What does a digital transformation journey look like for a traditional bank?


This story is about a traditional bank that has embraced digital transformation to stay relevant in the face of fierce competition from FinTech challengers. TSB is a UK retail and commercial bank and a subsidiary of the Sabadell group.

The bank offers a combination of on-premises systems, managed services and cloud technologies. TSB sought to create a technological system that handles customer requests transparently across disparate systems. If a problem should arise, the system is able to resolve it immediately. All of this had to be done in compliance with regulatory requirements, ensuring safe delivery and protection of services to its customers.

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The solution

The bank chose two tools: the Dynatrace software intelligence platform, for monitoring environments, and ServiceNow, for orchestration and serving as a management platform, acting as an air traffic controller for the company. DynaTrace integrated with ServiceNow ITOM (IT Operations Management) provides visibility into events and alerts across the enterprise.

The solution explained

TSB turned to Infosys to deploy the ServiceNow platform as the backbone of its services. Designed according to ITIL guidelines to provide service direction for tasks, activities and processes, ServiceNow uses machine learning to streamline activities and workflows. Incident and problem management can be managed from within ServiceNow, providing all the information to resolve issues without relying on spreadsheets and emails.

Hosting in ServiceNow data centers provides the opportunity to expand with increasing customer demands and compliance with local regulations such as the General Data Protection Regulation (GDPR) in Europe. ServiceNow provides the process and tools to manage customer inquiries, IT incidents with intelligent workflows. Anyone working on these requests can assign, prioritize, collaborate, and resolve root cause issues from a single cloud platform.

The Infosys relationship

Regarding choosing the right partner, Suresh Viswanathan, COO at TSB Bank, said: “The selection of Infosys as a technology partner was based on a relationship of trust and a proven track record with similar integrations in other financial institutions. Infosys has extensive experience with ServiceNow and plug-ins from the Infosys Enterprise Service Management Café, which is part of the Infosys Cobalt portfolio.

Implementing cloud-supported IT upgrades to improve speed to market has always been a top priority for financial services companies, even during disruption caused by a pandemic, research has found. from Infosys. Speed ​​is ranked as the number one reason financial services companies migrate to cloud-based services in 2020 and into the future, according to the 2021 Infosys Cloud Radar survey.

“Tech-savvy banks are finding that accelerating and automating traditional processes gives them a vital competitive advantage. Automation and speed can benefit financial services companies in the back office and in customer-facing use cases, ”said Ajay Vij of Infosys.

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Infosys began with the rapid deployment of ServiceNow’s core service management capability to connect vendor ecosystems to ServiceNow. ServiceNow is connected to all vendor platforms that aggregate information to keep TSB informed, proactive and making informed decisions faster so the business operates seamlessly and without disruption. The Infosys Enterprise Service Management Café is an accelerator to speed up ServiceNow implementations by 40% in most customer situations. It contains over 70 out-of-the-box configurations that have been developed and refined by over five hundred customer deployments across many industries. Infosys has a Center of Excellence with a team dedicated to improving the best practices benchmark. With reproducible best practices, Infosys uses this solution to prevent each customer from reinventing the wheel every time.

How’s the TSB doing now?

TSB says it now has a very stable cloud-based ‘manage the bank’ platform that is available 24/7 to customers, directly correlating to how customers perceive the service. form the bank. The bank manages a large volume of transactions via the new platform. For example, there have been two thousand changes and over a hundred management activities and associated automated and orchestrated workflows.

The processes in place allow management to make informed decisions and plan future service management interventions. At the height of the Covid-19 crisis, the service management platform and processes were available to users without any disruption.

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Internally, the business could complete projects faster and spend more time on productive work through automation. IT now knows which issue could impact which business area if it is not resolved within a specified time frame with platform integration. Many IT processes that previously took days or even weeks to perform manually are now automated.

Externally, customer service queries are resolved faster thanks to the highly integrated and connected data flow and customer service availability.

What is the next?

Infosys is working with TSB to automate more use cases such as risk and compliance, operational resilience and asset management. As it has done with other banks, Infosys will integrate security tools to enable IT, security and business to seamlessly collaborate on security breaches and vulnerabilities.

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Operational resilience is always a concern for banks and regulators. Banks need to effectively manage new risks such as digital technologies, cybersecurity and data security, third party risks, pandemics and even climate change. Robotic process automation (RPA) can protect against human error or potential fraud. RPA can automate traditionally manual processes and make them more efficient.

TSB now appears to have a top-notch infrastructure with ServiceNow at the center. I think the architecture makes them well positioned for a safer and much faster transition to the cloud.

Note: The editors and editors of Moor Insights & Strategy may have contributed to this article.

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