LONDON, August 8, 2011 /PRNewswire/ --
With an eye towards growth and value creation, financial services firms have looked for ways to streamline and integrate business processes in order to enhance their operations. Most of these firms recognise that making internal processes more efficient will result in driving a better experience for clients. Deutsche Bank has specifically leveraged Business Process Management (BPM) to produce this desired outcome.
In a recent interview, Abhijit Gupta, the Head of Client Access and Trade Financial Application Services in Global Banking IT at Deutsche Bank, talks about how his division has used a BPM approach to improve the client experience.
"We adopted a BPM approach because we recognize the importance of differentiating ourselves and maintaining a competitive edge in the market place. We are also focused on process innovation. It's no longer good enough to just innovate around product development alone. BPM allows us to improve efficiencies and have greater visibility into existing processes amongst other benefits, which all in turn enhance and simplify not only our internal processes but the client experience to boot."
Deutsche Bank took a slightly different approach with BPM in Global Banking IT. "Rather than develop a massive BPM program, we have instead identified the business case for specific programs and adopted BPM methodologies and principles to suit the need."
They created a joint program structure between the three units - Business, Operations and IT - with joint program directors and a single steering committee. "A BPM program designed to offer an improved and simplified experience for both our people and for our clients is always going to be complex in its delivery but it's enjoyed a good delivery record because all of the stakeholders across business, have been clear on their roles and responsibilities and could act them out transparently. This has enabled faster and more holistic decision making."
Deutsche Bank is also using BPM in conjunction with SOA. Abhijit thinks that "SOA and BPM work hand in hand. SOA services are intended to be reused, but have no knowledge of the business context, which is provided instead by processes enabled by BPM. They can each work in isolation to a certain extent, but to get the maximum benefit of enhanced agility, it is important to leverage their strengths collectively."
The full interview with Abhijit Gupta is available on the website of the Business Process Excellence for Financial Services Exchange: http://bit.ly/oyJOEu
Business Process Management will also be discussed at the Business Process Excellence for Financial Services Exchange taking place 19-20 September 2011 in the Hilton Tower Bridge in London. For more information about the event visit http://bit.ly/nDM3Lo
Note to editors: for further information about the Business Process Excellence for Financial Services Exchange see: http://bit.ly/nDM3Lo
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