LEAN & AGILE THINKING
44 opportunities for leaner , more efficient services . “ I even think things like fraud detection , if you look at how fast the industry is digitising , could soon be able to detect fraudulent transactions with a set of AI-based rules ,” continues Robbins . The value of automation is particularly clear to ServiceNow itself with the creation of its Workflow product , which streamlines operations and mitigates bottlenecks through the elimination of manual processes and legacy systems .
Ultimately , a bank ’ s goal for leaner and more agile operations should be to achieve better outcomes for its customers . Doing otherwise , Robbins posits , could lead to an ‘ innovation trap ’: a scenario wherein an organisation spends too much time and too many resources on digital ‘ improvements ’ which have no effect on performance . As with many things in business strong customer-centricity will often indicate the optimal route for development and this is certainly
ROBBINS ’ FOUR KEY DELIVERABLES FOR ENHANCED DIGITAL SOLUTIONS WITHIN FINANCIAL SERVICES :
The following were listed by Robbins as ServiceNow ’ s core deliverables for its Workforce product . However , when applied generally , they form a concentrated roadmap for any bank or software provider seeking to upgrade existing IT capabilities in banking .
1 . Offer front-to-back process solutions which create efficiency , productivity and workflow resilience .
2 . Full system integration without the subsequent need to invest in additional middleware or services .
3 . Produce easy to set up or ‘ out-of-the-box ’ workflows built around the finance industry ’ s particular standards .
4 . Integrate risk management capabilities and policy compliance so that customers can receive efficiency gains from the process without sacrificing security .
OCTOBER 2020