As a financial crisis engulfed the nation, one of the UK’s largest retail banks recognized an opportunity to emerge stronger and poised for continued growth. Having made a variety of acquisitions, the bank utilized 40 platforms to support more than 200 business processes, most of which were manually intensive. The UK financial leader sought a solution to simplify these processes and create an operating model for the digital era while providing best-in-class customer service.
Wipro led a simplification program that reimagined and re-architected the bank’s business processes. This collaborative effort created a prioritized process roadmap to accelerate efficiency and improve customer service, with a key focus on automation. Working with the financial leader, Wipro transformed the overall technology architecture by leveraging the Pega platform to handle more than 200 processes. In addition, a new Pega Center of Excellence (CoE) supported this effort by driving process simplification, governance, and implementation.
The bank’s automation journey matured in stages during a five-year period. These stages varied from tactical automation for quick wins to full process transformation and automation using the Enterprise Case Management approach with Pega. Wipro formulated the best practices for process discovery, design reviews, and template design. A reuse strategy for shared components further improved efficiency, while a CI/CD strategy accelerated transformation with fast and efficient software releases.
Transforming its business processes with standardized and consistent delivery enabled the bank to redeploy 21% of its back-office FTEs to core-banking engagements. These simplification efforts also lowered operational costs by 30%. In addition, the transformation reduced onboarding time from 2 weeks to 2 days and improved customer satisfaction, as demonstrated by a 75% reduction in customer escalations.