Four factors to deliver a successful investment banking digital transformation

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Management within investment banking and capital markets institutions are increasingly demanding user-centric applications that promote collaboration, data aggregation to generate insights to better direct client engagement, and tools to simplify managing their client relationships. Salesforce and Financial Services Cloud have generated significant momentum by solving for many of the challenges faced by boutique and bulge-bracket institutions alike.

Investment banking digital transformation

The unprecedented outbreak of the novel coronavirus and subsequent social distancing precautions taken by businesses across the globe has put increased pressure on the digital tools used to maintain operations across remote, work-from-home settings. For many investment banking and capital markets institutions, this challenge only builds on the fierce competition for deal flow and fee and margin compression they face while also meeting heightened client expectations.

Whether your institution was considering a front-office digital transformation before the impact of the coronavirus, is currently in the middle of a multiyear program, or is hoping to improve adoption for existing applications, delivering client impact remains a priority.

Explore four factors critical to delivering a successful transformation

Disciplined program management

Governance tactics to help any program run more effectively:

  • Identify a chief product owner
  • Stand up an advisory council
  • Start a design authority board composed of technical subject-matter experts
  • Host predictable and recurring Agile ceremonies
  • Create an innovation-sensing and rapid prototyping workstream

Clear business definition

Components of effective planning phases:

  • An accelerator-led development approach that tunes Salesforce’s Financial Services Cloud features to investment banking best practices
  • A life-changing banker journey that vividly illustrates how critical tasks become more collaborative and data-driven while the recurring, mundane tasks are automated away
  • A business case that quantifies expected benefits and costs to sustain investment

Effective technology delivery

Challenges to anticipate include, but are not limited to:

  • Managing visibility and entitlement access to deals and records
  • Determining the appropriate integration tool set for your organization
  • Delivering comprehensive visualizations of all available data
  • Managing the wealth of contact and relationship data
  • Navigating Salesforce Mobile app

Readiness for ownership

The following techniques can deliver results:

  • Periodic risk assessments to identify gaps in awareness 
  • Use an idea collaboration platform to source features and gauge audience sentiment 
  • Understand business outcomes valued by COOs
  • Interview group heads and provide prepackaged talking points 
  • Utilize Salesforce’s in-app guidance
  • Maintain two-way engagement

Get in touch

Dounia Senawi
Principal | Deloitte Consulting LLP
Brad Mroz
Manager | Deloitte Consulting LLP
Ryan Esposto
Specialist leader | Deloitte Consulting LLP

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