Engineering a new way of banking
Become a Digitally Transformed Financial Institution
Society and technology are moving faster than the current business models can adapt. This is particularly seen in Financial Institutions, which continue to face challenges from all sides:
- Digital savvy customer expectations put pressure on products and services
- Non-traditional financial services businesses disrupt legacy operating models
- Ever-growing regulatory and security concerns require increased investment
- Exponential evolution in technology forces rapid innovation and adoption
These factors, and many others, are putting enormous pressure on Financial Institutions. Therefore, broad transformation is paramount.
The good news is that Financial Services companies have executed digital transformation initiatives for years. Many digital product innovations have emerged including revolutions in branch experience, digital money transfer, and customer service. Unfortunately, these are often isolated initiatives that have transformative traits (Agile, Product Management mindset, etc.). Success is difficult to repeat at scale which limits adoption. These wins are also not keeping pace with customer expectations.
According to a recent Lightico survey:
of survey respondents believe that digital banking journeys are broken or require off-line expectations.
expect banks to drive digital interaction for their safety.
Engineering a New Way of Banking
Broad transformative adoption requires focus on incremental success. Keys to success include rallying around the customer; aligning business, technology and product to a single set of common goals; and identifying measurable short-term results to create momentum.
In doing so, xScion is able to shift organizations:
We Can Help
xScion has years of experience in helping banks and financial institutions leverage technology to drive business value. Our approach is to maximize quick measurable wins in service of long-term goals. In addition, our clients benefit from a co-creation approach where we align our practitioner to internal teams to ensure that we maximize knowledge transfer. As a technology-centric organization, we understand the value of immediate ROI and development of your teams. Your needs drive our solutions. We custom deliver results in tangible, incremental phases that bring you quick value – from an assessment, technology validation, development or strategic execution.
“In this time, the Financial Services Industry faces a wonderful opportunity to truly change the way people think about, manage, and use buying power. Societal forces and technology evolution provide the necessary catalysts for change. The secret is to focus on smart incremental transformation steps that foster broad adoption and make your customers the hero of your story.”
Chief Revenue Officer
Learn More About Our Solutions
Exponentially Improve Analytics and Reduce Costs with Big Data
Learn how xScion helped a financial services company move from their existing data warehouse to a Cloud-based environment to improve analytics performance and substantially reduce costs.
Scaling Agile with AAMM
Learn how xScion leveraged its proprietary Agile Adoption Maturity Model (AAMM) to assist one of the largest banks in the United States to assess maturity, create a foundation of understanding, build cultural buy-in and train teams for success.
Product Lifecycle with AAMM
Read how xScion helped a large financial institution to assess its current Product Lifecycle Management (PLM) practices and develop a detailed roadmap to enhance culture, processes and tools for future growth.