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REIMAGINE WITH AI

CHALLENGE THE STATUS QUO

MODERNIZE THE CORE

Teller Modernization for a premium super regional US Bank

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The Bank was looking to redesign and build a next gen Teller platform as part of their business strategy of Business Transformation. They requested the SLK Consulting team to do an analysis into whether they should Build or Buy a platform. SLK conducted this analysis, came to a conclusion on the best way to move forward and executed on that strategy for the bank

PROBLEM STATEMENT

  • The bank was planning to redesign the teller solution as part of digital transformation
  • Bank was exploring industry solutions as part of this (Argo, FIS)
  • The Bank Leaned toward Buy as it was perceived to do “Magic”
  • Off the shelf features including Regulatory compliance ready with minimal integration was the expectation

SLK’S SOLUTION

  • SLK challenged the “Buy” solution and instead recommended modernizing existing Teller platform
  • SLK did an independent assessment of teller solutions keeping mind business values, cost benefit analysis, TCO (Total Cost of Ownership) of Buy Vs. build options
  • SLK demonstrated this with a Proof on Concept on Right-Fit Custom Solution that aligned with the Banks Digital Strategy
  • Branch Image Capture, Session Based Transactions and Automation of Compliance/Regulations were implemented

KEY TAKEAWAYS

The Bank partnered with SLK to enable an end-to-end modernization of their Teller system. Everything from conceptualizing of the best approach to move forward, to the overall execution of modernizing their existing Teller solution

  • SLK partnered from conceptualization to value realization
  • SLK’s consulting team challenged the existing “Buy” approach from the Bank
  • Demonstrated Proof of Concept
  • Aligned with bank’s Strategy
  • Yielded 50% cost savings against the “Buy” Option
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