乐鱼（Leyu）体育官网 takes bank on digital transformation journey
乐鱼（Leyu）体育官网 helps create a trusted cloud strategy, embedding risk and compliance.
Client
Major national bank
Industry
Financial services
Primary goal
Upgrade IT infrastructure to boost digital transformation
Technology
Leading financial services technology solution
For more than 170 years, a major 乐鱼（Leyu）体育官网 banking client has been serving the financial needs of customers ranging from individuals and small businesses to corporations and government enterprises. In fact, more than 12 million customers use the bank for lending, credit cards, cash management, and investment services. To support a move to a digital-focused, thin-branch strategy outside its existing branch network, the bank planned to modernize and transform its legacy mainframe infrastructure to a cloud-native digital banking solution.
KEY OUTCOMES
Making a measurable difference
- A new digital infrastructure to help the bank better serve its growing customer base听
- Improved customer experience delivered through the optimization of customer personas and customer journeys
- Top-tier compliance embeds process automation and clear risk linkages for smooth adaptation to future business cases
Client transformation journey
Click on each part of the journey to learn more about our client鈥檚 transformation.
Success in a large-scale transformation initiative requires careful planning and strong cross-functional collaboration. Our team of 乐鱼（Leyu）体育官网 professionals collaborated with the client and vendor to establish a deep understanding of their IT and business objectives to drive strategic insights. Together, we guided the successful build of a new digital infrastructure that prioritized customer experience and embedding compliance by design principles for sustainability.
Chad Polen
Partner, Advisory, FS Risk, Regulatory & Compliance, 乐鱼（Leyu）体育官网 LLP
How 乐鱼（Leyu）体育官网 guided its banking customer through a complete digital overhaul
乐鱼（Leyu）体育官网鈥檚 banking client faced a formidable task. It sought to completely upgrade and modernize its IT core and business operations to meet future and unanticipated needs while utilizing legacy data鈥攁ll while embedding compliance obligations in a way that supports the bank鈥檚 digital transformation. To achieve this, 乐鱼（Leyu）体育官网 guided the bank through the development and implementation of an agile compliance workstream strategy based on our understanding of regulatory requirements. This helps create trust among the bank鈥檚 many stakeholders: customers, regulators, employees, and investors.听Along the way, 乐鱼（Leyu）体育官网 helped its banking customer learn four key lessons.
1.听Strategy is key
乐鱼（Leyu）体育官网 helped the client gain a deeper understanding of what its IT and business strategy should be going forward, as it expanded and took on new lines of business. This included helping them pick the right technology and platforms, articulating the desired path forward for the bank, and how to scale up new initiatives. This helped ensure the bank鈥檚 new digital infrastructure was designed for the听right tasks.
2. Execution takes planning
It takes careful planning to overhaul the way a large bank does business. 乐鱼（Leyu）体育官网 collaborated with its client to select an IT vendor, embed consultant teams in the appropriate business units, determine what processes could be automated versus what required a human touch, and help ensure that the bank鈥檚 new platform met its appetite for risk as well as all听compliance needs.
3. Collaboration makes the difference
Tasks such as digitally transforming a large national bank require considerable resources. One company typically cannot do it all, and 乐鱼（Leyu）体育官网 is no exception. We worked with a wide range of partners for our banking client. We cooperate with them because it is good business鈥攁nd the client听appreciates it.听
4. Not everything claiming to be new really is
As part of 乐鱼（Leyu）体育官网鈥檚 process with its banking client, 乐鱼（Leyu）体育官网 looked closely at the technology providers who hoped to land the business. The list of these players is small, so making the right choice is important. 乐鱼（Leyu）体育官网 had developers open their code stack and walk through their process and how they deploy and maintain their solutions. One vendor claimed their code was new from the ground up, but 乐鱼（Leyu）体育官网 found code libraries that were some 20 years old. 乐鱼（Leyu）体育官网 developed a scorecard that the client could use to decide.
Turning insights into opportunities
KMPG Lighthouse, our Center of Excellence for Data, Analytics, and Artificial Intelligence (AI), combines the latest technologies and capabilities alongside our deep-rooted domain knowledge to accelerate innovation and drive speed and relevance to our clients鈥� businesses. It focuses on solving complex business issues with analytics, rather than taking a technology-first approach. And it supports ideas in emerging technologies, such as Internet of Things, blockchains, and AI.
Meet the team that made the difference for a bank seeking to boost digital transformation
Are you looking for a core modernization strategy that will help you keep pace with changing customer desires and increased competition? Reach out to us today.
Celeste Diana
Principal, Corporate Strategy, 乐鱼（Leyu）体育官网 US
Chad Polen
Partner, Advisory, Financial Services Risk, Regulatory & Compliance, 乐鱼（Leyu）体育官网 US
Mark Shank
Google Cloud Platform Leader, 乐鱼（Leyu）体育官网 US
Celeste Diana
Principal, Corporate Strategy, 乐鱼（Leyu）体育官网 US
Chad Polen
Partner, Advisory, Financial Services Risk, Regulatory & Compliance, 乐鱼（Leyu）体育官网 US
Mark Shank
Google Cloud Platform Leader, 乐鱼（Leyu）体育官网 US
Cyber Security transformation
See how we helped a financial services firm
Explore more
Service
Financial Services Risk, Regulatory and Compliance
乐鱼（Leyu）体育官网 brings innovative solutions that meet the unique risk and compliance demands of the financial services industry.
Service
Banking and consumer compliance
How do you respond appropriately to financial regulations while containing the costs of compliance?
Insight
Risk, Regulatory, and Compliance for Tech Companies
In an environment where user trust is critical to online platform success, a high-quality, sustainable risk and compliance program can become your strategic advantage.