DIGITAL CASE STUDIES 1
Digital Banking with an Internet-Only Bank Digital banking is at a tipping point, our clients are looking for support to create new digitally disruptive services while complying to regulatory standards. Project Management, strategy and business consulting Process and compliance evaluation of new digital bank platform including fraud detection and AML Customer focused business model of mobile based internetonly banking With the regulatory push of open technology, how can my organization retain market share whilst complying across jurisdictions? Successful launch of the client s new digital platform, enabling entrance to a new market with high adoption rates. (1.5m new customers in 7 days ) 2
Experience Factory with a Global Bank Customer expectations are constantly rising and financial institutes need to leverage technology and quickly react to maintain revenue, engagement, efficiency and effectiveness. Setup and program management of sand-boxed innovation environment Agile/scrum coaching and facilitation of factory Experience design and rapid prototyping of selected MVPs Customer journey mapping, customer analysis and user testing of POC How can I efficiently and successfully test digital propositions to ensure we are developing products that bring value to our customers? Developed and delivered prototyped and tested products ready for production and integration while uplifting the organizations innovation capabilities and application of agile methodology. The client recently launched a press event showcasing delivered benefits of Digital Factory and the second wave of MVPs 3
Customer Experience Transformation with a Global Insurance Company Customer-centric design thinking, requiring reiterative customer and business user validation of the target designs Analyzed and proposed improved customer journeys aligned with digital eco- system, where customers and business users apply an intelligent use of data and technology Standardized operating model to support a streamlined automated business process How do I quickly identify and activate new business models and strategies that bring returns to the business whilst meeting rising demands of my customers Developed a vision for the target operations using customer journey maps by applying innovation in the market and greater leverage of the client s digital ecosystem 4
Digital Delivery Security & Governance with a Global Bank As financial organization and FinTech continue to build out new products, it is essential to identify new and existing risks and implement compliance controls in the product development lifecycle as well as performance monitoring. Analyze, design and implement governance and process controls. Provide real time, event driven digitized workflows, approvals, execution and automation capabilities Evolve existing process, risk, control libraries as well as a common taxonomy to accommodate for new technologies and business models Delivered Target Operating Model focused on process documentation, risk evaluation, security implementation of an agile delivery lifecycle More security and control and gain greater visibility in overall application and project risk management With the growing portfolio of digital products, how do I effectively manage risk and compliance into an agile development pipeline? The bank has reached out for continued support on implementing the Target Operating Model 5
Management Reporting with a Global Bank We leverage on data with focus on user to globally transform the way management information is used and provisioned through out an organization Analyzed and prioritized performance metrics based on Collated, standardized and provided a data structure that is consumable for modern Apps on a timely manner Designed and developed customizable dashboard across 3 business segment covering 6 countries Can I organize and display my data in a way that aids my decision making process across my various departments and markets? Gather deeper insights to make effective business decisions efficiently Updated, consolidated and standardize source of information Information made accessible and easily digestible 6
Robotics Process Automation with a Multinational Bank Automation-driven capacity improvements will provide the business with a more proactive and higher touch-interaction services Design, development and on-boarding to production and provide real time, event driven digitized workflows, approvals, execution and automation capabilities Process assessment and prioritization and solution design Pre and post-automation review of existing controls How can we automate a series of internal business processes whilst accelerating the digital transformation agenda? Automation-driven capacity improvements will provide the business with a more proactive and higher touch service Additional capacity of up to 24 FTE, as well as related productivity improvements for the existing team 7
Rapid Application Development with a Global Insurance Company Rapidly enabling innovative solutions leveraging on our platforms, knowledge and relationships to deliver products, consulting and training with a focus on quality and rapid product delivery DevOps & Continuous Integration setup for scalable production API based service delivery with multiple user interfaces from a collective code base Agile project with Behavioral Driven Development at the core of all development How do I efficiently create digital assets that are not inhibited by restriction of legacy systems? Demonstrated Rapid application delivery enabling Scaled Agile processes with emphasis on strong audit and quality measures Delivered 2 Apps with architecture and code base that can leveraged across other development teams 8
Robotic Process Automation with a Global Life Insurance Group Improved operational efficiencies and cost reduction using Robotic Process Automation Perform process assessment (complexity, business case) Document, configure, and test the defined process flow (steps and click streams) Design and develop the process using RPA tool Showcase value that can be driven by automating processes What opportunity areas have many clients gone after as low-hanging fruit and where do you see the next important ones to look out for? Completed an RPA PoC in 3 days of development time Assisted the clients to better understand RPA and applicable business case Improved operation functions and reduction in manual production cost 9
Robotics (Compliance) The Robotics Process Automation (RPA) is a virtual workforce that operates unattended to perform tasks across and process with multiple systems and functions in a repetitive, audited and controlled manner. There are multiple possibilities for using RPA for Compliance functions with the potential for reuse Transaction monitored related quality checking processes can be automated through the use of robotics. Robots deliver repetitive, deterministic, high volume tasks efficiently. Design and automation of the KYC process using robotics Automatically identified over 20% of the cases that fail quality checks Improved case allocation leading to a ~15% productivity improvement Improved cost effectiveness and allow human resources to focus in more critical parts of the process 10
