Industry sign banking pennsylvania rfp fast
in my team in particular we'll give a little context of Citizens Financial Group and what we do what with industry verticals we work in I mean we're gonna go through some of our challenges we're gonna go through our approach some of the solutions and I think most critical to us here some of those outcomes I'm gonna try to move through the material pretty quick because I think you know questions and answers is a critical component of what we're gonna do today I mean I really want to address your concerns because different audiences have different experience they're in a different place in their journey so I really want to tailor this for you so introduction this is me if you can't tell so I've got about 18 years of experience you know I spanned government healthcare and most recently finance so the past seven or eight years I've worked for a Citizens Financial Group and I sit in the operations area which is one critical component right because these low code no code types of solutions my business enable team sitting in operations can deliver these things faster more efficiently than our traditional technology teams and really I can drive my own prioritization there throughout my 18 years I've always had a focus in the technology space right and it's either from an analysis standpoint or a delivery standpoint but it's always doing things better faster stronger through all of these organizations you know there's three main drivers again that us being in operations we drive our own priorities number one number two it gives us an opportunity to self-fund what we're delivering right I bpms vizag ii in particular our PA is a critical component of what we have we are paying for these things by delivering efficiency to the business and that doesn't mean we're eliminating our human capital right we're retaining our subject matter expertise we're retaining our people but we are growing our business right and that's how we are funding these project is we are delivering it in operations we are prioritizing and we are putting it out there so let's talk a little bit about citizens so we were started in about 1828 you know we have to industry verticals we had work in commercial and consumer space and we really have a lot of services in both of those verticals you know our guiding principle for a Citizens Bank is that when our customers succeed we succeed right and that's a in evolution so we grow through delivering for our customers word-of-mouth we build up business and that's how we operate we have a credo in our credo is doing the right things for customers shareholders colleagues in the commune the community and there's no mystery to why customers is number one they're right it's who we service it's who we deliver for and it really defines our success as an organization and helps drive growth so just to you know give you some context we are a large regional bank we are striving to become a large national bank but today we operate in 11 states we have about a hundred and fifty five billion dollars in assets just over 1,100 different branches across the East Coast and we have about 18,000 colleagues originally we were a part of the Royal Bank of Scotland in recently Citizens Financial Group broke away and went public so now we are an independent publicly traded company you know what makes us different what differentiates us in the marketplace is really what I've touched on is the customer obsession right other banks other organizations I think are deploying technologies out there to drive revenue to drive growth and to reduce the workforce right and that's how they're seeing the return on investment and we have a slightly different strategy which I think I touched on a little bit so what are the challenges right so number one implement RPA this is our primary driver of putting money back in the business doing things better faster stronger more time in the day and we can support more business and I put that up there as a challenge because we found that the primary roadblock to delivering our PA is the data coming into the bank right and that is where Bazaar is a key player right we plan on using Bazaar ji to digitize that data to drive enable men and take a look back at the pipeline of opportunity that we couldn't deliver on because of the different varieties in ways it comes into the bank there's a very good reason for that right we want to support our customers we want to be flexible to their requests we don't want to pigeonhole them into requesting only these services and in only these channels we want to open it up and have it flexible for them but really have it standardized when it comes into the bank so that we can deploy our technologies the way we run our operations today and I'm sure some of you can relate we don't have a unified formalized workflow tool if you ask other people in the organization they'll say we're a pega shop from my perspective in commercial space we are managing the workflow through access databases visual basicnet applications right these homegrown user developed applications and we all know the challenge is there right we we have different metrics we've got different formats the the senior leadership team who's looking across the organization is not seeing consistency in reporting and in seeing consistency right and this is where Bazaar is really going to help us as well we have a lot of business even in the commercial space we offer a lot of products all of those are in unique silos right and there's not a lot of cross visibility between those right in kind of the buzz the buzz around the industry today is that 360 degree view of a customer right not only historically or what their needs may be but really up to the second information when they request services from us or a small business starts up they're requesting five or ten different products sometimes up to 20 or 30 different products right and how do we give them that complete view of where each of those products is and how do we make sure that they know that we don't need anything else from them we've got everything we need we're set to go we are delivering in that constant communication and feedback loop and servicing that customer so what is the approach right there's a couple things here and I and I really want to say that Bazaar in in catalyst to me really