Designing the Digital Bank One Pillar at a Time
Customer Company Size
Large Corporate
Region
- America
Country
- United States
Product
- Digital Business Platform
- webMethods
- Alfabet
- Apama
Tech Stack
- Application Integration
- Enterprise Architecture and Portfolio Management
- Streaming Analytics
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Digital Expertise
- Innovation Output
Technology Category
- Analytics & Modeling - Real Time Analytics
- Application Infrastructure & Middleware - API Integration & Management
- Application Infrastructure & Middleware - Data Exchange & Integration
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Predictive Maintenance
- Process Control & Optimization
- Real-Time Location System (RTLS)
Services
- System Integration
- Software Design & Engineering Services
About The Customer
The financial institution in this case study is one of the largest banks in the U.S. and the world with trillions in assets and hundreds of thousands of employees. The bank serves tens of millions of customers with banking, insurance, investments, mortgage, and consumer and commercial finance services. This bank consistently ranks within Fortune’s rankings as one of America’s largest corporations. Since its founding, the bank has witnessed sweeping historic changes—from the Great Depression to the Dot-Com Bubble and now the do-or-die Age of Digitalization for traditional bricks-and-mortar banks.
The Challenge
The bank, one of the largest in the U.S. and the world, is facing new market dynamics born of the digital age. Digitally savvy customers today expect more, like omni-channel banking, and they have more choices in banks like FinTechs. This is forcing traditional banks to rethink how they compete and operate. The bank is also facing regulatory challenges. As regulatory requirements expand, the bank needs insights into operations. Regulations like Dodd-Frank demand it. Without full visibility into its 4,000+ applications, the bank was in the gunsights of such penalties.
The Solution
The bank is investing more in Software AG’s Digital Business Platform. The bank first invested in webMethods to help integrate its biggest business, B2B wholesale banking. With webMethods, for instance, the bank is able to process roughly $30 trillion in payments yearly. By adding Apama and Alfabet, the bank is further retooling to become more agile, more customer-centric and more innovative. The bank is testing new technologies—like Artificial Intelligence (AI) and streaming analytics— to deliver newfound capabilities. In 2015, the bank adopted Apama Streaming Analytics to mine insights for real-time customer engagement. The bank bought Alfabet in 2017 after a one-year, multi-million-dollar application rationalization project by consultants failed to reduce applications.
Operational Impact
Quantitative Benefit
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