Key success factors for SMART AUTOMATION In BANKING
SMART AUTOMATION initiatives may fade overtime with organizations losing focus on the core business needs and hence it is important to:
Spark interest to enable stakeholder’s interest:
- To ensure the stakeholder’s support, it is important to empower people in small teams, link these teams and build and organizational culture that keeps people aligned
- Shifting the focus from a technology solution to a business transformation enabler gives a higher sense of ownership to the teams. If the processes are not mapped correctly, automated activities may be incorrectly performed
- Automating an inefficient or poorly controlled process only amplifies the issue. Hence, process owners must be involved in the process assessments to secure their early buy-in and help build the business case and its acceptance
Break the silos of the technical infrastructure:
- Transformation projects require numerous requests in terms of access rights, UAT environment, installation of new software and hardware. By maintaining a continuous overview of incoming projects and managing the demand pipeline will help IT prepare itself in advance
Prepare a robust IT Security, Legal & Compliance framework:
- Many projects are involving client information or mandatory notifications to be sent to regulators which can be time consuming leading to delays in the projects. Adopting a proactive approach by involving Legal and Compliance early helps in foreseeing any potential regulatory bottlenecks. Cyber security is another key area that requires attention from IT security with the new emerging technologies within the organizations
Anticipate the human impact:
- Automation can strongly impact the workforce needed for some tasks. Therefore, it is essential to prepare a plan to reallocate the operators impacted. Also, digitization alters the profiles needed as analysis will be more and more predominant to production. In collaboration with HR it is important to review the job descriptions
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