Digital Audit (Assurance) Innovating our audit to deliver quality and value with seamless technology integration. Integrating digital capabilities internally to optimize our organization is as crucial as accelerating our clients agenda EY Canvas, our global online audit platform lies at the heart of the audit EY Helix, our suite of data analytics, are embedded in our audit process and help us provide deeper insights EY Atlas provides our auditors and our clients with the latest accounting and auditing content One globally seamless audit delivered by teams linked through one global methodology and one online global audit platform Better risks identification and response, allowing findings to be reported promptly Centralized planning and monitoring of the global audit, providing enhanced capability to the primary team Audit approach quick customization 11
Digital Valuation (TAS) Value digital companies, assessing the value of IP, the maturity of the company to pay market price when our clients are looking to refresh their business strategy, seeking a model for investing in digital capabilities and assess where the IP resides. Help clients to identify the sources and economic impacts of digital disruption for clients Help clients to build a model for investing in digital capability, new revenue sources and operating model changes Help clients to assess and identify where the IP resides management, technology or data. Protect digital investments by determining the correct valuation of target businesses reducing the risk of overpaying. Balancing this with the market demands and intense competition for these companies to achieve client s digital objective and ambition Ground investments by identifying the value of IP and the size of the potential market 12
I-KYE,PX Culture & Analytics (PAS) Using Analytics to forecast and predict clients workforce engagement, motivations, behaviors and work patterns to ensure success in an organizations initiatives and is critical to all of these initiatives and support the management of risk and define the success. KYE suite of tools developed by EY can combine the latest analytical thinking with pre-existing data to allow analysts, PX and Executives to make better informed decisions about their employees Behavioral characteristics are detected using advanced analytics across a number of structured and unstructured data sources Better understand the actual behaviors, interactions and work patterns of your employees, beyond the insights provided by traditional periodic staff engagement surveys. Gain a more holistic understanding of primary risks and risk indicators in the areas of people, customers and operations. Create a meaningful cultural dashboard and set of lead indicators that can guide investment and action in talent acquisition and development, performance management, design and allocation of work and workplace design. 13
APPENDIX KEY DIGITAL NARRATIVES 14
A look at Sector Narrative Examples Banking - Digital Transactions NARRATIVE The client is a leading retail bank in its market. The government is in the process of building a national payments infrastructure which will enable low-cost, real-time payments for the end consumers. The government may also allow non-bank players to participate in the retail payments ecosystem, which will drive competition and have adverse impact on the payments economics of the incumbents. GOAL Minimize the revenues to be lost due to the new regulation while maximizing revenues from new business opportunities Business Perspective Devise a strategic response that will minimize the adverse revenue impact in the short term, and explore new business opportunities and enablers (organic / inorganic) to leverage the change in the regulation and competitive landscape DIGITAL DRIVER INDEX Sample Additional revenue from existing clients by leveraging new channel, data analytics, etc. Revenues from new clients by leveraging new channels/products (incl. x-selling existing products/services) Digital Perspective Sensing the change earlier than other player will put the client in better position to get prepared in advance on how to jump on and monetize digital disruption 15
A look at Sector Narrative Examples Insurance - Ecosystem NARRATIVE A global insurer with a significant portfolio in ASEAN is looking to build an ecosystem of partnerships to build new distribution channels. It also seeks to offer rewards for its customers, and to utilize technology partnerships. Its marketing ambitions are hindered by the difficulty it faces integrating its legacy systems. GOAL To enable rapid and cost effective delivery of optimized digital customer experiences, including internal and partner solutions, into a single customer focused ecosystem. DIGITAL DRIVER INDEX Sample API services published to and consumed from external partners (API Gateway) Increased frequency of new digital customer journey releases (Microservices) Cost and time reductions in process fulfillment (RPA) Business Perspective Rapidly leverage partnerships to remain competitive in an increasingly diverse marketplace and focus on customer experience Better leverage Intellectual Property (IP) and partnerships to reduce acquisition costs and increase customer lifetime value (CLV) Digital Perspective Enabling open digital services to customers and partners to provide seamless customer proposition Reduced dependency on extensive IT projects Highly rapid process automation and leveraging Robotic Process Automation (RPA) 16
A look at Sector Narrative Examples Insurance - Agent Performance Improvement NARRATIVE A market leading life insurer, whose main channel is its tied agency (70%+ of net new premium), has been losing market share to relatively new entrants whose average agent productivity is far higher than the client. They are interested in data analytics to develop insights into agent performance and link them into actionable changes in its sales management approach. GOAL Increase agent performance/sales Business Perspective Agent performance/sales is highly correlated to the number of activities agent executes for customer (e.g. meeting, quotation, calling, etc.) within time frame given, therefore, helping agent to do more activities is a key to develop solutions. DIGITAL DRIVER INDEX Sample Number of incumbent customers whose data available for agents Number of sales leads generated and delivered to agent via analytics Number of customers accessible through digital channel Client facing time of agent reduced by digital process Digital Perspective With digital feature and capabilities, we can help agent execute more activities in different way 17
Contact Digital Natives to learn more or get involved digitalnatives@sg.ey.com 18