user and role management, notification management, consent management, manual task management, digital signature management, document management, document generation… a private banking customer still needs the standard retail daily banking services)Īcross domains there are a lot of common processes and features, which can be shared, e.g. Many products and services offered to 1 customer segment are also offered to another (e.g. There are a lot of overlaps between products, services and customer segmentsĪ PFM/BFM tool requires services of all product domainsįor a professional or owner of an SME company, the split between his personal (retail or private banking segment) and professional banking (SME banking) is not that obvious An organization is never ideal and needs to take a number of constraints into account: It is however difficult to reorganize a bank without creating new silos or introducing other types of issues and inefficiencies. This division is reflected both at business and IT side and almost automatically leads to the creation of silos. (retail banking, private banking, SMEs and corporates). Most banks are however organized by product domain (daily banking, investments and lending) and by customer segmentation Product silos are put forward as one of the main blockages why incumbent banks are not able to (quickly) react to the changing customer expectations.Ĭustomers want solutions to their problems and do not want to be bothered about the internal organisation of their bank. It is often a synonym for bureaucratic processes and politics and in almost every article describing the threats of new innovative Fintech players on the banking industry, the strong bank Silo thinking is often frowned upon in the industry.
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