Start with service design
Service Design is a multidisciplinary approach that leverages human and analytic insights, as well as change management, to reimagine experiences across all digital and human touch points. It is a natural first step in any transformation effort. A critical element of experience-driven transformation, it paves the way for strategic, integrated design and build initiatives. While traditional problem-solving methods focus on optimizing existing processes, service design eliminates silos and considers the end-to-end design to identify new ways of working. The approach helps prioritize decisions and creates a blueprint for change from the front office all the way to the back. This work guides change with an unwavering focus on business outcomes.
One financial services institution faced time-consuming investigations into a large volume of reconciliation breaks despite significant auto and manual matching efforts. Service design helped the team plan for a new future state, incorporating stakeholders from on-shore and off-shore operations, technology, and middle-office teams. The project also leveraged key performance indicators for every stage of the reconciliations journey and an interactive digital prototype that demonstrated a new way of working for operators based on user input. The resulting plan is now the backbone of the strategy for future reconciliations.