Three paths to thriving amid financial services disruption
Organizations should evolve and adapt to remain relevant—connecting insight, experience, and ecosystems. To help financial services leaders navigate topics from increasing regulations to talent shortages, and economic volatility, Deloitte and ServiceNow have outlined three paths to help organizations foster growth through transformation.
From banking to insurance, to real estate, investment management, and capital markets, the financial services industry has weathered waves of uncertainty. More than 60% of global CXOs believe businesses could see disruptions of the same scale as the pandemic in the future—meaning leaders should be prepared for multiple high-impact, unlikely events at any moment.
Navigating the path ahead
Deloitte and ServiceNow help organizations blaze ahead by empowering leaders at the intersection of capability and technology. With the right foundation and roadmap guided by three paths, organizations can make the most of their investments and better compete in a crowded market.
By tapping into the extensive financial services knowledge of Deloitte, and the low-code platform of action from ServiceNow, financial services leaders can build a better tomorrow for the industry and the people it serves.
Transforming uncertainty into opportunity while building towards a brighter future for financial services
Let’s make this work
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Today, market factors, disjointed experiences, unstructured processes, and siloed systems can hold organizations back from making a real impact. We’ll outline new, more productive ways to deliver value amid uncertainty by focusing on three paths. Combining deep industry knowledge with automation through process bionics, organizations can optimize operations and make proactive business decisions.
Explore the three paths to thrive amid financial services disruption
Digitizing workflows
Digitize workflows for more streamlined operations Starting with a foundation of optimization is critical to financial services success. A lean, fast operating model provides the agility needed to absorb change and remain compliant.
The situation: A global asset management company had 3,500+ financial advisors that were having to raise issues and queries via multiple manual channels. The result of these ineffective tools was siloed work and poor experiences.
The solution: With the help of Deloitte and ServiceNow, the company implemented a financial services operations workflow solution to create a single portal for client issues and queries. As a result, cases were resolved rapidly so advisors could focus on ensuring client satisfaction.
The outcomes:
8 catalogs centralized into a single portal instance
3,500+ advisors accessing the FSO portal on aregular basis
10+ teams following a standardized fulfillment process
Connecting the enterprise
Connect the enterprise to help elevate experience
In the new digital-first world, experience is everything. With unified access to services across the enterprise, organizations can remain agile amid changes like M&A activities to provide clients with the service they expect.
The situation: An Australian health care insurance provider was finding that their manual and disconnected onboarding process wasn’t cutting it. It required significant employee time and did little to engage new employees.
The solution: With the help of Deloitte and ServiceNow the company was able to connect three siloed systems and processes for hiring managers into a single unified experience across health insurance, health services, and aged care. The result was improved time to resolution for onboarding issues, better insights for managers, and greater visibility for new hires.
The outcomes:
3 siloed hiring systems unified into a single experience
1 day resolution for onboarding issues, compared to weeks
Visibility into manager non-compliance throughout the hiring and onboarding process
Scaling technology
Use technology to help build a proactive digital business
Many financial services firms aren’t seeing the returns they expected from their cloud migrations. But by taking a step back, and uniting around a plan, build, run framework, firms can transform into a digital-first enterprise.
The situation: A global investment bank was an early adopter of ServiceNow but found its ServiceNow instance had become heavily customized and increasingly complex over 10+ years. To support the migration of their 4,000+ applications to the cloud, the bank needed a standardized approach to evaluate, model, and validate their apps against the dynamic infrastructure the cloud would introduce.
The solution: Deloitte and ServiceNow supported this transition by evaluating the existing systems, creating a standardized data model, implementing a repeatable template for mapping, and a building roadmap for long-term adoption.
The outcomes:
1 standardized data model to guide migration of services from legacy on-promises to the public cloud
Expanded visibility, improved SLAs, and greater efficiency.
Get started today
See how Deloitte and ServiceNow are helping financial institutions absorb the continuous flow of disruptions and build transformation into their DNA.
