This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Reaping the Digital Benefits
-
Service Category:
Digital Transformation -
Vertical:
Banking & Financial Services -
Region:
South Africa
A look at how Nihilent assisted a leading bank in South Africa to embrace digital and reap the dividends.
THE ENTERPRISE
One of the leading banking groups in South Africa, the group offers a wide range of wholesale and retail banking services through multiple business clusters. With the group positioned to be a bank for all – both retail and wholesale banking perspective, the principal services offered by the group are corporate and retail banking, property finance, investment banking, private banking, foreign exchange, and securities trading.
THE BUSINESS CHALLENGES & IT ALIGNMENT
As we take a closer look, there were numerous disconnects in terms of IT alignment and business operations. The key challenges the bank faced were ones like:
- Absence of customer-centricity.
- Challenges in embracing an Agile methodology adoption.
- Absence of dev process automation.
- Disperse architecture.
- Absence of a testing strategy.
- Lack of expertise to adopt technological innovations.
- Challenges in moving rapidly from requirement to solution.
THE SOLUTION WALKTHROUGH
Nihilent transformed the bank’s way of working (both Corporate and Retail) from traditional to more efficient and scalable Agile by incorporating digital transformation methodologies using the latest technologies and solutions powered by CICD DevOps practice keeping corporate customers at the core.
POST DEPLOYMENT BENEFITS
The bank’s digital transformation initiatives saw multiple benefits being accrued. The significant ones were:
- It minimized the handoff between different teams like Financing, Trading, Investing, Advisory and those of retail arm realizing a huge reduction in knowledge transfer.
- Teams and portfolios aligned to a line of business, making it a robust entrepreneurial model including Corporate and Lending Advances, Transacting portfolio, Custodial Services, and the Loan Department.
- Chapter and Guilds aligned with the knowledge base, making it a robust knowledge model.
Moreover, by virtue of these interventions, the bank was able to:
- Identify new line of business portfolios.
- Identified and transformed product design, development, and delivery teams.
- Identified and transformed knowledge-sharing practice.
- Identified and enhanced collaboration model within teams.