Sample Case Study for Digital Initiatives
- 1. For internal discussions only Digita l ABC Financial Services Digital 2.0 Initiative Strategic Partner Selection
- 2. For internal discussions only AGENDA Background and Scope Our understanding of current industry landscape & opportunities for ABC FS Our PoV on Target State @ ABC FS – Digital 2.0 Our understanding of ABC FS Vision and Strategic Themes for Digital 2.0 … And What Brillio offers and how we will ensure ABC FS’s success ! Our understanding of Current State @ ABC FS – Digital 1.0 What a Strategic Partner should have to make ABC FS succeed … Our proposal to kick-start Digital 2.0 Appendix – Corporate overview, overview of relevant practices, service/solution offerings, solution accelerators, alliance details, case studies, representative profiles for leadership team, HR overview, etc.
- 3. For internal discussions only Background and Scope Background • ABC Financial Service (ABC FS) has embarked upon its end-to-end digital transformation initiative (Digital 2.0) that aims to address several business and IT initiatives that realize its strategic vision • ABC FS is looking for a strategic partner that brings strong capabilities and proven expertise in the areas of consulting, design, solutioning and modern engineering. Scope • ABC FS invited Brillio to present its capabilities as part of partner selection processes • ABC FS would like to kick-start the Digital 2.0 initiative with rebuild of its customer-facing platform with the selected vendor
- 4. For internal discussions only Our understanding of current industry landscape & opportunities for ABC FS Competitive Landscape • Although ABC FS is among Top 20 mid-sized regional banks, its digital revenue ($100 M) is 50% less than industry average and 1/10th of the market leader XYZ Bank • Over 50% of the competitors offer digital P2P solutions (Zelle, RTP, etc.) while ABC FS’s solution is absent • ABC FS’s Credit Card Loyalty Program is rated poorly by customers citing it being inflexible and less redemption options e.g. very limited airlines, hotels, etc. • Certain areas of customer experience lack ‘omni-channel’ experience, e.g. Credit card applications, credit-limit changes, etc. whereas 80% of banks in Top 20 list have integrated solutions • Pure digital banks (e.g. Ally, Marcus) are grabbing increasing market share while traditional banks like ABC FS are struggling with agility and nimbleness of their offerings • CCPA Compliance Opportunities • Overhaul of Loyalty program to include interoperability with airline and hotel industry loyalty points / miles • Expediated integration with Zelle and TCH RTP • Consolidation, optimization and rationalization of products (Consumer Loans, SMB Loans, Equipment Finance/Lease, etc.), payment processing providers (Fiserv, WU, etc.) and IT platform • Launching new, digital-native product offerings for SMB and Large Corporations • Leveraging massive data massed over years to provide actionable insights to customers e.g. spend analysis, credit-line usage patterns, B2B lending patterns, customer support enhancements • Self-service options via web, mobile, APIs and chatbots • B2B APIs
- 5. For internal discussions only Our understanding of Strategic Themes for ABC FS Digital 2.0 Initiative In order to drive competitiveness ABC FS has identified following key strategic themes for its Digital 2.0 initiative • Accelerate business performance, and value to stockholders - revenue acceleration with cost optimization • Focus on deep customer centricity & loyalty in B2C as well as B2B segments • New product offerings that would not only accelerate existing revenue streams but also create new revenue streams • Be a nimble organization and achieve better business agility by • Organization-wide process automation – from business to IT to operations • IT Optimization by accelerated cloud adoption, embracing modern engineering processes, tools and technologies
- 6. For internal discussions only Our understanding of Current State @ ABC FS aka “Digital 1.0” • ABC FS has grown over years upon series of acquisitions in retail banking, equipment finance, consumer lending, and commercial banking space. • The underlying IT platforms, products, technologies and processes are not fully integrated. • The integration layer inconsistency is making processes inefficient. • The cloud adoption has been patchy making it hard to interoperate with legacy platforms. • Overall agility is impacted owing to this technical debt, thus severely delaying/limiting feature delivery to the clients • Limited range of digital-native products is limiting ABC FS’s ability to get larger share of digital revenue (current $ 100 M against the market size of $ 3 B) • Lack of omni-channel / multi-channel customer experience and self-service options • Lack of B2B APIs for SMB and Enterprise customers, Lack of P2P payment options • Outdated customer loyalty programs, customer service options, social media presence • Fragmented IT platforms and integration challenges making CCPA Compliance program very complex
- 7. For internal discussions only Our PoV on Target State @ ABC FS – Digital 2.0 Sam ple <Used from https://www.axxiome.com/ as representative sample>
- 8. For internal discussions only Our PoV on Target State @ ABC FS – Digital 2.0 Sam ple Key Digital Solution Drivers • Enhanced Customer Experience (CX) via • Modern, responsive UI • Multi-channel integration • Omni-channel experience • Enhanced self-service options and customer support / helpdesk channels • Improved Loyalty Program • API Gateway enhancements for B2C & B2B APIs • Information architecture overhaul and integration infrastructure standardization • Legacy technologies / applications / platforms / tools and processes rationalization, consolidation and migration to cloud- native architecture based on microservices • Org-wide process automation – RPA/RDA, DevSecOps automation, product mind-set & agile methodology adoption • New products leveraging big data analytics and AI <Used from https://www.slideshare.net/Mastek-UK/addressing-legacy-systems-fo r-a-digital-future as representative sample>
- 9. For internal discussions only Our proposal to kick-start Digital 2.0 While we understand the ABC had few false starts on this initiative, Brillio recommends following incremental program approach post its selection as strategic vendor – Program Phase Proposed High-level Activities Key Deliverables / Outcomes Primary Ownership Phase-0 (~2 weeks, Program Initiation/Pre-work) • Identify program leadership & core teams - Program Governance Board / Steering Committee, Digital UX/CX/Product Council, Data/Architecture Office, DevSecOps Office, ABC FS Academy, etc. • Contracts/SOWs • Team Structure • Governance / RACI Matrix • Core teams, Phase-1 team onboarding • Joint Phase-1 (4-6 weeks, Discovery & Pilot) • Define scope for pilot • Digital solution envisioning workshops • Streamwise agile/BRM workshops – MVP definition, • Solution Architecture definition, build working prototype, pilot RPA/RDA implementations, UX wireframing, etc. , perform POCs/POTs, hackathons • Define program operating model • Streamwise prioritized product backlogs, product roadmap • Working prototype of Customer- portal, UX wireframes • Overall Solution Architecture & Integration Architecture • Tech/Tools finalization • Brillio Phase-2a (90-days MVP-I) • Build MVP-I • MVP-I for business preview • Brillio Phase-2b (120-days MVP-II / Alpha release) • Build MVP-II • MVP-II for business preview • Brillio Phase-3 (150-180 days Private Beta release) • Build Private Beta, B2B QA • Private Beta release for internal, key B2B customer preview • Brillio Phase-4 (210-240 days Public Beta release) • Scale to public Beta, B2C QA • Public Beta for key B2C features • Joint Phase-5 (270-300 days Go-live / Public Launch) • Scale to full-scale public launch • Go-live / Public Launch • Joint