Westpac

Challenges of global bank’s commercial lending business faced in its operations across different business segments.

Firstly, the bank faced processing and maintenance inefficiencies that were caused by redundant systems and tools. This suggests that the bank was using multiple systems or tools that were performing the same or similar functions, leading to duplication of effort and a lack of efficiency. These inefficiencies could have led to higher costs and longer processing times, which could have negatively impacted the bank’s bottom line.

Secondly, regulatory pressure was a challenge for the commercial lending business. The regulatory environment for financial institutions is complex and constantly changing, and banks must comply with a range of rules and regulations in order to operate. The statement suggests that the bank faced pressure from regulators in relation to its commercial lending operations, which could have required the bank to invest in additional resources to ensure compliance.

Thirdly, data aggregation and reporting challenges were a problem for the bank. This was caused by severe fragmentation of systems, suggesting that the bank had multiple systems that were not well-integrated, leading to difficulties in aggregating data and producing accurate reports. This could have impacted the bank’s ability to make informed decisions and to identify areas for improvement.

Overall, the challenges faced by the global bank’s commercial lending business were diverse and complex, including processing and maintenance inefficiencies, regulatory pressure, and data aggregation and reporting challenges caused by system fragmentation. These challenges could have had a significant impact on the bank’s operations and profitability, and would have required a comprehensive solution in order to address them effectively.

Details of solution that iTroSys deployed to help address the challenges faced by the global bank’s commercial lending business.

Firstly, iTroSys conducted a three-month strategy assessment to define the current-state and target-state processes and technology, and to develop a roadmap of strategic and tactical initiatives. This assessment likely involved a deep dive into the bank’s current operations and technology, as well as an analysis of industry best practices and trends. Based on this assessment, iTroSys would have developed a roadmap of initiatives that would help the bank to achieve its desired target state, including both strategic and tactical initiatives.

Finally, iTroSys conducted an 18-month technology implementation to deploy the straight-through processing origination platform to be used by all commercial business segments and geographies. This involved the deployment of a new technology platform that would help to streamline the bank’s origination processes and enable straight-through processing, which would reduce processing times and improve efficiency. The platform would be used by all commercial business segments and geographies, suggesting that it was designed to support the bank’s global operations.

Overall, the solution deployed by iTroSys involved a strategic assessment to define the bank’s target state, a vendor assessment to select the best commercial lending platform vendor, and a technology implementation to deploy the new platform to all commercial business segments and geographies. This solution would have required a significant investment of time, resources, and expertise, but would have helped the bank to address its challenges and to achieve its strategic goals.

Benefits that the client received as a result of iTroSys’ engagement. The client had engaged iTroSys to help with its commercial origination and fulfillment operations.

The first benefit that iTroSys provided was a tactical roadmap to help the client realize the full range of benefits in its commercial origination and fulfillment operations within four years. This roadmap would have included specific recommendations for technology, processes, and training that the client could implement to achieve its strategic goals. The roadmap would have provided the client with a clear plan of action, allowing it to prioritize its efforts and allocate resources effectively.

The second benefit was the delivery of technology, processes, and training for the first release of the commercial origination platform to 1,200 end-users. This platform was delivered on time, which allowed the bank to meet aggressive regulatory requirements. This benefit is particularly important, as regulatory compliance is a critical aspect of the banking industry. The platform would have helped the bank to improve the efficiency of its commercial origination and fulfillment operations, which would have resulted in cost savings and improved customer service.

Overall, the benefits that iTroSys provided to the client include a tactical roadmap for achieving its strategic goals, as well as the delivery of a new technology platform that would help to improve the efficiency of its commercial origination and fulfillment operations. The platform was delivered on time, which helped the bank to meet regulatory requirements and avoid penalties. The benefits provided by iTroSys would have helped the bank to achieve its strategic goals and to improve its overall performance.