Case Study
How an agile cultural transformation accelerated app development at an Australian bank
CLIENT
Based in Australia, this global financial services company offers asset management, retail and business banking, wealth management, commodities trading, and a range of additional services in more than 30 markets around the word. The company employs approximately 20,000 people and manages more than $A900 billion in assets.
CHALLENGE
Breaking down silos to create organizational change
Our client had traditionally been slow with releasing new services, primarily due to complexities around regulations and compliance. Waiting months for approvals meant that they missed opportunities and ran the risk of launching outdated products. Looking to launch a mobile banking app, our client needed UST to lead change from within and increase time to market, while minimizing risk and overcoming internal silos.
TRANSFORMATION
A nimble approach to agile transformation
As our client’s agile transformation leader, we recognized that launching a next-gen banking app began with an internal reset. We began with a cultural transformation that optimized their team structure and brought cross-functional groups together. For the first time in the company’s history, teams including technology, business, legal, compliance, and risk were united with a common vision.
Our banking and digital roadmaps touched thousands of people across multiple divisions. We reinforced the agile operating model with visionary coaches and customized trainings. We created nimble, innovative approaches that brought technical delivery teams together, building agile practices and improving operational efficiency.
IMPACT
Innovating the customer experience from the inside, out
The digital transformation journey enabled our client to transform its digital banking services and adapt to customer and market feedback in real-time.
In order to accelerate time to market, our execution embraced the minimum viable product (MVP) approach, allowing our client to enroll customers in its beta program to receive feedback and iterate quickly. The rollout and delivery lifecycle was accelerated with continuous deployment, test automation, and the use of open source tools, like Cassandra and Spark. API data layers were created between legacy and core banking platforms to streamline data exchanges and build new services.
The accelerated mobile app launch resulted in a dramatic increase in our client’s customer base within one year and drove enhanced operational efficiency.
- First mobile banking app delivered in 3 months
- Client base increased by 35% in the first year to 1.1 million customers in Australia
- Enhanced operational efficiency by 50%
With the right team having access to the right tools and industry knowledge, it is possible to achieve great things. Learn more about the expertise and resources that helped us achieve success on this project.
RESOURCES
https://www.ust.com/en/what-we-do/digital-transformation
https://www.ust.com/en/what-we-do/strategy-implementation-operations