In today’s digital age, a new operating model is required for banks seeking to leverage technology to gain insight into operations. When banks do this right, leadership teams create a scalable digital foundation, better deploy human capital, improve client experience starting in the back and middle office and accelerate growth. That’s where West Monroe comes in.
We work with banks to prime their operations for a progressively digital environment. When banks do this right, leadership teams build a scalable digital foundation, better deploy human capital, improve client experience starting in the back and middle office and accelerate growth.
Our multidisciplinary experience in commercial lending, credit and risk, operations, customer experience, organizational design, and technology enables us to provide strategic recommendations that are financially justified and operationally pragmatic for banks’ digital operating models. We back that experience with partnerships and proprietary data collection, assessment, and planning tools that allow our clients to accelerate transformation and create value sooner.
We believe in the power of cross-functional collaboration – not just for our own team but also for our clients. We promote this through workshops designed to rally bank functions around a shared vision and goals. To jump-start the planning process, we will analyze data and develop hypotheses for discussion. We also help you establish program leadership and oversight to advance development of your future digital operating model.
Updating a digital operating model for the future is not just about technology. It’s about how people, processes, policies, data, and technology interact to serve clients. So, we cast a broad net – using our proprietary Intellio™ assets to gather and analyze data quickly.
One area of focus is on your organization and operations – looking at how data flows through the front, middle and back office to identify ways for working more efficiently and effectively. The other area of focus is on digital, data, and technology, looking at current system capabilities and how they impact on workflow and efficiency. Our analysis puts particular emphasis on how a digital operating model can help your bank use technology better to enable data-driven decision making.
We compile all of the insight into a comprehensive set of recommendations for updating your operating model to meet business goals. But we don’t just design – we equip you to maintain the forward momentum. We’ll work with you to prepare a business case that defines the measurable impact of change. And we create a timeline of prioritized activities – with consideration for complexity of change involved, the resources required, and, most importantly, the value created. Finally, we’re also the partner to implement your bank’s digital operating model and bring the recommendations and financial value to life.