{"id":63500,"date":"2023-02-08T07:19:00","date_gmt":"2023-02-07T20:19:00","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=63500"},"modified":"2024-05-24T14:04:42","modified_gmt":"2024-05-24T04:04:42","slug":"nab-digital-transformation-lower-costs","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/au\/blog\/nab-digital-transformation-lower-costs\/","title":{"rendered":"How NAB Embraced Digital Transformation so It Could Lower Costs and Ramp up Internal Efficiencies"},"content":{"rendered":"\n

NAB recently embarked on a digital transformation program that led to a new business banking platform. We caught up with Andrew Irvine, Group Executive for Business and Private Banking at NAB, to hear how the bank employed a use-case approach to building the platform that lowered risk, increased efficiency and united business bankers with a single view of its customers.<\/p>\n\n\n\n

In banking, nothing is more important than the relationship between a bank and its customers. After all, customers are the lifeblood of any business and meeting their needs, whatever they may be and however unique they are, should always be the number one priority.<\/p>\n\n\n\n

To help customers be more effective and lift the customer experience, NAB recently developed and deployed a business banker platform. To achieve this, the bank adopted a use-case-driven approach to the digital transformation needed to craft this new solution. Read more about how NAB devised a use-case-driven approach to transformation and accelerated value creation from technology in this BCG x Salesforce research, The Reset<\/a>.<\/p>\n\n\n\n

Andrew Irvine, Group Executive Business & Private Banking, National Australia Bank<\/h6>\n\n\n\n
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Andrew joined NAB in September 2020 as Group Executive Business and Private Banking. He previously held a number of executive roles with the Bank of Montreal since 2008, most recently as Head of Canadian Business Banking.<\/p>\n<\/div>\n\n\n\n

Time for change<\/h2>\n\n\n\n

\u201c\u200b\u200bWe\u2019re always on the lookout for how we can digitally enhance our customer relationships, using both a customer and a banker lens,\u201d says Andrew Irvine, Group Executive for Business and Private Banking at NAB. <\/p>\n\n\n\n

\u201cWe ask questions like: How are we delivering solutions that make a banker\u2019s life easier? What makes NAB a simpler bank to work with? Are we using all the data available to us to understand our customer\u2019s behaviour to offer personalised solutions that meet their needs?\u201d <\/p>\n\n\n\n

Before NAB implemented its Salesforce solution, the only way a banker could form a complete picture of a customer was to assemble data scattered across separate and disconnected systems. <\/p>\n\n\n\n

It was difficult and time-consuming. This fragmented process also made it difficult for bankers to form the best action to take with a customer, says Irvine. <\/p>\n\n\n\n

To overcome this, the team at NAB developed a platform to enable bankers to be more effective, efficient and productive for their customers. <\/p>\n\n\n\n

\u201cWe knew that putting the customer front of mind from the outset would be critical to a project like this one. If we are a simpler bank to work for, bankers can support customers faster and in a way that works for the customers \u2013 saving both the customer and banker loads of time,\u201d says Irvine.  <\/p>\n\n\n\n

\u201cOur customers expect that we know and understand them. Data is at the heart of how we do this.\u201d<\/p>\n\n\n\n

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Want to learn how to lower costs and boost efficiencies?<\/h2>\n\t\t\t\t\t\t\t

Download The Reset to learn how.<\/p>\n\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t

\n\t\t\t\t\tGet the eBook<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t
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Delivering value quickly<\/h2>\n\n\n\n

\u201cWhen we built our business banker platform, we focused on value creation from day one,\u201d says Irvine. <\/p>\n\n\n\n

\u201cTime was of the essence; we wanted to deliver ease and simplicity to bankers and customers quickly. Any system improvements had to be delivered quickly and in stages along the journey. Perfection and years to deliver was not an option.\u201d  <\/p>\n\n\n\n

NAB was driven to get the ball rolling and deliver ease and simplicity to bankers and customers quickly. To do this, it delivered system improvements and implemented updates at pace and in stages.<\/p>\n\n\n\n

For NAB, working on the solution for years and striving for perfection before release was not an option. Instead, the bank iterated the solution and released it at stages, allowing bankers to come to grips with the new system as early as possible. <\/p>\n\n\n\n

When it came to the initial release, NAB rolled out the banker platform in a pilot phase that was embedded into the workflow for one-third of the company\u2019s bankers. This meant the NAB team could gather feedback, iterate and adjust features as they went. \u201cThis approach meant we could avoid over-investing in the wrong solution or aspects of the program that wouldn\u2019t deliver value to bankers and customers.\u201d<\/p>\n\n\n\n

Taking a use-case-driven approach<\/h2>\n\n\n\n

Before building the solution, the NAB team first homed in on what they wanted to achieve with this transformation project. In understanding its ideal end-state, NAB could focus on building a comprehensive solution that would help the company reach its goal. <\/p>\n\n\n\n

The solution needed to meet both customer and banker expectations. To begin with, NAB defined a series of use cases that articulated the requirements for each side, the functionality needed and the value at stake.<\/p>\n\n\n\n

As a result of this analysis, NAB identified four key use cases that would deliver genuine value to bankers and customers alike. These use cases included: <\/p>\n\n\n\n