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Connected Banking – Emerging Opportunities through Digital Innovation

The Connected Banking Report 2015.png“In recent years, a number of factors have severely challenged the traditional banking model – the financial crisis, growing regulatory pressure, increasing competition. The ROE of the banking sector in Europe has declined by over 15% in the pre-crisis period to less than 3% currently. What emerges is the urgent need to reorient the business model to optimize costs, recover margins, and find new revenue streams.”

 

The ‘Connected Banking Report 2015’, a study by The European House – Ambrosetti and HP Italy, defines why and how banks must transform.

The Innovation Agenda: Why does innovation matter?

HP & Aecus - The innovation agenda.jpgThe second question HP and Aecus explored in the Innovation Agenda report was ‘why does innovation matter?’

 

We were struck by the passion and intensity of the responses. For many—but not all, innovation is a matter of competitiveness, success, and survival. There is a sense of urgency and passion not often found in other business issues.

Study finds that back-office functions lag in driving innovation

mike donellean.jpgBy Mike Donnellan, BPS Sales Leader - EMEA, Hewlett Packard Enterprise

 

In the recent HP / Aecus Innovation Survey, a striking result was the lack of innovation emanating from Finance, HR, Payroll, and Procurement functions in many companies. The “availability of internal resources to implement” was the biggest challenge in realizing innovation in the enterprise.

 

Are the core back-office processes of Finance, HR, Payroll and Procurement doing enough to innovate? 

What are the roadblocks to innovation in these areas?

Don't just move your paper-based processes online

TK.jpgBy Teakaau Piho, Portfolio Leader, BPS Document Processing Services, Hewlett Packard Enterprise

 

Many organizations are investing in digitization, replacing paper-based processes with slick, new apps that can be accessed from laptops or mobile devices. But if you dig a little deeper, you may discover that although they've replaced the paper, the underlying processes remain the same. Instead of simply digitizing the same old processes, there are many opportunities to use technology to not only streamline but also transform those processes – to create a better customer experience, increase productivity, or reduce risk.

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