Business Operations in financial institutions

Transforming operations

Back and Middle offices within financial institutions are being fundamentally transformed to cope with changing client expectations. Customers demand better and faster processing.

Our experts also support initiatives to reinvent the workplace, giving due attention to the development of future skills.

Besides adopting a transversal view on your organization by creating end-to-end transparency for your business processes, we work towards installing a digital mindset that will percolate into all processes. Processes that have been optimized can be developed straight through towards RPA.

TriFinance will also assist operations departments by

• assessing and implementing outsourcing or nearshoring programs;
• fostering flexibility in the IT Legacy through the implementation of new core banking/insurance engines and operating systems;
• developing open platform models and real-time capabilities;
• reinforcing accountability concerning data governance.

The New Normal in Operations

Here’s how we create value for Financial Services companies on the business operations level:

New ways of working
Activities in Back and Middle offices have evolved fundamentally over the last few years, requiring changes in the day-to-day organization. Building upon our strong expertise in the implementation of new Target Operating Models, we support organizations in defining and implementing a new way of working which fits with the new normal. Our people-oriented approach significantly facilitates the transformation process and helps to get the buy-in of the people involved.

New core systems
Lots of financial institutions still have to cope with a ‘spaghetti’ of systems that builds the organization’s IT legacy. We assist financial institutions in selecting and implementing the flexible IT systems and solutions that are required.

Transforming Operations processes
To cope with these challenges, operations processes must be reviewed and redesigned. Outsourcing can be an option but, depending on your strategy, process redesign can be considered. We assist in developing business cases. We implement the selected optimization option by adapting the processes, whilst including adequate operational risk mitigation measures.

Accurate & automated reports
Reporting is a key activity within Back & Middle Offices. We assist you in installing solid and automated frameworks that comply with regulatory requirements, using state-of-the-art effective tooling. In-depth reviews of the reporting content will ensure the accuracy of all reports.

Higher productivity. A better time to market
We assess any opportunity provided by new emerging technologies, such as Robotics Process Automation, to reduce the lead time of transactions while further improving, strengthening and securing the whole chain.