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Upping Operational Efficiencies with Channel Convergence

The challenges the bank faced related to the overlap of channels, functionality, and markets. The channel convergence onto a single framework ushered in a single logon with common access to all functionalities.

THE ENTERPRISE

One of the four largest 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.

BUSINESS CHALLENGES & IT ALIGNMENT

The challenges the bank faced related to the overlap of channels, functionality, and markets. Changes required are expensive due to technology challenges and the number of offerings, as there existed multiple channels with distinct operational models, support structure, and codebase. The transaction market has a substantial share in the banking industry, especially in the retail and corporate banking sectors. The bank decided to converge the channel platform to make the bank competitive in the transactional banking space with the following objectives:

  • Convergence onto a single framework.
  • Consolidated method of application development.
  • A single security model.
  • A single profile.
  • A single channel platform.
  • Service invocation design.
  • Consolidation of integration infrastructure.
  • Consolidation of design patterns across each of these to set the boundaries for future development.

THE SOLUTION WALKTHROUGH

After going through the customer requirements and the expectations, Nihilent rolled out a comprehensive solution roadmap. After the requirements evaluation and management, Nihilent managed the development, testing, and implementation activities. It also designed and developed the backend application software on mainframes and project execution for the onsite and offshore model. The tech interventions made by Nihilent enabled the bank to go truly Digital, advanced integration from a siloed scheme of processes, and improved the overall operational efficiencies of the bank.

POST DEPLOYMENT BENEFITS

  • Single logon with common access to all functionalities.
  • No switching channels as the business grows.
  • Frequent feature / function upgrades.
  • Pay only for required features.
  • Intuitive and easy to use interface.
  • Accessible globally.
  • Multi-user accessibility through multiple modes of security.
  • Provides a platform where the bank can take a leadership position in the industry backed up by reinvestment, concurrent marketing, training and motivating sales.