A New Operating Model
Despite its advanced digitization, the retail bank operating model is still based on the same foundations as 30 years ago: a commercial front office, a back office carrying out operations, a bit of specialized middle office to deal with complex subjects.
The organization and processes, IS, human resources, are still organized according to this separation of front and back, compartmentalizing operations and limiting the ability to respond quickly and smoothly to customer needs.
New technologies are, however, shattering the barrier between front and back office, allowing a real-time response to customers, automatically, with enormous productivity challenges.
Tomorrow’s operational model will be designed to include general hybridization, mobilizing skills in design thinking, innovation, data, IA, For Good, and cultural transformation.
- In order to start with a blank page, we need analysis that is open to the outside: taking into account the customer’s perspective, learning expeditions in Fintech and other sectors to take stock of operational models, technologies (data, IA, RPA, blockchain) and their level of maturity.
- We need to involve representatives from operations, data and IT, but also from channels and marketing, so we can build a model that is consistent with the revenue / services model and the target relational model.
- HR teams will be deeply involved, due to the major impacts that the new model will have on overall workload, skills and support for employees.
- Finance teams will also have to contribute, as part of the investment trajectory.
- Finally, this new model must meet ethical expectations: alignment with the bank’s purpose, ecological footprint, social footprint (jobs, employability, RPS)
To successfully combine these skills, we need to be methodical. First of all, we need to form small multidisciplinary teams that are 100% dedicated to analysis; tight teams that will have already shared their visions and their businesses. These teams will then work according to a design-thinking, customer-centric approach that will lead to MVPs. This will result in the emergence of a new operational model that is complete, coherent and efficient.