Process Mining and Digital Discovery in banking – monetising your operational data - Banking blog

Becoming a truly insight-driven organisation

In most industries, executives would object to retaining assets in their company that are not utilised, such as an employee not given any tasks or a factory left idle. In the banking industry, however, firms often do not make use of one of their most valuable assets: their data − specifically, all the data generated by the ongoing business, which could tell a story about how efficiently certain processes are executed, where the operating model has imbalances, where process delays are a common, and which process failures or breakdowns impact negatively on their customers’ experience and overall satisfaction.

In recent years, virtually all incumbents in the global banking market have embarked on major transformation programmes to become insight-driven, customer-centric and more agile in adapting to recent market trends. It remains to be seen which players will lead the way, which will follow and which will get lost on the way. Those that fall behind with their efforts at transformation will find themselves less competitive on asset utilisation, with a lower level of automation, and with less transparency in their processes and organisation.

Monetising your operational data

Process Mining and Digital Discovery is an approach that can help your organisation turn the millions of data points that it generates into actionable insights.


More importantly, it provides a real-time view into your organisation’s activities – not as they were intended to flow or as they were once documented in a handbook – but rather as they flow in reality. Process Mining unveils process steps you did not know were happening, re-work cycles, actual throughput times, automation rates, and much more. It enables you to identify many hidden opportunities to reduce costs, and increase customer satisfaction, quality and performance. Supported by powerful visualisation functionalities, it puts you in the driving seat to steer and continuously improve your business proactively with a set of meaningful and reliable KPIs.

Firms leading the digital transformation in the banking space and monetising operational data will find themselves making better decisions, reducing their costs and offering a quicker and more reliable way to serve their clients. With more insight into their organisation, firms will be able to model specific decisions more accurately before committing to them. A higher degree of insight into their customer-facing processes will enable them to react to market trends more quickly and reduce process delays that curb customer satisfaction.

Firms that fall behind will find themselves facing higher cost pressures, lower margins and still performing tasks with manual labour which their competitors have long digitised.

Where Process Mining and Digital Discovery generates value

Generally, Process Mining and Digital Discovery applies to all processes with relatively high transaction volumes – and with the new Deloitte Digital Discovery approach, manual processes can be reconstructed to gain transparency and realise maximum benefits.


What you should do today

If you are interested to learn how you can use Process Mining and Digital Discovery to improve transparency in your processes, increase throughput times, identify bottlenecks and optimise other process-related KPIs, then get in touch with our Process Mining experts in Switzerland. You may find that the answers to your questions are already there – they may just be hidden.

Hugh Macquarrie 05

Hugh Macquarrie - Partner, Deloitte Consulting Business Operations Leader

Hugh leads Deloitte Business Operations in Switzerland. He has over 17 years of experience in banking industry consulting and supported many leading international banking institutions and wealth managers in large scale transformation and optimisation programmes.


Martin Gertsch_5

Martin Gertsch - Director, Deloitte Consulting Business Operations

Martin leads the Financial Services Operations Excellence team. He has 14 years of experience in the Financial Services industry focusing on process and cost optimisation, digitalisation, process analytics and organisational change. Martin is CFA® charterholder, Business Economist FH and a Lean Six Sigma expert.


Picture Tim_Haeseker_06.2017

Tim Häseker - Senior Manager, Deloitte Consulting Business Operations

Tim is a Senior Manager at Deloitte in the area of Operating Model Transformation and Operations Excellence. He has 10 years of experience in in the Financial Services industry focusing on Target Operating Model design with a strong focus in process and efficiency optimization and digitalisation, process analytics and organisational change. Tim holds a MBA from the Rotterdam School of Management and MA in Competitive Strategy from the London School of Economics (LSE).



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