The challenges

The Shared Services group at the bank has an ongoing initiative to support the automation and digitization of processes for different business lines. Part of the difficulty in accomplishing this lies in the fact that there is no single, standardized process across the organization.

The organization had already made sizeable investments in existing technology to drive operational efficiencies, such as Silanis e-SignLive for e-signatures, HP Exstream for e-composition, and enterprise-wide workflow management solutions. Unfortunately, these investments failed to provide all the operational efficiencies the company had hoped for. Many of the issues with high error rates and reduced productivity stemmed from the data collection component of the process, which none of their solutions solved.

“We have a mantra we operate by, which is ‘run the bank, change the bank,’ and we were frustrated that we weren’t able to move fast enough and touch enough of the business lines to truly effect change at that level.” – Shared Services Lead, Banking Enterprise

Before Daylight’s engagement, the Shared Services group would work with the business lines on a project basis. Quoting these projects on a one-off basis meant that they were expensive, and builds were slow. While most projects spawned from the need for a new digital experience to collect data and drive a process, this typically also required rebuilding the back-office system to consume this new data digitally. Working on a project-by-project basis added costs and lengthened the project’s already long lead time. The Shared Services group achieved no economies of scale by working this way.

“When you’re supporting various projects built from scratch, there’s so much replicative, monotonous work,” says the Shared Services lead. “For example, needing to code the UI in every instance, particularly when each process has its own requirements with logic and how it will interact with the customer, plus testing to make sure it’s working with all browsers/devices,” they added. “It’s time our senior devs could be spending elsewhere, like working on integrations and centralizing our back-office.”

In worst-case scenarios, not wanting to absorb these costs or wait for their projects to become a priority, each business line would hack together their own solution, adding unnecessary complexity for the bank’s Shared Services team.

“We have processes that were designed a year ago, while others have been in place for 25+ years. In addition, our processes range from PDF to excel, phone calls, email, and green-screen terminals. Every project presents unique digitization challenges, which makes standardizing a solution very difficult.” – Shared Services Lead, Banking Enterprise