The Bank was looking to redesign and build a next gen Teller platform as part of their business strategy of Business Transformation. They requested the SLK Consulting team to do an analysis into whether they should Build or Buy a platform. SLK conducted this analysis, came to a conclusion on the best way to move forward and executed on that strategy for the bank
PROBLEM STATEMENT
- The bank was planning to redesign the teller solution as part of digital transformation
- Bank was exploring industry solutions as part of this (Argo, FIS)
- The Bank Leaned toward Buy as it was perceived to do “Magic”
- Off the shelf features including Regulatory compliance ready with minimal integration was the expectation
SLK’S SOLUTION
- SLK challenged the “Buy” solution and instead recommended modernizing existing Teller platform
- SLK did an independent assessment of teller solutions keeping mind business values, cost benefit analysis, TCO (Total Cost of Ownership) of Buy Vs. build options
- SLK demonstrated this with a Proof on Concept on Right-Fit Custom Solution that aligned with the Banks Digital Strategy
- Branch Image Capture, Session Based Transactions and Automation of Compliance/Regulations were implemented
KEY TAKEAWAYS
The Bank partnered with SLK to enable an end-to-end modernization of their Teller system. Everything from conceptualizing of the best approach to move forward, to the overall execution of modernizing their existing Teller solution
- SLK partnered from conceptualization to value realization
- SLK’s consulting team challenged the existing “Buy” approach from the Bank
- Demonstrated Proof of Concept
- Aligned with bank’s Strategy
- Yielded 50% cost savings against the “Buy” Option
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