Intelligent CIO Africa Issue 39 | Page 53

CASE STUDY IT HAS BECOME VITAL FOR BANKS TO HAVE A STRONG TECHNOLOGY ARCHITECTURE IN PLACE TO PROVIDE A CUSTOMER EXPERIENCE. customer base with an increase of over 28%. • There was an increase in the number of new products that were introduced into the market. • Faster time to market for new products: Launching a new product and rolling it to the market takes just one week whereas it used to take a month previously. In addition, social media integration has contributed to faster roll out of products with fewer resources employed. • Increased revenues: UBA has seen an increase in revenue with the bank introducing contemporary value adding products and service offerings. www.intelligentcio.com • Faster customer service: With the advantage of a 360-degree view of the customer, the customer service time has dropped drastically by 67%. • Greater operational efficiency: The bank has witnessed immense operational benefits due to process optimisation. For instance, the time to open a new account has decreased by over 67%, while the cost of transaction across channels has reduced by 80%, post core transformation. • Greater agility: United Bank for Africa is now able to launch a new branch in a single day vis-à-vis four days it used to take earlier. • Achieving greater scalability: The transaction peak load capacity has now increased by over 25%. The average number of transactions processed in a day has also more than doubled since go live. • Optimisation of cost across channels: The unification of various touch points with a digital engagement platform has helped UBA better understand customer behaviour across segments, as well as their product and channel preferences. The upgraded Finacle solution helped them optimise channel usage and migrate low cost transactions to low cost channels. n INTELLIGENTCIO 53