Case Study
Digital banking transformation boosted sales by 127%, cut time-to-market by 90% for a global bank
CLIENT
The client is a global financial group headquartered in Spain, offering a diverse array of banking, investment, and financial services to more than 150 million individuals and businesses. Renowned for its commitment to innovation and digital transformation, the organization strives to deliver cutting-edge financial solutions and improve customer experiences worldwide.
CHALLENGE
Navigating fintech disruption—Required modernization of legacy systems and agile transformation for competitive digital banking
The client was struggling with significant industry disruption from emerging fintech challengers. Despite having the technology and talent to go digital, their rigid, siloed organizational structure and outdated operating model were slowing workflows, hindering innovation, and causing a disconnect between business and IT departments. These issues led to delays in time-to-market for essential software, applications, and products, leaving the bank unable to compete effectively in an increasingly competitive digital landscape. To address these challenges, they needed more than just a technological upgrade—they needed a fundamental organizational redesign for digital transformation.
TRANSFORMATION
Implementing organizational redesign for digital transformation to modernize legacy systems and enhance agility
UST provided the client with comprehensive digital banking transformation capabilities, enhancing remote banking operations and significantly improving the time-to-market for new products, applications, and software. To achieve this, UST implemented an organizational redesign for digital transformation, which involved modernizing the bank's legacy infrastructure and integrating AI-based data-driven decision-making. UST’s agile operating model allowed the bank to respond quickly to market changes and deliver exceptional digital banking services. This approach streamlined workflows, aligned visions, and facilitated the seamless integration of agile methodology in banking.
Using scalable digital solutions and improving remote banking operations, which streamlined processes and accelerated product delivery, UST's solution enabled the bank to reduce product development cycles, increase digital sales, achieve top customer satisfaction ratings, and position itself as a leader in digital banking innovation amidst fintech disruption.
IMPACT
Agile digital banking transformation spurred rapid innovation, boosted digital sales, and elevated customer satisfaction across global operations
UST's organizational redesign and agile methodologies were crucial to the overall success of the bank’s digital transformation, resulting in these significant benefits to the client:
- Reduced time-to-market by 90%—accelerating core software delivery from two years to just two to three months after implementing UST’s agile methodology and enabling seamless integration across seven national offices
- Increased digital sales by 127%—within seven months of transformation by implementing UST’s scalable solutions and enhanced remote banking operations
- Boosted customer satisfaction to 80%+—in the first transformational increment through data-driven decision-making and enhanced digital banking processes
- Improved operational efficiency and innovation—enabling the bank to assure a strong market position amidst fintech disruption in banking and effectively tackle future challenges
The client, now recognized as a leading innovator in digital banking, has successfully implemented new digital banking processes, resulting in substantial gains in digital sales, remote operations, and customer satisfaction.
Click here to discover the benefits of agile operating models and organizational redesign for digital transformation in banking.
RESOURCES
https://www.ust.com/en/insights/the-future-of-banking-lies-in-continuous-digital-transformation