The Conduct Advantage: trusted, secure, measured with an extreme focus on the client experience and employee behavior. Use analytics and insight to change the dialogue to align the business and risk agendas to eliminate or reduce common points of failure creating an operationally excellent firm. Now is the time to build the conduct advantaged firm!

What if you could create a conduct advantaged bank? 2017-08-07_09-23-06 conduct advantage

Process Reengineering Needs to Embrace the Digital World to Remain Relevant

Traditional reengineering that focuses upon the paper, the form or the activity will be of little value as our digital world becomes more pervasive. Think for a minute about how many businesses take comfort in a paper record, a signed document or a competed form. Now think for a minute how much of that will disappear over the next 2-4 years. The business issue is that startups and disrupters don’t care about the paper paradigm. They care about the client experience, efficiency and making it easy for employees to complete their work. They care about changing the paradigm. So if you are tinkering with the status quo, stop! Think about; if I were a disrupter, or a start up would I design it this way? Put your money and your resources where your strategy should be. Focus on the client, design the best journey you can with the best technology available and design your process for that journey.

Take a mortgage for example, non status quo thinking would be to capture client details from drivers license information, use real estate listings, electronic appraisals, client transaction history, credit bureau information and property tax details to originate a mortgage in under a day. Some lenders are doing that now! Others are still reengineering the old paper paradigm. Gee, I wonder which way the client wants it done? That will likely tell us who will win in the long run.

Leaders need to stop spending money in areas that are not strategic and lever the new technology that is here now. Reworking and old paper based system of record is spending good money on bad technology and wastes the effort of process engineers to get the old thing to work in the new way.

Why not build the new thing the new way built so that we get it right the first time and win for the business and the client?

Digital Process Management – Now its within our grasp

Start with the client, focus on the client, improve the client experience… but how? Doing the right thing for the client is difficult strategically, tactically and operationally; why because we can’t see all of what we do to/for and with the client. But what if we could operationally measure the client experience across channels, products, and within the “process”. If we could, and if we made it transparent, people could take action .. we could improve. Recent changes in technology, and in analytics are enabling the capability to tie data together to create insight that is very powerful. Imagine if you could see the time and effort it takes to resolve an issue, make a decision, the number of re-submits, the input quality, and the outliers that exist within the process. As leader and a person who cares about the client experience, you’d take action. You’d have to. The dialogue about the client and the process would change, performance metrics and the service levels would change, and the excuses would disappear. You’d know exactly where you were most broken and what you needed to do to fix it.  We now have the capability to digitally measure processes on an ETE basis. Today’s digital world has made this possible, you can now connect process activity to client journey’s and channel activities and use segment and profile information to take action to protect and serve your most valuable clients. Think about it!

I’m sure your competitors are!