Operational Excellence in Banking

Simplify Further, Engineer Smarter and Automate at Scale

Regardless of the industry, the “operations” domain correlates to an institution’s “productivity.” Banks across Middle East and Africa working hard to excel at operations. Research by Digitopia and Union of Arab Banks (UAB) suggests that operations run mostly smoothly; however, further integration and simplification are steps ahead.

Operations is a complex domain, so it makes sense to break it down to components for better analyses and management. Below are four interrelated components of operations from a banking perspective.

Foundation: A solid foundation is a board-level thinking about how to prepare for the impact new technologies will have on the bank’s operations. It requires having a clear direction aligned with company goals. Moreover, the direction should be led by a strong leadership and of course supplemented with the necessary resources, including talent, budget etc.

Channels: Becoming omni-channel requires designing processes across channels with customer experience as the focal point. To deliver that experience, companies must identify and track certain quality metrics, integrate channel flows for seamless journeys, and automate processes to the highest degree possible. Therefore, the channels component feeds into an “enhanced customer service.”

Processes: A frictionless and harmonious functioning of the whole mechanism requires focusing on processes. This means increasing automation and the use of digital labour and intelligent systems across core services, support functions and internal processes. It also requires establishing modern and secure IT systems that enable integration with third parties to support open banking, fintech and insurtech ecosystems. All in all, the processes component serves “increased efficiency, speed and diversity of services.”

Analytics: Analytics capabilities refer to how operational data is captured, organised, analysed, and used for better operations. Leveraging real-time data, machine learning, and artificial intelligence to make predictive and preventive decisions

Read more here:




We are changing the way consulting is delivered through our Digital Maturity Index Platform by measuring, baselining, and benchmarking your digital maturity.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

The Cool Factor: How Tesla changed the public’s perception of electric cars [Video]

News roundup: Transatlantic Internet, autonomous pizza delivery, distressed cities

Innovate or Leave

Innovate or Leave

What Is PRM? You’re Asking the Wrong Question…

How to Assess the Health of a Fast-Growing, Money-Losing Business

A stack of wooden blocks that may become unbalanced

Tesla’s Bet on Self Driving Cars

The galloping herd of European unicorns

Charles Sampson talks getting a business off the ground and Ashley Chartering Limited

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Digitopia Global Consulting

Digitopia Global Consulting

We are changing the way consulting is delivered through our Digital Maturity Index Platform by measuring, baselining, and benchmarking your digital maturity.

More from Medium

3 Reasons Intelligent Automation Is the Future of Finance

How to Orchestrate a Successful Innovation Ecosystem

What is Industry 4.0? | FB Consultancy

Customer Success at Strategic IT Sourcing, another league

Customer Success at Strategic IT Sourcing, central to Digital Business Transformation