Around the world on a budget is exciting, but…
But having had the opportunity to enjoy a ringside view of the banking business, I can tell you, it doesn’t have to be that way. Pro-active planning goes a long way in easing the passage. Take for example, this not-so-uncommon situation. While pursuing its global ambitions, a bank acquires local technology platforms to support its activities, possibly as a result of merged operations. With processing then developing in a series of silos, it is often saddled with multiple systems which duplicate functions. Needless to state, wasted time and resources is the outcome. The bank has little option but to overcome this challenge by consolidating its IT infrastructure, centralizing the back-office and homogenizing operations across geographies. I firmly believe that banks can maximize ROI from their multi-country transformation by streamlining their approach towards consolidation, standardization – systems, solutions and process, while eventually rationalizing localization.
Additionally, a bank can leverage transformation evaluation tools to track the multi-country journey, through its execution with a unified 360-degree view. This will bring to fore multi-perspective views across the project, at a very micro level, for important stakeholders. This evaluation acts like a true index of the success of transformation.
Today, for progressive banks it is no longer a question of “if” but it is one of “when and how” to embark on such a program of technology-led multi-country transformation. For these banks I’d like to leave a thought. A clearly defined technology strategy driving your transformation program can help propel innovation, flexibility and growth, which in turn can increase productivity and profitability. The ‘multi-country trip’ is most often well-worth the time, resource and passion invested, when you realize the pay-off, back home.
