How To Successfully Implement New Technology

How To Successfully Implement New Technology

by Nishadi Ranasinghe January 15, 2020

Technology Consulting: It’s never a standard configuration!

The current banking landscape is focused on bringing some form of governance and regulation to an industry that, for the most part, was thought incorrectly to be robust and reliable. Government regulators are constantly requesting more and more reporting and transparency over what business is being conducted. What does this mean for banks?

More infrastructure to support this, and with less money to invest in people, the solution is technology.

Today most tier 1 banks have turned to ‘out of the box’ solutions to help them achieve their target operating models. But with bankers wanting to bank, and technologists wanting to make their solutions better to attract more customers, who is focusing on the implementation?

In banking, technologies are bought based on a promise. Rarely does technology do everything it needs to, mainly because one size never usually fits all. Processes are never the same, and as we know, company cultures, one of the most important factors to consider, can be vastly different.

What happens if you buy a technology solution whose implementation is funded by a program worth millions of dollars? The pressure is on to demonstrate tangible efficiencies gained. Then starts the blame game: for a vendor,it is the bank that is archaic and unmoving; for the bank, it’s the vendor who is not listening or is not flexible enough.

The result is a clash of companies, cultures, people, and objectives where no one wins.

At Eleven Consulting, we recognize the inevitable priority mismatches between vendors and aim to be the facilitators of successful implementation. We take politics out of the delivery and strive to is create strong self-governing teams and change strategies to ensure that bankers can do what they do best, and technologists can do what they do best. Leave us to the rest.

Having worked successfully in change programs for over 10 years, and with domain expertise in creating operational efficiencies in financial services, we can help your teams form collaborative hives focused on delivering real benefits.

If you want to see your project succeed contact us at- contact@elevenco.co.uk

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