NatWest applied a customer journey-led approach to simplify and automate the risk management process for all “change the bank” initiatives. In partnership with Appian, the bank standardized and automated 17 disjointed governance processes and questionnaires into a single seamless approval process with a unified data model across all these areas. The new risk governance process prioritizes and tailors project governance to the specifics of each change project, and automatically adapts the ensuing process to those tailored requirements. This has decreased governance cycle times for change-the-bank initiatives from as much as 73 days to as little as 73 minutes.
Key Benefits:
- 60% of all product change governance cycle times take less than 90 minutes
- Time in triage reduced from 2 weeks to <5 minutes
- Revamped process for over 3,000 projects per year saves an estimated 1 week per project, equating to ~£4.5m per year
See webinar link below for a video interview with Stephen Marjot, Head of NatWest's Change Centre of Excellence.