resonates right we are a little petri dish of action all right we get inputs from the customer we've got a dis flurry of activity that happens and we're trying to deliver where I besakih is gonna be the catalyst in that it is gonna speed it up it's gonna allow us to get the information to process that information much faster than we do today in just a small example you know we depend a lot on overnight cycles of our existing legacy systems to feed us data on how to take the next action right so if we onboard a new customer to our lending platform we wait 24 hours and a new customer shows up on a report and it's gonna drive some activity right bozo Gia's gonna instantaneously drive that activity same day you know really digitize the data standardize the inputs and the endgame here is to have consistent outputs to deliver for each of our customers in a similar way so they know what to expect and really you know the number one thing I really like to stress is this cultural transformation right because we're changing the way we do business it makes people nervous it makes operations people a little nervous when robots come in and potentially do a part of their job it makes our formalized technology teams a little nervous right those are the people we used to depend on to deliver for us and if we have low code no code solutions that the business line is driving the business line is developing you know where does that leave technology and they've got these kind of questions you know so we've taken some approaches there really we try to personalize what we're doing right so the main focus we have is an RPA vizag ii is definitely where we're going and what we're implementing now but just some examples of how we personalize our PA right we've we've got framed pictures of all our robots that do processes today right that hang on the walls and people can see them right we haven't named the robot contest for who gives us the best opportunity to automate who saves the most time for the customer removes these pain points they get to name the robot right and no matter how goofy it is and what names they come up with we so we're supportive of that if you take a look at our organizational chart there are robots within that organizational chart you know we've really created a confluence of robots in people and not a conflict of robots and people and it comes down to a couple things right it's about honest communication it's about what does that future landscape mean in what skills do our current workforce need to enhance retain or focus on so that our digital workforce is more efficient more valuable and continues to be a part of our growth in the organization so really you know the we I think I went back a slide here alright so what are the solutions number one like we talked about where I enable the business not IT to drive the projects and this is from a couple different points of view right let us prioritize it right if technology prioritizes that they're gonna look at ROI they're gonna look at metrics and drivers I want to be able to deliver for the customer and I want to be able to deliver from a couple different aspects I might want to implement basashi and RPA to mitigate risk right and there's no real ROI to risk mitigation it improves the customer experience it puts us in better light with our regulators in things like that but is there really money associated with it right it allows me to apply my own value drivers to how we're implementing this technology we're using vizag II to orchestrate that layer of data coming into the bank right and again that's gonna optimize end-to-end processes in particular in the short term we're looking at commercial lending in the commercial space but we have quite a few products that we plan on long term deploying across all of that commercial space in creating that 360 degree view of customer information right basashi is a key player in that in human capital as a key player in that so I'm gonna talk a little bit about one of the teams we spun up to help facilitate this 360 degree view and a concierge team we made but using Bazaar they're gonna have all of that information and data at their fingertips all right so what are some of our outcomes you know RPA like I said is our primary driver of yesterday to drive efficiency make our business better faster stronger and deliver for our customer today we've integrated our PA in the commercial space with over 40 different systems we've delivered about 40 FTE worth of digital workforce out there and by the end of the year that'll be 64 full-time employees worth of work being done through our PA if you look at our commercial lending platform 50% of that portfolio is fully managed by robots and fully managed means the onboarding the servicing the closing of that loan and releasing of collateral and payments being applied to that loan principal and interest payments if you look at the portfolio of how many loans were touched by a robot it's between 70 and 80 percent of all of those loans at some point in time have been touched by a robot either through one of those different areas through onboarding mostly servicing because that's really where there's a lot of work to be done and we've relieved the biggest pain point of our customers from a commercial lending standpoint that's when they pay off the loan right we're holding collateral right we make loans in the hundreds of millions and sometimes up into the billions of dollars so if they pay off the loan and close the loan and it takes us 30 days to release a billion dollars in collateral people get a little frustrated right and they might not be willing to do business with with us again and that's really a huge huge pain point that we've delivered here let's talk a little bit about the onboarding process so they I did a panel recently we touched upon this use case but you know it took 59 days on average to onboard a new customer in the commercial space 59 days to two months of time you know this is frustrating for customers colleagues and it was part of our key strategy is how do we reduce that time right and there's a lot of levers we pulled some risk levers we got a little leeway from the risk people on the amount of QC you know we're within our regulatory framework but we looked at some of the systems that required triple checks and quadruple checks so we pulled