Client
Our client, a leading financial institution in Southeastern Africa, partnered with Hexaware to revolutionize its digital presence and become the fastest-growing, most innovative, and most responsive bank in the region. This case study explores how a comprehensive digital strategy and cutting-edge retail banking technology solutions helped our client achieve its ambitious goals.
Challenge
Our client aimed to stay competitive in the rapidly evolving financial sector by enhancing its digital capabilities. It needed a multi-year roadmap to:
- Enhance the reliability, security, and agility of its IT foundation
- Develop a modern IT governance structure fostering collaboration between business and IT
- Create excellent user experiences through digital technology
- Meet aggressive growth and bank digitization targets
Solution
Our work implemented a comprehensive two-phased digital bank IT strategy solution. The first phase consisted of an in-depth IT assessment, during which we meticulously identified key constraints, pain points, and discrepancies in both business and IT operations.
Our thorough analysis in the early phase of this project laid the groundwork for the second phase: Digital Strategy Development. In this crucial stage, we facilitated a series of collaborative sessions to create a robust digital banking strategy roadmap. These sessions focused on aligning business and IT objectives and designing a detailed plan to transition our client to a more robust, highly available, and well-performing architecture.
Two key initiatives emerged from this process. First, we developed a cloud-native mobile banking application built on a modern architecture, ensuring an always-on solution for customers. Our mobile banking solutions represented a significant leap forward in the bank’s digital capabilities.
Next, we crafted a comprehensive digital strategy that set ambitious goals for digitization and customer acquisition. This strategy placed a strong emphasis on enhancing internal processes and customer-facing channels, aiming to transform the bank’s operations from the inside out.
Benefits
Our digital strategy aimed to achieve the following ambitious goals shortly after launch:
- Digitize 80% of all internal processes
- Open 700,000 new accounts through digital channels
- Achieve 90% of transactions via digital platforms
To support these targets, we implemented a series of fundamental improvements to the bank’s technological infrastructure and governance. We significantly enhanced the reliability, security, and agility of the IT infrastructure, providing a robust foundation for digital growth. A modern IT governance structure was established, facilitating the development of new customer experiences through improved collaboration between business and IT teams.
A solid IT foundation underpinned all of these initiatives, carefully aligned with the bank’s overall business goals. This ensured that technological advancements directly supported their ambitious growth objectives and digital banking transformation strategy.
Summary
Through strategic partnerships and a focus on digital transformation, our client is now positioned to become a banking leader. The comprehensive digital strategy and modern technological solutions implemented are expected to drive growth, improve operational efficiency, and lead digital customer experience in banking.
