Overview
While the banking industry is undergoing fundamental change that is forcing banks to focus intensely on cost reduction and risk management, many banks are beginning to look at a longer term horizon to determine how to enhance revenue growth. Banks that lead the market coming out of the global economic downturn will be those that create the internal framework, processes and culture to respond rapidly to new opportunities, threats and regulations. This results in a relentless demand for service and product innovation, and a need for adaptability and flexibility on the part of applications.
The way that banks manage their application portfolios and the processes that govern them, determine the extent to which key applications warrant or inhibit change. IBM Application Services can help the banking industry lower the cost of application maintenance and enhancement, comply with increasingly complex and overlapping regulations, and manage risk through faster access to accurate, relevant and timely information. That is why it is essential to examine, benchmark and adopt processes that ensure your portfolio is managed in a way to maximize flexibility and return on investment.
Business challenges
- Improving business support and reducing costs by rationalizing existing systems
- Creating a business application infrastructure that is flexible and can adapt and scale to changing market needs
- Maintaining high data security and integrity
- Realizing business value in the face of limited funding
- Creating an integrated customer selling and buying experience
- Personalizing and improving the end customer buying/ownership experience
- Taking advantage of opportunity for organic revenue growth in new markets
Application services for banking:
- Lending value chain sourcing – Provides highly effective and efficient application management services across fulfillment and servicing operations.
- Legacy application modernization and rationalization – Reduces the cost of managing legacy applications within your core banking environment.
- Anti-Money Laundering (AML) Solutions - The maintenance and support of AML solutions utilizes IBM’s AML Centre of Excellence.
- Basel II application management and support – Reduce maintenance and support costs to enhance business value for critical applications.
- Testing assessment –Identify and implement improved testing processes in critical business areas, as when there are complex interfaces with third party data services or high volumes of data to be managed.
- Self-funded business transformation –Direct savings into business transformation, with no increase in overall net cost.
- Lending optimization - Application development and management can assist in driving out cost within the lending process. Outsourcing also results in the ability to focus on your core processes.
Why IBM
As a world leader in leveraging the benefits of consistent focus on Application Portfolio Management, application services for the banking industry can help reduce costs, improve quality, shorten time to market and improve business agility. Services span all phases of management and support — and can be combined to create the solution that best fits your business needs. Application services can help with a number of banking industry imperatives including strategic profit improvement, globalization, gaining competitive advantage or becoming a customer-centered institution.
As a leading global provider of consulting, systems integration and application services, IBM has unrivaled experience optimizing application investments and aligning them to business requirements. Our team of more than 90,000 Application Services consultants located around the world can assemble industry and technology expertise and utilize proven methodology, research innovation, and technology accelerators to help you reduce cost and risk while improving business value from applications.
