Designing a new Digital Transformation Strategy for a large Financial Services organisation.
Challenge
The client, a large financial services organisation, was undergoing significant change. To fully realise this transition, the client had three major challenges to overcome:
- Significant process duplication, complexity, and technical debt in the core consumer credit division and systems
- Unacceptable risk & excess cost of support and change hampered the organisation’s ability to deliver digital services to employees and customers
- A need to streamline business capabilities to their relevant product lines, to assist in achieving digital transformations proposed by the architecture roadmap.
Approach
Coeus' approach and industry-standard techniques were used to create a capability map of the business, which was then developed through a series of collaborative workshops. In addition, a current and target state architecture was developed in partnership with the Business and Technology teams and a future state cost and benefit model that looked at skills, technology, licensing and potential customer benefits.
Outcomes
Coeus developed a full roadmap to begin a £10m transformation, delivering circa £49m in value over 3-5 years.
Coeus successfully guided the client in simplifying the operating landscape and delivering:
- Improved Customer Self-Service and processes
- Simplified Governance & Compliance
- Simplified Technology Landscape
- Reduced Cost To Serve across Business and IT
- Reduced Cost of delivery of change
Read more about our Business Architecture capabilities here
Read more about our Financial Services offering here
