Archive for the ‘Strategy’ Category

NewImageBryan Yurcan, an analyst with Bank Systems and Technology wrote an excellent piece covering some of the technology trends to watch for in 2012. “8 Bank Technology Trends That Will Shape the Industry in 2012” covers a wide range of issues, most notably around mobility and security. In reading through the article, here are some of the key points I took away:

1. Convergence of Mobile and Online Technologies – As mobility continues to grow into a maturing channel, banks and their vendor partners will produced richer mobile offerings that take advantage of its unique capabilities.

Implications: Banks need to develop a cohesive set of technologies that will make mobile app and online development easier for banks to manage.

2. Business Process Management – Banks need better methods of gathering and reporting data to both increase efficiency and ensure regulatory compliance.

Implications: Banks will need to invest time/money into big data, analytics,  and the technical challenges of analyzing and reporting very large amounts of information with a quick turnaround. Data integration, along with enterprise system integration, will also help banks obtain a more accurate view of their customers.NewImage

3. Message Centers will Replace Email – Dedicated web portals designed for secure communication between a bank and its customers will continue to replace legacy email systems. Security are among many of the benefits for such a move. Ernst & Young that found employees within organizations and businesses are increasingly the targets of hackers rather than individual consumers.

Implications: Banks employing third-party and joint marketing campaigns need to develop a coherent strategy for integrating these capabilities with the message center paradigm.

4. Table-based Banking Experience – The potential for a great tablet banking user experience, especially with the rich interface tablets offer (e.g., IOS, Android, etc.), is nearly unlimited. Customer like feeling good when they deal with their finances, the mobile rich user experience of the tablet world offers a means for personalizing the banking experience.

Implications: Banks need to develop a comprehensive online banking strategy based on cutting-edge mobile technologies, such as mobile remote deposit capture, in order to meet the mobile user experience needs of the customer.

5. security, Security, SECURITY – As more user rely on mobile and tablet based technologies to conduct their banking, these devices also will become the growing focus of hackers and fraudsters, who are always on the hunt for ripe targets. It almost goes without says, but Ernst & Young nevertheless report released in November 2011 on the current state of security threats noted that consumers who access sensitive data, such as banking information, on mobile devices at wi-fi hotspots are more susceptible to hacks.

Implications: Banks need to assess their security portfolio across all user channels and expect to invest time and money into ensuring safe online, mobile, and remote banking practices.


6. New Post-Channel World – “The days when a customer would walk into a branch to fulfill all of his or her banking needs are long gone,” according to Mr. Yurcan. In most cases, customer are expected to finish their business (e.g., loan application) in the same branch it was started. But changing customer demographics, work and travel habits are changing this expectation.

Implications: Banks will need to better manage the seamless integration of online, offline and mobile channels in 2012 and beyond.

7. Using Self-service to Generate Bottom Line Revenue – In 2011, the customer black lash against Bank of America’s $5/month ATM fee sent a load message to the banking industry – Don’t charge me for doing your job! Customer want self service and expect not to pay for it.

Implications: Banks need to focus on self-service to grow the bottom line by encouraging customers to embrace cost-saving practices (e-statements, online bill pay, etc.).


Read Full Post »

Field notes1

The risk of human failure is possible in any endeavor, not with standing the work that I am doing to help a client plan for the migration of an enterprise claims management system. As part of developing an operational readiness plan, which spans two and a half years, we are developing a wide variety of governance characteristics which range from migration requirements to staging infrastructure to migration approach to business/risk assessments. It is a fairly comprehensive model for how, when, and where their business will be migrated.


As part of the process, we are now looking at some of the elements surrounding the human condition; specifically, the impact on productivity on the business during migration. Several studies have clearly demonstrated that there is a significant chance (30-50%) of decline in performance during periods of transition, during which new characteristics are being adopted. The question being address is how to deal with decline in a way that does not impact their clients. One can better prepare the employees which takes time or add additional temporary capacity (people) which takes money.


Our current thinking on how to address the impact on productivity is to create a Personal Operational Readiness program tailored to meet the individual capability maturity needs of each employee.  We are not only looking at different kinds of training (beyond the 3-5 day training programs), but training on operational data as well. When employees see their work in the new ontology, their productivity increases significantly, which is key for making the transition without adding large numbers of temporary employees.

More on this to follow…



Read Full Post »

Henry H. Goldman’s article “Implementing the Global Strategic Plan – A Human Issue” identifies 10 essential organizational elements necessary for implementing a strategic plan:

1. Planning Changes Interpersonal Relations – change creates feeling of uncertainty, which is an unnatural and uncomfortable human act.

2. Planning Changes Decision-Making Relationships – Decision makers must become forward thinking, which is also another unnatural human condition.

3. Planning Often Highlights Organizational Conflict – Organizational conflict often prolong the implementation of strategic plans.

4. Organizational Problems May Curtail Implementation – Shift from only focusing on current problems to also including over the horizon perspectives.

5. Fear of Failure – Humans don’t like to fail, but the future is naturally uncertain.

6. Planning Requires New Demands on Manager – Managers must become more abstract in their way of dealing with issues.

7. Desires to Avoid Uncertainty – Planning is a necessary element of strategy, but is often perceived as a threat.

8. The “Don’t Make Waves Syndrome” – Managers often go the easy road by following suggest guidelines rather than their own intuition.

9. “I don’t have the time” – Planning should be seen as a necessary part of the strategic process.

10. “Que, Sera, Sera” – Successful organizations literally make the future happen.

Read Full Post »