some risk levers we looked a little bit at the process the way people do it and we made a couple tweaks there right those two levers that we pulled reduced that timeframe from 59 days into about the 30 day right was which is good but it still isn't great right we are using bizarre and more RPA levers to reduce that time down to nine days you know that will put us in the the best-in-class across our financial industry to onboard a customer and not only onboard a customer do it accurately consistently in deliver all right so you know our first year of just our PA so our first year we're about on the second year now that first year was dedicated entirely to the to the back office you know digitizing and commercial lending space now that we're bringing Vizag e on board we're filling that gap in the commercial space and we are expanding those our PA opportunities outside of that so what does the future look like right we have a tremendous pipeline of opportunity you know from a workflow perspective we've got a lot of work to do we are on that journey we are moving as quickly as we can but really it's about looking towards the future right and this includes bringing new systems into the bank bringing new technologies into the bank and when systems change we are hooked into that change we are hooked into the RFP process of bringing new vendors and new software right what are we looking at we're looking at making sure they can hook into our technology solutions are they set up the right way to interact with besakih efficiently and quickly right they set up to interact with our PA and our particular solution blue prism and that's a key driver right all of these new technologies we're taking into the bank we are really doing a lot of work to make sure they fit into our plan in our landscape we are looking at immediate integration of new systems right when new systems come into the bank we make sure that day one when they lands that we've got to hooked into our workflow tool bazaar and that we've got to hooked into our PA so that immediately we can have basashi orchestrate that data orchestrate the request the straightforward things that can be processed by our robot go to the digital workforce and get processed automatically in some of those more complicated cases where we're doing something special for the customer we're doing a you know a special tweak to a service that we have because it's a valuable customer are going to people right so we're using Bazaar G to orchestrate all that data coming in we're using our PA in basashi to remove the noise that occupies most people's days and leaving people with valuable work and we're doing it all in parallel and that's really the critical piece you know tools like Bazaar you know our expectation right off the bat without even doing a lot of reef research right just the reflex is that we're gonna create a 5% efficiency in our operations right there's no doubt in my mind that we're gonna hit that and far exceed that just by the way we're managing the way data goes from team to team in the instantaneous nature that people know exactly when to take action and they're not waiting on a system a report in overnight cycle they're not waiting for that it's coming to them instantaneous and we're always looking at the future right so that includes blockchain technology where we do quite a bit of reconciliation today we've got our PA in that space but blockchain certainly has some some play there artificial intelligence and cognitive learning especially in the commercial lending space OCR is a big one for us in combinati
n with cognitive learning right our loan documents can be three to five hundred pages long and how do we extract just the key data that we need and put it into systems in really looking at the that whole landscape so just one more thing I really want to touch on is the people element of these tools right our success with our PA our success to date with basashi and our future success is really centered around honest communication with our workforce right and sharing with them the strategy right and they've got to be on the bus with us right and not just on the bus along for the journey they've got to be in the passenger seat or the driver seat sometimes they've got to see the technology touch the technology and feel the technology and not just what we deliver you know they are a part of that entire delivery process they're watching us build the workflows right and it gives them context right because when we go to them and describe to them what we're gonna do it's very ethereal they walk away and say I don't know how you gonna do that this is a very complicated process this is something I've been doing for thirty years and I and I still don't have my head wrapped around it right so involving and I'm in that process bringing them along for that journey honest and open communication is is the most critical component in what we found is you know through our PA what we're doing is removing noise from people's days right using bizarre we are giving them one centralized location where they can see all the work they have to do understand how they have to do it and move it along the chain we are adding time back in their day we are retaining those colleagues and most critically you know what we hear from them is they don't they don't have time to take on a stretch opportunity in our organization they want to grow right they want to do new things they want to stretch but if you're tied to an email inbox monitoring requests for 8 to 10 hours a day it's difficult to do that right but so by delivering these technologies we are have a more engaged workforce they know where they fit into today's landscape and the future landscape and we're giving them those opportunities to grow and I think that's really critical piece of this you know I always look to organizations and I think the one missing c-suite member is always a chief ethics officer and that's a critical component of what we're doing here right because if we're going to the business and saying I'm we're gonna save you know 64 FTE their immediate mind goes to you know are those gonna come from right who's not gonna be here tomorrow so that it's very critical to bring people along for the journey be honest communicate the plan and have an ethical strategy have an ethics strategy related to all these all