Digital transformation – are you ready for it?
Digital transformation is an organisation’s adoption of digital technology to digitise non-digital products, services or operations. Its implementation aims to increase value through innovation, invention, customer experience or efficiency.
Here at Brickendon we have done just that working with a Global Financial Institution to achieve digital success by implementing our sector-specific transformation project within. The goal was to provide resilience without lending resolution or causing severe harm to the market, customers and firm. This project was 2 fold: A requirement to better support Business Service owners via a new framework. Aiming to build a structure to support end-to-end business continuity and integrate thiswith the current framework. This was both regulatory-driven and continuity driven within the business to enhance the business continuity and customer experience.
The secondary piece was to provide tax incentives for people to make investments that would complement financial security for their retirement and allow the distribution of their funds online.
All Global Financial institutions are striving to provide customers with a digital service. This project was launched allowing customers to submit requests at their own convenience using online banking. There was a technical digital transformation with a focus on customer services enhancement and digitalisation of the operational process. A second project was simultaneously implemented to automate a number of manual processes and lead to automated clarity reporting solutions. Meetings and documentation storage via encrypted methods completed the regulatory requirements. Finally driving onboarding actions of the customer parties which increased the sustainability of the institution’s business services, implementation of the solutions and procedures and fulfilled the regulators’ requirements.
Brickendon are at the heart of working with institutions and subject matter experts to add these transformation goals to positively impact the business and improve both customer and firm experiences.
Not only did this project result in the avoidance of fines and service disruptions worldwide but also fulfilled regulation requirements and shorter reaction times in case of incidents for the firm and customer. Severe manual processes were replaced with automated solutions. This all increased the client experience and satisfaction, as well as increasing digital engagement at a lower operational cost. Some challenges that were encountered and we see this in many institutions were the major organisational changes that put leading resources at risk, funding issues and delayed management decisions.
As a vendor Brickendon offer all these services and a wider range of project-specific services and solutions. Each digital transformation project experiences different procedures, enhancements and obstacles, and Brickendon are suited to cover all of these aspects.
This is a massive reason why Brickendon has been nominated in the category of Best Digital Transformation in Financial Services.
Brickendon - Advise. Change. Operate.
Delivering value from inspiration through to operations. Our global workforce help our clients with the full transformation life cycle of strategic advice, complex change, rapid prototyping, development and managed application services.Contact Us