Rethinking the operating model: How a global bank accelerates transformation results

Share this post:

Business model innovation only just begins once you’re on the cloud—and the leading global banks are already making the move and are now exploiting cloud for innovation – and while they do that, they are having to rethink their operating models. In this episode of the Boardroom Advisory Series, we look at how transformation is no longer about the technology—it’s about the shift in how organizations do business. Watch the preview here:

In the full episode, we look at how moving to the cloud is transforming operating models to improve customer retention, open new revenue streams, and position incumbent, global banks as the disruptors in their own industry. IT professionals at financial institutions are under tremendous pressure to adopt and make the most of technologies like cloud, IoT, cognitive computing. But their real responsibility isn’t to invest in and deploy new technologies, it’s to support initiatives that transform business processes and business models, and that potentially alters the very future of the organization.

Boards at global financial institutions can no longer look at transformation as an IT problem because it’s now an enterprise imperative. One example I mention in the episode is a client who has seen an increase of customer retention between 10 to 12%. This increase can be attributed to their move to the cloud. By taking advantage of faster development times, better access to their own, secured data, and cleaner application integrations, customers saw improved service. The bank became the disruptor, not the disrupted.

To get there, architecture must be built with a holistic, enterprise approach. It requires participation from both IT and business leaders to rethink the operating model. Cloud adoption brings in new challenges – skills, governance, and processes that have to be transformed to deliver the promise of technological capabilities. Watch the full episode to see how IBM is helping Boards facilitate those conversations and accelerate results of their transformation initiatives.

Watch the full individual video here, and the full Boardroom Advisory series here.

General Manager, Cloud Consulting Services

More stories

Ask the expert: 20 questions fraud fighters want to know

In our webinar yesterday, the first in the series AI Fraud Detection — Beyond the Textbooks, we ran out of time and weren’t able to address some great questions we had from the audience. Instead of waiting until the next episode, I hope these brief answers will be of help and interest to both those […]

Continue reading

Turning the hard realities of payments modernization into opportunities

Payments modernization initiatives around the globe have long been a topic of huge interest and are at different stages of implementation in different countries. Time and again, it has proven to be a catalyst for transformation that has fueled innovation. Canada is now completely into this modernization party, driven by the modernization agenda and timeline […]

Continue reading

Stop waiting to apply AI for financial crimes

Challenges from financial crime incidents and penalties grow Criminal enterprises are becoming increasingly sophisticated at the same time as new payment methods are emerging (peer to peer and faster/immediate payments) and transaction volumes are exploding. And financial institutions across the globe are feeling the pain of high-profile financial crime incidents in the form of significant […]

Continue reading