right so with that I think we'll open it up to any Q&A that people have Matt that was terrific thank you very much really good stuff you mentioned customer obsession a number of times and I was also very fascinated by the commercial loan example you gave 59 days down to 39 days down to nine days is one of the benefits of the customer also greater transparency throughout that of knowing where things stand as opposed to Sally's updating a spreadsheet I don't know when she'll be done yeah absolutely it really is right that's what it is it's about you know we've created a concierge team today that is dedicated each person is dedicated to a small set of customers 10 or 20 customers today that team looks very much like a triage team right they're getting the input from the customer and they say hey listen I'll get back to you I'm gonna answer all 12 of your questions but I'm gonna get back to you and it takes you know 24 hours 48 hours and sometimes more when those products go outside of our space to get good answers right and when you're answering those amount of questions the statuses can change right bozo G is the critical missing piece there on if we've got that managing all of the workflows for all of those products that customer is inquiring about we can give them an up-to-the-second status of each one of those right we can give them reassurance we can give them better expectations on where you're gonna deliver I mean we can honestly communicate some of the roadblocks we have within the bank so it really is about transparency of where that request is in transparency where we might be having challenges internally and relating to those customers great thank you the robot process automation is part of be saggy or is from other company yes a great question you know we use blue prism for our robotic process automation and I think you know so it is a different company and I think we're a little bit of a unicorn in this space right I think a lot of people start with bizarre and then move into that RPA space we started with our PA and we've noticed looking at those opportunities that we need a formalized workflow tool right in addition to all the other challenges that these disparate or non existing tools present we need a formalized workflow tool and there's a couple of key points to hit on that right a lot of times when I'm looking for opportunity from my business line they have a perspective they have a feeling right they have a feeling that something can be automated they have a feeling that there's a bottleneck somewhere right so part of our future landscape is using bizarre to drive not only what we couldn't automate yesterday but what we're gonna automate tomorrow right because I can have a clear view at where my bottlenecks where are things going back and forth and not moving forward where are my very high volume things that you know are relatively simple to execute where's that noise right what's preventing all this other work from moving forward so yeah there are two two completely different animals but it's bringing those together that I think creates what we talk about as a digital transformation a mat just a quick question on the reporting side of the house are you using bizarre reporting or using some other third-party tool to pull out the information and report on yes a great question yesterday's world every team had their own workflow or not workflow right so people used various different ways to report Excel spreadsheets access databases customized reporting we've got some sequel queries all these different things you know basashi we are on our way to implementing you know so it is the future plan that Bazaar you will be the centralized source of all of that reporting right it's gonna take some work to get there we have about 2000 different processes so that is the future plan is to have bizarre not only orchestrate the workflow enable our PA but also give a consistent view to our senior leadership team in our Executive Committee in report how complex it is to integrate with external systems passaging yep so that's a little bit of a loaded question I think you know we talked about low code no code right so there's some caveats there and people who use our PA and in besakih know this right we're never gonna leave technology completely out of the equation right so there are integrations that go beyond the capabilities and skill sets of my technology enabled operations team you know I always have operated from the principle that nothing is impossible you know so answering that is is tough but let's put it this way right we have not found one application to date that we could not successfully integrate with our PA or basashi and we've got some old legacy systems greenscreen mainframe in addition to that there's other creative things you can do right our PA is one way if you want to go to the front end user interface to integrate with the system we've got teams in our technology space that can help create api's for us to facilitate that data orchestration so I think with the right amount of creativity the right amounts of tools in the tool kit and the right people in place nothing is impossible all right hopefully one quick one how are you guys handling document storage and how does Prasad you play a role with that for you great question I'm very glad you asked that so today we have a very challenging document management solution in place I'm not gonna put any names out there for what for what we're using but it is really a roadblock it's a roadblock for our relationship managers uploading documents classifying documents it's a whole separate animal for people who want to pull those documents and find documents so the you know the plan again is to use bizarre G to do a piece of that document management I think it's still a little up in the air how much of that will get done as far as a formalized document management system organizationally but I know that through these work requests all of the pertinent documents are going to be part of that bizarre workflow as far as reference so the long-term storage and maintenance of those documents to me is a little fuzzy in bizarre but through their workflow maintenance and having all of that available through every step of the way is a critical component of how we deliver all right so thank you very much appreciate your time [Applause]
