecedented level. Irrespective of geography, large, mature banks are grappling with transformation on multiple fronts: 

  • Operational excellence transformation
  • Digital transformation
  • Risk and compliance transformation
  • Customer journey transformation
  • Organizational transformation

Previously, delivering any one or two of these programs would have presented a significant challenge. Today, there is an urgency to deliver all five  concurrently. To cope, banks have turned to new ways of working, bringing with them new toolsets and technologies. 

While many banking executives are familiar with technologies like Cloud, APIs, Chatbots, Robotics and AI/ML, process mining is only just starting to emerge as a toolset destined to play a significant role in supporting banks on their relentless transformational journeys. 

In cooperation with Apromore, Nigel Adams shares how this cuttingedge technology can help transformation leaders in banks focus on the customer, drive productivity, reduce risk, enable digital and help teams and their leaders organize for success. 

The potential for process mining to make a real difference to banking performance is significant. If you’d like to learn some more about specific use cases that align with the current banking transformation agenda, please download the whitepapers and watch the recorded seminar with Nigel Adams and Marcello La Rosa, providing insights and practical tips on financial sector benefiting from process mining, below.

 

Nigel Adams is banking expert, who has nearly 25 years of experience focused on creating enterprise value from operational improvement, risk management and performance optimization. In addition to a consulting career at KPMG, he has brought his skills to bear for leading banks, including NAB and ANZ, focusing on global payments and cash operations, financial crime and business performance 

Process Mining in Financial Services

 

Banks around the world are dealing with greater regulatory intervention, rapidly evolving customer and community expectationsWhile many banking executives are familiar with technologies like Cloud, APIs, Chatbots, Robotics and AI/ML, process mining is only just starting to emerge as a toolset destined to play a significant role in supporting banks on their relentless transformational journeys. Yet, it has the potential to make a significant contribution to transformation, productivity and reduction of risk.   

Is a lack of visibility and ability to simulate the impact of changes holding you back from achieving performance, risk and service goals? Don’t miss out on this unique opportunity and watch our How Banks Can Reduce Cost and Improve Resiliency with Process Mining webinar on-demand. 

Key Takeaways

  • Learn why customer journey transformation will only result in disappointment if it’s not linked to process execution.
  • Hear why operational risk management efforts will falter without the right tools, techniques and people to understand and improve processes. 

Watch now

 

 

Apromore's Webinar On-Demand

 

 

Operational Excellence

Operational Excellence in Banking

 

Banks are under immense financial and competitive pressure right now. One response sees banks reaching for digital transformation on various levels. To successfully manage this change process, banks need to make use of sustainable operational excellence as the underlying foundation of it all. As part of sustainability, service and quality cannot be treated as trade-offs, posing new challenges. 

In collaboration with Nigel Adams, Director of Hetton Advisory and banking expert, we walk you through the operational excellence pathway. Download the first whitepaper of our new banking series to lay the groundwork while diving into how process mining allows banks to accelerate the time-to-value as well as enhance outcomes. 

Key Takeaways

  • Get a feeling for sustainable operational excellence and discover how it is supported by process mining. 
  • Even a re-engineered process, that is built on the same technology stack, is hard to automate tactically end-to-end. Learn what you can do to overcome such challenges.  

Download

Digital Transformation in Banking

 

New realities of evolving customer demand and behavior are driving banks to redesign their processes and digitize on their road to full digital transformation. This change process can be daunting, fraught with risk and expensive. Process mining offers a fast and easy way to understand the current process landscape while providing analysis capabilities to create the digital future of banks.  

In collaboration with Nigel Adams, Director of Hetton Advisory and banking expert, we take you through the transformation process of banks and elaborate on how process mining can accelerate this journey. Download this next white paper of the series to dive into the digital transformation in banking.  

Key Takeaways

  • Discover how discovered process models can be used in digital transformation initiatives in banking 
  • Learn how process mining allows you to test customer migration strategies 

Download

 

 

Digital Transformation

 

 

Operational Risk

 

Operational Risk in Banking

 

Volatile markets and the high complexity of fragmented processes and legacy applications put immense pressure on risk professionals in the banking sector. Process mining can help to reduce this pressure and allow risk professionals to focus on what really matters. Improved alignment between risk and operations functions and richer insights into the control environment are just some benefits.  

In collaboration with Nigel Adams, Director of Hetton Advisory and banking expert, we take you through the transformation process of banks and elaborate on how process mining can accelerate this journey. Download the whitepaper on operational risks in banking to learn more about how risk management professionals and auditors can enhance their insights with real process data.  

Key Takeaways  

  • Learn how you can speed the discovery of root cause analysis, identification of errors and omissions for faster mitigation with process mining.  
  • Discover the potential of process mining in relation to risk management and continuous monitoring.  

Download

Bringing Customer Journey Transformation to Life


New competitors through investments into FinTech and changing customer expectations are putting immense pressure on banks. And banks are responding. Most are embarking on transformation programs to enhance their customer experience proposition. Process mining can ensure those transformation efforts are concentrated on the right processes, breaking information silos where necessary. 
 

In collaboration with Nigel Adams, Director of Hetton Advisory and Banking Expert, we take you through the customer journey transformation process of banks. Download this whitepaper to learn more about implementing data-based to-be processes that truly transform customer experiences.  

Key Takeaways 

  • Discover how process mining capabilities can be applied while improving and reimaging the to-be customer journey. 
  • Use process mining to focus on the lifetime value of customers and deliver better holistic experiences.  

Download

 

 

Customer Experience

 

 

 

Operating Model

 

Changing the Operating Model is a Lot Riskier than We Think

 

Banks all over the world are embracing transformation. In response to market pressures, operating model changes are not uncommon for banks. Any operating model change, however, is a serious undertaking with broad-based impact. Getting this change right can power an organization on to a new growth trajectory while getting it wrong can see the fabric of the organization unravel quickly.  

In collaboration with Nigel Adams, Director of Hetton Advisory and Banking Expert, we take you on a journey to derisking such changes to the operating model. Learn how to use process mining to ensure you and your organization are getting it right! 

Key Takeaways 

  • Dive into the planning and execution of the operating model change and learn how process mining can support these phases. 
  • Understand the significance of process mining and its capabilities such as conformance checking for implementing and monitoring change.

Download

 

Interested to learn more about how other industry verticals benefit from process mining?

Find out here

Industry Verticals

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