Operational Excellence in Banking: Faster, focused, data-driven results with Process Mining
Banks are being buffeted by headwinds on multiple fronts. An operational excellence program is pivotal to how they respond and execute their transformation. It also buys time and plays a critical role in delivering better outcomes for customers and shareholders while the transformation teams design and implement their solutions. Process mining enhances traditional approaches to operational excellence by automating the critical step of process discovery. The generated maps and models reflect business reality and are supported with operational data that is so often lacking. With the discovered models as a foundation, the pathway to improvement then becomes more straightforward, more accurate, less risky, and significantly faster.
As banking processes evolve, they become cluttered with waste: unnecessary steps, extraneous controls, duplicated resources, and manual workarounds. Process engineers often start with optimism but often become frustrated without the tools or support, they need to be effective. Operational excellence enables faster credit decisions with fewer missed settlements, both reducing revenue leakage and delighting the customer at key moments of truth.
Operational Excellence in Banking: Faster, focused, data-driven results with Process Mining explains how Process Mining as a strategic tool for operational excellence teams.
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