The Continuing Transformation Journey in Financial Services [Podcast]
Digital transformation is not one-size-fits-all. There are no technology vendors selling a Digital-Transformation-as-a-Service solution. So, how can financial institutions implement a successful digital transformation strategy that delivers on strategy, increases operational efficiencies, reduces operating risks, and fosters higher levels of interaction and integration? This type of success requires an organizational culture that fosters a focus on customer centricity and a dedication to breaking down the silos that traditionally exist between business and IT. Without that cultural shift, digital transformation efforts can flounder.
It was my pleasure to join our guest Julien Courbe, Financial Services Advisory Leader at PricewaterhouseCoopers (PwC), for an episode of the AppianTalks podcast series. It was an excellent opportunity to engage on the challenges and responses we are seeing as financial institutions move forward on the digital transformation journey.
Julien is a published thought leader and frequent speaker on key IT issues and trends within the banking, capital markets, asset management and insurance industries. He brought his deep expertise to the conversation and warned against falling into the trap that digital transformation in financial services means simply deploying technology. Technology is an important part of the conversation. For example, we have seen tremendous benefits when financial institutions deploy Robotic Process Automation (RPA) to accelerate middle and back-office functions. Very quickly, there is often a noticeable impact on revenue, without the need to retool existing systems. But, as you’ll hear in our conversation, a successful digital transformation strategy goes beyond deploying technology and stresses the importance of full-firm operating model changes and a commitment to creating open environments, including digitally native offerings.
During the podcast, we discuss:
- How technologies like robotic process automation (RPA) can help financial institutions along the transformation journey
- How incumbent financial institutions should be thinking about partnerships as we see the rise of more “digital native” entrants to the market
- How a digital transformation program can help financial institutions with compliance, avoiding monetary as well as reputationally damaging penalties
Listen here, and be sure to follow Julien on Twitter at @juliencourbe.The Continuing Transformation Journey in Financial Services
Learn More at Appian World
To hear more, make sure you register for Appian World 2018. There you’ll meet many of our customers in financial services and they can tell you how the Appian low-code development platform provides the intelligent automation — with Robotic Process Automation (RPA), Artificial Intelligence (AI), and case management — that helps them achieve digital transformation success. I hope to see you in Miami this April.