Business Process Improvements include efforts to reduce expenses, support business growth and improve risk management.
Improvements can be in the front, middle or back offices, or in end to end processing.
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Business Process Improvements include efforts to reduce expenses, support business growth and improve risk management. |
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Business Process Improvements in the Financial Services Industry are often driven by the ongoing business transformations that require a different business model than in the past. |
Product Centric View |
Customer Centric View |
A product centric view creates “silos” of functionality which, over time, are in conflict with customer needs. |
SGFleming Consultants
Fixed menu of products
Low customization
Banks go to market by product
The distribution is well established
The procedures are documented
A system is built
"Product Silos" |
Business Events: Predetermined |
Customers will demand products and services as if they are a "market of one"
Customers will use multiple channels
Banks must be configure products that meet customer needs "on demand"
Customization must be accomplished within defined boundaries, yet appear to be "custom"
Procedures and systems must be dynamic and at the same time "simple"
Capabilities must support any product configuration and service request
Operations must be cost effective and demonstrate economies of scale and scope
"Flexible Operations" |
Business Events: Dynamic |
