The most dynamic, collaborative, connected organisations are 210% more likely to be using process automation and modelling.
Accessing and verifying customer information is no simple task. Customer data is managed by the lines of business that captured it during the original account opening and ongoing transactions. Maintaining customer information in multiple departmental silos is placing the bank open to risk posed by duplicate records, security, compliance and other data quality errors.
Banks have invested in business process automation to streamline processing. But new initiatives must go beyond efficiency improvements, focusing instead on better understanding of the business, optimising assets, involving the customers, improving financial performance and managing regulatory interactions. An Information Agenda creates an enterprise-wide vision that will help banks to execute and manage change with lower risk and attain better business outcomes.
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