When Argentinian bank BANCOR came to a crossroads in growth due to a lack of operational efficiency, it knew something had to be done.
Almost all (98%) of its processes were documented in paper manuals and cumbersome instruction documents, which in the financial world can spell disaster for process management and improvement. This lack of business automation meant that even minor process updates led to massive headaches, preventing bank-wide process mapping, staff efficiencies and valuable auditor compliance in a realm of ever-shifting banking regulations.
Also, BANCOR needed to integrate new customer-facing products – which a lack of efficiency was hindering. Ultimately, by limiting the performance of new services and products, this poor process visibility threatened its core customer experience.
That the market dynamics in financial services are changing at an accelerated rate is no secret. Boston Consulting Group found that operating costs of the best banks are already about 40% lower than those of typical banks, and they have roughly 50% fewer employees.
BANCOR needed to accelerate its business process transformation, and decided that ARIS Enterprise, with its ease of use and capabilities, matched the bank’s needs perfectly. Moreover, BANCOR saw how intuitive ARIS was - with easy integration, even during a global pandemic that had offices shuttered for months.
“From the experiences of others in the industry, we knew that ARIS was a first-class product,” said Rosana Polimanti, organization and process manager at BANCOR. “For us, the choice was clear.”
It leveraged business process design, documentation and analysis; business strategy mapping and dashboarding; charts and in-depth scenario planning; effective rollout and change management; and better IT alignment, automation and connectivity. A team of five architects and 25 designers diagrammed the complete flow process of three core business areas: checking accounts, credit cards, and customer linking.
Immediately, BANCOR personnel saw the real-time improvements. Application systems went from painfully opaque to clear and visible with all staff able to use the platform and accelerate workflows. Thanks to ARIS dashboards, the bank finally had the risk and compliance management data demanded by its regulators at its fingertips.
Given BANCOR’s early success with digital transformation, the financial institution is now working on further refining its process efficiency, developing stock models aligned with the expanded use of ARIS.
BANCOR discovered the platform leading them to success, and a true technology partner for the long haul. Polimanti concluded: “ARIS Enterprise has put us on a path toward a long-awaited business process transformation. It’s given us the ability to model processes with unparalleled visibility—and we’re only getting started.”
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