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ISG's recent study shows the banking industry's top priorities are operational efficiency and customer experience.
Will most people go back to purely in-person banking? No. But the demise of bank branches is greatly exaggerated - a recent Celent report says that 77% of customers want to be face-to-face for substantive discussions about their finances.
Read ISG’s whitepaper to learn how to reimagine your #branchstrategy for the future of banking.
A US based commodity producer had formed a finance analytics department. They had an initial team setup, but no holistic overview about the finance use cases and their priorities yet.
The client saw an opportunity to build an aligned starting point for their analytics and AI initiative and speed up the transformation process.
The client entrusted ISG to run a strong assessment and ideation program as a joint approach with the analytics unit and the business stakeholders.
Based on ISG’s deep market understanding, we assessed the existing analytics capabilities and the planned use cases.
Using the results and ISG’s experience in ideation processes for use cases in Analytics and AI, transparency about the business needs for Analytics and AI solutions was created.
To bring these solutions to live, ISG created a structure product-aligned high-level operating model for finance and an analytics center of excellence to allow future cooperation and scale analytics in the clients’ finance organization and beyond.
ISG enabled the client to boost their journey of becoming a data-driven finance department.
The close alignment between the analytics Center of Excellence and the lines of business allows the client to start with the 4 most important use cases. The team can then leverage the long list of 41 use cases to expand and to continue to drive value with data and analytics
The guardrails for the future operating model and the clear timeline for the next steps towards a well-defined data strategy led to a clear road to success.
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Learn MoreIn today’s rapidly evolving world, where technology is advancing at an unprecedented pace and business models are constantly changing, the finance and accounting (F&A) industry is at the forefront of a transformative movement. This industry plays a crucial role in enhancing the operational efficiency and strategic decision-making capabilities of global businesses, which are currently undergoing significant changes. The driving forces behind this change include the integration of AI and ML and the emerging influence of generative AI (GenAI) technologies. These technologies promise to revolutionize financial operations by providing unparalleled automation, precision and insight.
Banks are undergoing digital transformation to improve efficiency, meet evolving customer demands, and create resilient systems to become market-relevant and gain a competitive edge.
Every expectation of the contact center got slammed by the pandemic– from staffing, security, infrastructure, training, shoring locations, providers/captives, channels, performance to workforce management. ISG’s Sandra Williams discusses how banking contact centers became prime examples of Darwin’s theory that only the one most responsive to change will survive.
Automation can drive efficiency, resiliency and flexibility across the enterprise. ISG’s Jay Woldar explores how evolving technology from business process automation to robotic process automation to cognitive can transform applications and maximize return on investment.
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